Many Massachusetts businesses have thousands, and sometimes tens of thousands, of dollars invested in computers and mobile devices. Because computers are so valuable -- and the data on them is often even more valuable -- it’s important to make sure they’re properly insured. To best insure your business’ computers, your company will probably need a combination of cyber insurance, commercial property and inland marine insurance. Here’s a look at how these three coverages can work together to help protect your business’ computers and the data on them.

How Can Inland Marine Insurance Add More Protection for My Massachusetts Company’s Computers If the Business Has Cyber and Commercial Property Coverage?

Cyber Insurance Covers Data Stored on Computers

Cyber insurance generally provides protections for the digital information stored on computers and mobile devices. Depending on a particular policy’s terms and conditions, it may offer coverage for hacks into a business’ computers, ransomware attacks, data breaches and even forgotten devices (e.g. a device that was accidently left in an airport), among other potential perils. The particular incidents that a cyber insurance policy covers will depend on the policy’s terms and conditions.

Cyber policies usually only cover the non-physical information that’s stored on computers. They may offer protection from a number of perils and in many situations, but their protection is normally limited to digital data. They typically don’t offer any coverage for physical computers and devices themselves.

Commercial Property Insurance Covers Computer Equipment on Company Property

Commercial property insurance normally offers coverage for businesses’ physical equipment, which frequently includes computers and mobile devices’ hardware. Thus, computer property policies complement cyber policies nicely. Cyber policies typically cover non-physical data, while commercial property policies usually cover physical components.

The amount of protection that commercial property policies offer for computers’ hardware often varies depending on where a business’ computers are, though. Policies sometimes provide robust protection while computers are on a business’ property, but they may afford only minimal coverage for computers that are taken off company property.

For example, a policy might have lower coverage limits for computers when the computers are taken outside of a business’ stores, offices or warehouses. As long as computers are kept inside these spaces, a policy may offer plenty of protection. When computers are taken outside of these spaces, though, a Massachusetts business might need additional coverage.

Inland Marine Insurance Offers Coverage for Computer Equipment in Transit

Inland marine insurance is frequently able to provide that additional coverage. Inland marine coverage is specifically designed to protect equipment that’s being transported, and many insurers offer include computers and mobile devices among their policies’ covered items.

Thus, a business may be able to use commercial property and inland marine coverage together to ensure its computer hardware is properly protected while in and outside company facilities. When computers are on company property, they’ll likely be covered by commercial property coverage. When they’re outside company property and being transported, even if just driven to a client’s site, they’ll probably be protected by inland marine coverage. 

This two-part coverage combination can be especially useful for businesses and organizations that frequently have multiple computers and mobile devices off of company property. For example, police departments, fire departments, sales companies, consulting firms and general contractors might benefit from having good protection for their computers while responding to emergencies or going to clients’ sites.

Let a Massachusetts Agent Help Get Your Business’ Computers Insured

For help making sure your business’ computers are properly insured, contact an independent insurance agent in Massachusetts. An independent agent will be able to help your business find cyber, commercial property and inland marine insurance that will work together to offer robust protection for your business’ computers and mobile devices.