Technical Risk Insurance
Specialized protection for machinery and electronics against internal malfunctions, human error, and sudden technical failures.
Protection of key technologies against internal malfunctions and operator error
Standard property insurance protects your business from external elements, but for sophisticated technologies, the most common threats come from within or from normal operation. Technical risk insurance covers a wide range of hazards – from design and material defects, short circuits, and overvoltage, to employee clumsiness or negligence. It is an essential addition for manufacturing companies, energy, healthcare, and the IT sector, where the failure of a single piece of equipment can halt an entire process.
Scope of coverage and technical details
Difference compared to standard property insurance
While standard property insurance covers fire or water damage from burst pipes, technical insurance addresses equipment functionality. If a production line motor seizes due to a material defect, or if an employee drops an expensive server during installation, standard property insurance won't help. Technical insurance fully covers these operational accidents and human errors.
Stationary vs. Mobile Equipment
We differentiate between approaches for permanently installed technologies (production lines, boilers, turbines) and mobile equipment (excavators, cranes, forklifts). For mobile equipment, coverage also extends to accidents during self-propelled transport or fieldwork, including the risk of overturning or getting stuck.
Data and Software Recovery Costs
Electronics insurance isn't just about hardware. A comprehensive policy also covers the costs of reacquiring operating systems and data that were destroyed due to physical damage to the data carrier. This is critical, especially for IT companies, design offices, or healthcare facilities.
Examples of real-world events this insurance covers
Production line motor seizure
Due to material fatigue, the main drive shaft of a press cracked. The insurance company covered the costly repair and express delivery of a replacement part from abroad.
Dropping an expensive device
During a move within the hospital, a nurse dropped a portable ultrasound machine worth two million crowns. Electronics insurance fully covered the damage.
Excavator overturning
At a construction site, an excavator overturned into an excavation pit due to waterlogged terrain. The arm and cabin were deformed. Mobile equipment insurance covered both the repair and the recovery of the machine.
Power surge
A nearby thunderstorm caused a power surge that "fried" the control units of CNC machines and servers. The damage to the electronics was covered by technical insurance.
How Eurovalley can help you
Let's talk about technical insurance
Standard property insurance protects your business from external elements, but for sophisticated technologies, the most common threats come from within or from normal operation. Technical risk insurance covers a wide range of hazards – from design and material defects, short circuits, and overvoltage, to employee clumsiness or negligence. It is an essential addition for manufacturing companies, energy, healthcare, and the IT sector, where the failure of a single piece of equipment can halt an entire process.
