Computer insurance: Bit & Byte

  • Defective hardware can be expensive: both the repair and the new acquisition
  • Usually a damaged hardware leads also to the software crashes! 
  • Data losses can lead to partial or total break of operational activities 
Haushaltsversicherung
  • Allianz covers the hardware damages within the scope agreed sum
  • in case of destruction or loss, the insurance covers the value of the object that it represents right before the occurrence of the damage (new value),
  • in case of damage, the necessary repair costs at the event of damage (new value).

    If the present value of the covered property is less than 40% of initial value before the event of damage, the present value shall be replaced at most.
Insurance coverage is available in the event of a complete or partial interruption of operational activities if the insured hardware fails as a result of insured damage. Allianz covers all additional costs (like renting external hardware) required for the continuation of the business activity the within the insured period.

Allianz reimburses, within the limits of the amount of the insurance, the necessary costs for 
 

  • restoration and/or Recovery of insured external data carriers (required data storage to back up)
  • recovery and migration of data and programs to the state before the occurrence of the malfunction.

What is insured? 

Insurance covers the agreed hardware against sudden and unforeseen damages or destruction (property damage) as well as loss due to burglary, theft or robbery. 

Material damage is considered to be an adverse negative change in the insured hardware.

The following stationary devices can be insured if they are used in operational activities:

stationary information hardware (CAD and CAMcomputers, computer cashiers),
stationary communication hardware(Videoconferencing, counter and intercoms),
stationary office hardware(Registers, kitchen appliances in the office),
stationary fuse and detection hardware(Access control systems, signalling systems).

Mobile office and IT equipment can also be insured with an all-in sum to cover initial value of hardware. 
The scope of this hardware insurance is worldwide!

What does Allianz pay in the event of an insured event? 

Allianz indemnifies within the agreed limits.

  • in case of destruction or loss, the insurance covers the value of the object that it represents right before the occurrence of the damage (new value),
  • in case of damage, the necessary repair costs at the event of damage (new value). If the present value of the covered property is less than 40% of initial value before the event of damage, the present value shall be replaced at most.


Additional costs due to technological progress are also co-insurable:

This means, if there is no possibility of re-establishment in the event of destruction or loss insured equipment will be replaced with equivalent one(similar type and quality),  Allianz replaces the new value plus max. 20% of the new value to cover additional costs,
but maximized with €10,000,-.

What is insured?

Insurance coverage is available in the event of a complete or partial interruption of operational activity if the insured hardware fails as a result of insured damage.

What does the Alliance do in the case of insurance?

Allianz covers all additional costs (like renting external hardware) required for the continuation of the business activity the within the insured period.

In addition to hardware, the software (data and programs) can also be insured.

Bit&Byte Software is also co-insured for external data carriers that are intended to be interchangeable (required data storage for backup) and the data and programs on them (machine-readable information).

What is insured?

Insured are any adverse changes or losses of insured data and programs as a result of an insured property damage to the hardware or due to:

Failure of the data-processing system or air-conditioning system;
Operating errors (e. g. incorrect use of data media, incorrect command input)
Over- or under-voltage,
Electrostatic charge, electromagnetic disturbance,
Force majeure (including lightning);
Damage to electronic components (components)
Damage to fuse elements of all kinds due to their intended function. 

What does the Alliance do in the case of insurance?

Allianz reimburses, within the limits of the insured amount, the costs for the necessary:

Restoration and/or Recovery of insured external data carriers (required data storage to back up)
Recovery and migration of the data and programmes for the state of the operating system and the programmes before the event of the damage,
Re-establishment and/or machine re-entry of the insured data and programs from external data carriers (to backup necessary data storage),
the automatic or manual re-entry of data from original programmes or from evidence available to the policyholder, including their compilation and processing.

Would you like to file a claim?

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