When you are looking around your office, you likely see a lot of hardware. Printers, computers, tablets, company cell phones. These are likely your business’ lifeline to customers and product management.

Events can happen that can damage your hardware. It will likely take time to repair hardware and get it back up and running. Damages could interrupt business operations, and there might be financial losses as a result.

Business insurance can be a vital component of your operations in case a covered event damages your hardware. There are many different business insurance elements that can protect your hardware assets.

Property Damage Coverage

A comprehensive business insurance policy often includes property damage coverage. A strong policy will likely protect many of your business’ hardware assets in the event of unforeseen circumstances.

However, property damage will likely only cover up to the value of your policy. Remember, property damage coverage usually covers more property than just your hardware.

Additionally, property damage insurance may only reimburse you for the value of your hardware at the time of the incident. It may not reimburse you for the full original price. Make sure that your coverage limits are high enough to fully replace expensive hardware in addition to all other business assets.

Inland Marine Insurance Coverage

Inland marine insurance covers items in transit at your business. Inland marine insurance may cover property when it is not within the four walls of your business. This property in transit can include hardware.

Employees frequently take laptops and company cell phones off the property. Inland marine insurance will likely cover hardware losses when said hardware is off-site.

Individual Hardware Insurance

Many different hardware products offer individual insurance packages. Cell phones, printers and other devices may come with policies offered by the manufacturer. The policies might cover replacement and repair costs for a monthly premium.

An individual hardware policy may help your business. This can be true if you don’t think you have enough coverage from your business insurance. However, you need to understand the cost and benefits of these plans.

Positively, you will know that for a generally small sum, a device will have replacement and repair coverage. Negatively, these policies may not cover every type of loss that might hit a device. Furthermore, the cost of individual device insurance may not benefit your finances.

Covering your hardware should be a priority. So many of these devices are very expensive to replace. Proper business insurance, inland marine, or individual device insurance can be a valuable asset to protecting devices.

Learn about our business insurance options and coverage on our website. If you have questions about your business insurance coverage of devices, call us today.