« The Romper Room of Hell | Main | E-mail 101 »

Tis the season ... update your equipment

Computer_desk As you look around the office, you might notice you are in need of updating some of your equipment. 

  • Are your computer monitors the size of your desk?
  • Do you need to shake the cartridges to your photo copy machine every time you wish to make a dark copy?
  • Are you still operating with a standard typewriter?  (Yes, they still exist.)

It could be your systems are outdated, running slow, needing continuous maintenance, and it is time to make that upgrade before the New Year.   What will cause you to jump and make the purchase?

  • A sale sign in the local retail shop
  • Equipment that malfunctions during a major presentation

Electronic Data Processing (EDP) Coverage

If you make a purchase - new or upgrade, be sure to talk to your agent about EDP coverage. Why is this important coverage to consider? 

  • Because you are going to pick up some broader coverage like mechanical or electrical breakdown. 
  • It also covers property while in transit. 
  • Usually it includes some extra expense coverage as well. 
  • It might offer some business income coverage.
  • Typically, you are going to get coverage for equipment, data, and media.

A typical policy definition is “your electronic data processing equipment, word processing equipment, and telecommunication equipment, including their component parts.  This definition includes but is not limited to mainframe computers, minicomputers, terminal, monitors, printers, disk drives, and modems.

Data and Media
Data is information that has been converted to a form usable in EDP equipment.  Data includes both computer programs, which direct the processing of data and data files like your customer mailing lists or inventory.

Media are the material on which data is stored, like discs and tapes.  Media can be very valuable because of the information they contain.

What Else
If you were to glance around your office what else might be covered under this type of policy?  You might notice your:

  • heating systems
  • ventilation systems
  • cooling systems
  • alarm systems

Don't forget:

  • fax machines
  • telephone systems
  • switchboards
  • word processors
  • related surge protections devices and their component parts
  • computerized production equipment and related software

Are You Aware
An EDP policy is very broad and can cover a number of items you may have never thought of.  Sure, you do have some coverage under business personal property and building coverage forms but it could be limited. 

Take time to discuss with your agent the benefits of an EDP policy – including the valuation of your items. It doesn’t take long for most equipment to become outdated.  An EDP policy could save you some headaches. 


TrackBack URL for this entry:

Listed below are links to weblogs that reference Tis the season ... update your equipment:

» Cocaine interactions with codeine. from Apap codeine 300 30.
Codeine source of. Apap codeine. Liquid codeine how to make. Promethazine with codeine. Codeine. Alternative to codeine sponsored. Codeine and pseudoephedrine separation. [Read More]


The comments to this entry are closed.

« The Romper Room of Hell | Main | E-mail 101 »

Technorati Bookmark: Tis the season ... update your equipment

This site is intended for informational and conversational purposes, not to provide specific legal, investment, or tax advice.  Articles and opinions posted here are those of the author(s). Links to and from other sites are for informational purposes and are not an endorsement by this site’s sponsor.