An Informative Guide to ICICI Lombard Electronic Equipment Insurance Policies

An Informative Guide to ICICI Lombard Electronic Equipment Insurance Policies

In an era where technology is integral to business operations, it’s a must to prevent problems before they happen. Speaking of which, one thing that’s sure to go wrong is: ICICI Lombard’s Electronic Equipment Insurance Policy provides comfort for companies, shielding their electronic assets from risks between A and B. This guide provides details of the policy’s coverage, advantages and disadvantages to help all potential policyholders-whether they are experienced in business insurance or not.

What is Electronic Equipment Insurance?

Electronic Equipment Insurance (EEI) is designed to cover electronic devices such as computers, printers, scanners, as well as industrial electronic machines that can cause damage. The policy extends to any profitable loss on the part of an individual or business due to material damage, and is widespread in covering external causes that may lead to deficit. This is not simply about protecting your own investment; but rather keeping a whole enterprise from being brought down by one mistake.

Coverage Details

The policy generally covers material loss of electronic equipment resulting from sudden and unforeseeable events, including but not limited to the following:

All Risk Coverage: The policy is written on an all-risk basis, meaning it indemnifies against a variety of risks unless specifically excluded.

External Data Media: It covers the cost of external data media and reconstructing data.

Increased Cost of Working: In case an insured event happens, the policy covers the costs of increased output.

The sum insured can be based on the new replacement cost of the insured property, including freight, erection charge, customs duty and such other costs. It should also represent the hiring charges for substitute equipment to ensure that data processing can continue for an interruption period.

Add-On Covers

ICICI Lombard provides additional coverages to help bolster the policy, such as:

Air Freight: For coverage of urgent replacement by air.

Express Freight: For urgent requirements in shipping speed.

Additional Customs Duty: Any extra customs duty incurred during the process of replacement.

Important Exclusions

While the policy is broad in its coverage, there are certain exclusions to be aware of:

Wear and Tear: Damages resulting from regular wear and tear are not included in the policy.

War and Nuclear Risks: Any damage resulting from war, invasion, nuclear reaction or radiation is excluded.

Wilful Acts or Negligence: Losses resulting from the insured’s wilful acts or negligence are not covered.

Consequential Loss: Any past defects or losses due to other events are not included by the policy.


Putting in an application for ICICI Lombard’s EEI policy is simple. Parties enthusiastic about buying the policy can visit ICICI Lombard’s official website and fill out applications with the majority of information required, such as their desired coverage, personal details and some additional data fields at need. For a full scope of coverage and all of the details, be sure to read the policy terms and conditions.


Companies eager to safeguard their digital assets will find in ICICI Lombard’s Electronic Equipment Insurance Policy a good solution. With flexibility on both overall coverages and ancillary covers, companies can tailor the policy to fit their specific needs. This guide’s understanding of the policy, from its overall coverage down to the detailed understanding of exclusions, is critical for companies seeking to make well-informed decisions about their insurance needs.

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