7 Top Equipment Insurance Questions
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Today our conversation will be about equipment insurance, a product present in Prospecto's portfolio.
More precisely, we are going to share the main doubts of those looking for this product, based on our experience.
Let's take the guesswork out of it and simplify equipment insurance!
HOW DOES EQUIPMENT INSURANCE WORK?
Before understanding how insurance works, it is necessary to understand that equipment is part of our daily lives, especially in the work environment. Every company needs different equipment to carry out its activities. In the audiovisual field, for example, equipment ranges from computers to cameras and camcorders, including smartphones.
Equipment insurance works as a protection for these work equipment against loss or damage to the insured goods.
HOW MUCH DOES EQUIPMENT INSURANCE COST?
Values and fees vary, as each policyholder/company is unique and the activities carried out vary based on the equipment used, so it is difficult to specify a value.
WHICH EQUIPMENT DOES THE INSURANCE COVER?
The insurance covers both machinery, electronic and portable equipment. That is, it is possible to cover cell phones, notebooks, cameras, desktop computers, power generators, drones and much more.
IF MY EQUIPMENT FALLS AND BREAKS WHAT HAPPENS?
If your equipment falls and breaks irreparably, the situation being indemnifiable, the insurer will pay the declared value of the equipment, so that you can replace it.
In case of repair, insurance covers the cost of the service to be performed.
WHAT IF I LEAVE MY EQUIPMENT IN THE CAR AND IT IS DISAPPEARED?
This type of situation usually falls into simple theft, and insurance will not cover this loss. Theft or aggravated theft is required for coverage. Do you know the difference? Take a look at this post, we explain exactly how insurance behaves in the event of an unexplained disappearance.
Golden tip: Don't leave your equipment in the car!
DO YOU HAVE COVERAGE FOR WATER DAMAGE?
Pay close attention to equipment insurance exclusions when purchasing, as a rule, coverage against water damage is not part of the basic product coverage, but such coverage can be purchased. Ask your broker for this inclusion.
IS THE DRONE A EQUIPMENT?
Yes, the drone is an equipment, but it needs other insurance to be functional. Within the Equipment product, whether annual or per audiovisual project, equipment coverage will essentially cover the hull of the product.
The situation of using drones needs more care, read this article and understand how to hold your drone!
WHAT IS THE ADVANTAGE OF EQUIPMENT INSURANCE?
The great advantage lies in the reduction of the financial impact, because in the event of an unforeseen lightning strike, water damage, theft or another type of problem, which means the loss of equipment, a company without this insurance protection will deal with a double dose of damage: first the loss of equipment and second the production time compromised.
With insurance, it is possible to rent other equipment while the situation of what was damaged and/or stolen, for example, is resolved more calmly. Most insurance companies pay this rental period so you don't get stuck.
Do you have more questions? Rest assured, our team is more than ready to answer all your questions!
It is important to point out that equipment insurance will need documentation proving the existence of the item, so that there is no problem in the event of an accident. So, save your equipment purchase invoice so you don't run out of compensation later.
Combined?
See you on the next #MondayBlog!
Prospecto Seguros
Learn more:
Audiovisual Production
Errors and Omissions
Equipments
Drones
Life and Personal Accidents