Cover your computers – standard contents insurance may not be enough

26/11/12 General

In the late 1940s, the boss of a major computer business was famously quoted as saying, “I think there is a world market for maybe five computers.” That he was probably misquoted shouldn’t disguise the fact that no one could have foreseen the growth of the computer market to an extent that there is now an estimated one billion computers in use worldwide.

Computer equipment and the accompanying software are now vitally important to the successful running of almost every business. As ingenious as they can be however, they are also vulnerable to disasters – of both the hi-tech (computer viruses) and low-tech sort (a spilt cup of coffee over a server) – that can seriously threaten the financial livelihood of a business.

Loss of computers – loss of data

Take for example the loss of computer hardware to an opportunist thief despite the absence of any sign of break-in; or the loss of a large amount of critical business data due to a third party contractor being unfamiliar with their client’s working procedures and failing to retain secure back-ups. The threat could also just as likely come from an external source such as a corruption of stored data due to the failure of its firewall.

Having appropriate insurance in place should be a key part of your risk management strategy, making sure your business can continue to operate should anything happen to your computer equipment or the data you hold. Unfortunately many standard office contents insurance policies might not have the breadth of cover you need, while imposing warranties and conditions which would prevent them paying out in examples such as those mentioned above.

We can provide access to an exclusive computer business insurance policy which has few warranties and exclusions and will help to quickly get your business up and running again in the event of a loss. Contact us for more information on business computer insurance.