Equipment Insurance

Equipment Insurance  

Overview

At A Glance

Protect your equipment and your livelihood!

 

As a professional, you know your equipment is your livelihood. You've invested a lot of money. Have you thought about what would happen if your equipment were lost, stolen, or damaged? The "Special Risk" Equipment Insurance Program, is worth a look if you're interested in insuring your valuable equipment.

 

"Special Risk" means there are very few exclusions to your coverage. You're covered for all loss or damage to equipment from theft, breakage, vandalism, fire, lightning and other natural hazards.

 

And you're covered no matter where you go - up to the scheduled value of your equipment. You may be aware that most homeowner's policies won't cover your business-related equipment at your office, home or in your car.

 

Benefit Features:

  • Claims based on actual replacement cost (up to scheduled amount)
  • $0 deductible!
  • Coverage for theft
  • Coverage for equipment when it's off premises or in transit
  • Cost of this Plan is tax-deductible as a normal business expense
  • Up to $10,000 in extra expense coverage to keep business running when computer equipment is lost or damaged.
Forms

Insurance Application and Brochure

Application for all states.
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FAQs

Answers about the plan, including eligibility, options, enrollment, customer service and more.

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  • How can I learn more about this plan?
    Download an insurance application and brochure from the right column. Or, call us at 1-800-503-9230 to speak to a representative.

  • Does all of my equipment have to be insured?
    No, you may select which equipment to insure.  If you work for a firm, they may have a policy to cover your equipment while in the office but once it’s taken out of the office, it may not be covered by the firm’s policy.  Our policy protects your equipment no matter where it’s located.

  • What kind of reimbursement can I expect?
    This Plan pays you the actual cost of replacement. As long as your item is scheduled for its full value, no depreciation factor is taken into account. Claims are settled on a 'new-or-old' basis, up to the limit applied for on the application.

  • What should I do if I have a claim?

    Any situation which may result in a claim should be reported immediately to: York Claims Service, Inc., 99 Cherry Hill Road, Suite 102, Parsippany, New Jersey 07054, Attention Jenai A. Russel, Manager, Ph# 1-866-391-9675(YORK). If your claim is due to theft or vandalism, send a police report at once. For repair claims, you must submit an estimate of the damage. For any claims resulting from theft or damage to newly acquired property, or for any one item valued over $10,000, you must include proof of purchase.

     

  • Will my Professional Liability insurance policy cover my equipment?
    No, your professional liability insurance policy does not cover the costs for lost, damaged or stolen equipment.

  • Is this insurance necessary if I already have coverage under a homeowner’s policy?
    Yes.  The standard homeowner’s policy does not cover equipment strictly used for business purposes.  While your computer equipment may be covered if it’s also used for personal matters, your other business equipment such as an audiometer, portable voice, therapy and educational equipment, or dictating machine is not covered.  Plus, if your computer equipment leaves your home, it may no longer be protected.

  • If the motherboard on my computer goes out, is that covered?
    Possibly.  However, if the motherboard going out was due to faulty repair, a fault in the design or a programming error, then there would not be coverage.  For any other reason, you may submit a claim for review.

  • What if new equipment is purchased?
    If your newly acquired equipment is less than 25% of your policy limit, you will receive automatic coverage for up to 30 days from the date of purchase.  You have 30 days to notify Mercer of the newly acquired equipment and you will need to pay for any additional premium to add the item.  If you newly acquired equipment exceeds 25% of your policy limit, you will need to notify Mercer immediately to add the equipment to your policy.

  • What is the minimum premium required under this plan?
    Unlike many other business equipment policies that require you to pay a minimum premium in the hundreds of dollars, this NCRA Plan has a minimum premium of only $50.00.
Contact Us

We're here to help! Please contact us in whatever manner is most convenient for you.

 Address
Mercer Consumer
12421 Meredith Drive
Urbandale, IA 50398
 Phone
1-800-503-9230
 Email
proliability.question@mercer.com
 Hours
 M-F 8a-5p CT
Mercer's Role & Compensation

Details of Mercer disclosure of the compensation.
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