Portable Electronic Equipment Insurance
Cover Devices Wherever Your Team Works
Laptops, tablets, cameras, drones, survey instruments and medical scanners rarely stay at one address. Portable electronic equipment insurance covers them against accidental damage, theft and breakdown-type losses anywhere in India, and abroad if you choose. It suits companies with field staff, hybrid teams, media crews and service engineers. MILES helps you build an accurate asset list, pick the right territory and place cover that responds to how your equipment is actually used.
What This Policy Covers
Accidental Damage
Drops, impact, liquid spills and other sudden accidents that damage the device while it is used or carried.
Theft And Burglary
Theft from offices, homes, hotels and locked vehicles, subject to reasonable security conditions in the wording.
Anywhere In India
Protection while equipment moves between sites, homes and client locations, with worldwide cover available as an option.
Fire And Allied Perils
Loss from fire, lightning, flood, storm and similar perils wherever the equipment happens to be.
Electrical Damage
Short circuit, power surge and similar electrical faults, depending on the insurer's wording and exclusions.
Scheduled Or Blanket Basis
Insure devices one by one with serial numbers, or under a declared total for larger fleets, where insurers agree.
What is portable electronic equipment insurance?
Portable electronic equipment insurance covers laptops, tablets, cameras, projectors, measuring instruments and similar devices against accidental damage and theft while they are used or carried away from a fixed location. It follows the equipment to homes, client sites, vehicles, hotels and, if chosen, other countries.
It is a mobile variant of electronic equipment insurance, which normally covers equipment only at a named premises. Both belong to the engineering insurance family. The difference matters for any business whose people and devices are always moving.
What the policy covers
Most policies are written on an “all risks” basis, meaning any sudden and unforeseen physical loss or damage is covered unless it is specifically excluded. Typical covered events include:
- Accidental drops, knocks and liquid damage.
- Theft, burglary and robbery, including from locked vehicles when security conditions are met.
- Fire, lightning, explosion, flood, storm and other natural perils.
- Short circuit and electrical damage, depending on the wording.
- Damage during transit by road, rail or air as accompanied baggage.
Repairs are paid up to the cost of restoring the item. If an item cannot be repaired economically, the insurer pays the replacement value or the agreed basis of settlement.
What is not covered
- Wear and tear, gradual deterioration and cosmetic scratches that do not affect use.
- Loss or damage while the device is left unattended in an unlocked vehicle or public place.
- Mysterious disappearance without evidence of theft.
- Defects covered under the manufacturer’s warranty.
- Software, data and the cost of recreating data, unless an extension is purchased.
- Consumables such as batteries, bulbs and cables, except when damaged along with the main item.
Data loss and hacking belong under cyber insurance, not this policy.
Who needs it
| Business | Typical equipment |
|---|---|
| IT and consulting firms | Laptops and tablets used by hybrid and travelling staff. |
| Media, events and film crews | Cameras, lenses, lighting and sound gear. |
| Surveyors and engineers | Total stations, GPS units, drones and testing instruments. |
| Healthcare providers | Portable ultrasound, ECG units and diagnostic devices used in home visits. |
| Sales and service teams | Demo units, handheld terminals and field-service tools. |
| Education and training | Projectors and laptops used across campuses and venues. |
How the sum insured and premium are decided
The sum insured should equal the cost of replacing each item with a new one of similar specification. Insuring at the old purchase price or book value may lead to under-insurance, where the insurer reduces the claim in proportion.
The premium depends on the type of equipment, total value, territory (India only or worldwide), security arrangements, claims history and the deductible you choose. Theft-prone items such as laptops and cameras attract closer scrutiny. Rates and deductibles vary by insurer. Keeping the asset list updated as devices are bought and retired keeps the premium fair and claims smooth.
How a claim works
- Inform the insurer as soon as possible after the loss.
- For theft, file a police complaint and get a copy of the FIR; for loss while travelling, also report to the airline, hotel or carrier.
- Keep the damaged item for inspection; do not discard it or send it for repair without approval.
- Submit the claim form, invoice or asset register entry, repair estimate and photographs.
- After approval, the insurer pays for repair or replacement less the deductible.
How MILES helps
- We help you prepare a clean asset register with serial numbers and current replacement values.
- We compare portable equipment wordings for theft conditions, territory, excess and electrical cover.
- We advise whether a scheduled or declared-value structure fits a large device fleet.
- We place cover and coordinate it with your fixed-location electronic equipment and burglary policies.
- When a device is lost or damaged, our claims team helps you file quickly and follow up.
Cover, exclusions and premiums depend on the insurer’s policy wording and underwriting. MILES Insurance Brokers Pvt. Ltd. is an IRDAI-licensed direct broker (Life & General, Reg. No. 954); the insurance is issued by the insurer. Insurance is the subject matter of solicitation.