Electronics Business Insurance

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Why Electronic Firms Need Business Insurance

Whether your business produces consumer products, communications equipment, computer parts, or other technological or electronic components, working with electronics can expose your company to some specialized risks. You also must manage the risks that are common to many small businesses like property damage to your place of business or loss of important documents, files and records. Learn about the insurance coverages electronics businesses typically need, and most often purchase, from The Hartford.
 

Business Owner’s Policy

Most electronics businesses need a Business Owner’s Policy (BOP). A BOP can help safeguard your electronic firms in much the same way a homeowner’s insurance policy helps protect your home and personal possessions. 
 
By combining three basic insurance coverages that are important to small businesses everywhere, including electronics companies, a BOP can help save you money on insurance rates while helping protect the business that means so much to you.
 
  1. General Liability – helps protect your electronics business from certain lawsuits alleging injuries or property damage that occurred as the result of your business operations, like if a customer is injured at your warehouse or an employee causes damage to a customer’s property while dropping off electrical components. It even helps cover certain claims of slander and libel. Business Liability insurance does not cover liabilities directly arising out of the professional services you may provide.
  2. Commercial Property – helps protect the place where your electronics company does business and the things you use to conduct business, like tools and equipment – whether you own or lease them.
  3. Business Income – helps cover the loss of income when you can’t run your electronics business because of covered property damage.
Learn more about our Business Owner’s Policy for your small electronics business.
Easily Add Optional Insurance Coverages to a Business Owner’s Policy
Electronics companies depend on power and communication services. Imagine what might happen to your business if you didn’t have access to electricity or water for an extended period. Business Income for Off-Premises Utility Services Coverage (OPUS) covers loss of income caused by interruptions in utility services beyond your control, such as when a storm downs power lines, cutting off electrical service for several days. Unlike most other insurance companies’ offerings, OPUS coverage from The Hartford starts as early as 12 hours from initial interruption of utility service.
 
With OPUS, electronics companies can get insurance that provides power interruption protection and safeguards their income against outages of other utilities as well.
Your electronics business systems and software regularly interact with those of your vendors and customers to share plans, order parts, fulfill customer requests and more. 
 
Computers and Media Coverage helps pay to research and replace lost data and the resulting loss of business income, if your business’s computers sustain covered damage or a virus corrupts your records.
Electronics companies often store information about their employees or clients, including Social Security and credit card numbers. 
 
Data Breach Coverage helps pay the costs of notifying impacted individuals, managing public relations, good faith advertising, and more if personal information is lost or stolen from your electronics company.
 
Learn More About Data Breach Insurance
 
If you transport or deliver the electronics your company manufactures, then you could be vulnerable if they’re damaged or stolen in transit. Transit Coverage helps protect against loss or damage caused while goods are being transported by a hired carrier from one location to another, something most business insurance policies don’t cover. 
 
For businesses without owned or long-term leased vehicles that would need to be covered on a Business Auto policy.
Bundle Insurance Coverage for Electronics Businesses
It’s easy to increase your electronics Business Owner’s Insurance (BOP) protection at an affordable price with The Hartford's Stretch® endorsements that bundle valuable key coverages. For electronics companies, we offer:
 
  • Manufacturers Stretch
  • Super Stretch for Electronics Manufacturers
  • Super Stretch for Business Services
Contact an agent or a representative from The Hartford about these cost-effective solutions that help take the guesswork out of selecting the right coverage for your electronics business.

Additional Solutions

If you have employees, use a car for work, or work from home, your electronics business may also benefit from:
Other Important Insurance Options for Electronics Businesses
Required by most states, workers' compensation insurance provides benefits to employees of your electronics company for work-related injuries or illnesses including medical care, wages from lost work time, and more. And if the worker’s family decides to sue you, coverage can help you with related legal fees. 
 
Businesses have been turning to The Hartford for workers' comp coverage for more than a century. 
 
Do you use your car to meet customers, pick up supplies, make deliveries, travel to electronics shows or technology conferences, or more? 
 
A Business Auto Policy provides coverage generally not included in a personal auto insurance policy. It can cover you or an employee when a personally owned vehicle, used for electronics business purposes, is involved in an accident. 
 
If you run your electronics business out of your home, you probably want a Business Owner’s Policy (BOP). A BOP provides coverage not generally available with a homeowner’s insurance policy.
 
Ask yourself, “Do I have customers come to my home, do I keep business files and supplies in my house, or do I have inventory or employees at my home?” If so, your agent or a representative from The Hartford can help you select the right coverage to protect your business.
Certain coverages vary by state and may not be available to all businesses. All Hartford coverages and services described on this page may be offered by one or more of the property and casualty insurance company subsidiaries of The Hartford Financial Services Group, Inc. In TX, this insurance is written by Sentinel Insurance Company, Ltd., Hartford Casualty Insurance Company, Hartford Lloyd’s Insurance Company, Property and Casualty Insurance Company of Hartford, Hartford Underwriters Insurance Company, Twin City Fire Insurance Company, Hartford Accident and Indemnity Company and Hartford Fire Insurance Company. In CA by Sentinel Insurance Company, Ltd. (CA license # 8701) and its property and casualty insurance company affiliates, One Hartford Plaza, Hartford, CT 06155.
 
The Hartford® is The Hartford Financial Services Group, Inc. and its property and casualty subsidiaries, including issuing company, Hartford Fire Insurance Company. Its headquarters is in Hartford, CT.