The "SPECIAL RISK" Business Equipment Insurance Plan is a complete insurance program.
Annual Premium Per $100 of Replacement Value = $2
(Subject to a $50.00 minimum premium)
For example: If the equipment you want to insure is valued at $10,000, here's how you would calculate your premium:
$10,000 = 100 Units $2 x 100 - $200
The "SPECIAL RISK" Business Equipment Insurance Plan is a complete insurance program that covers loss or damage to equipment by theft, accident, vandalism, fire, flood, tornado and other natural calamities.
All the usual audiological and speech therapy equipment you use is covered. You're even covered for the replacement cost of computers and software--including temporary rental fees and reprogramming costs. This Plan also provides coverage for your traditional office equipment such as typewriters, dictating machines and other electronic and video equipment.
With this Plan, your equipment is covered everywhere...at your office or facility, a client's home, in transit, at a school, your home or in your car--24 hours a day.
The cost of this Plan can be tax-deductible as a normal business expense. And...there's no deductible! The Business Equipment Program for ASHA members is the most comprehensive and economical policy you can buy.
Answers about the plan, including eligibility, options, enrollment, customer service and more.
Do I have to insure all my equipment?
No. You insure only what you want to insure. That's an important advantage because if you work for a firm, you may already have coverage for equipment that is permanently kept on premises. Once that equipment is moved off premises however, it may no longer be covered. Since this plan covers your equipment no matter where it's located, you can purchase it to protect only the equipment you normally take off premises.
Do I need this insurance if I already have coverage under my homeowner's policy?
Yes. Your homeowner's policy does not cover any equipment used strictly 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. And if your computer equipment leaves your home, it may no longer be protected!
Is there any other coverage I should know about?
Yes. This Plan provides automatic $10,000 extra-expense coverage to cover the extra expenses you may incur when your computer equipment is damaged or lost. This includes the cost for replacement software, reprogramming and rental of temporary equipment while yours is being replaced or repaired...extra coverage at no extra cost!
What's the minimum premium required under this plan?
Unlike many other business equipment policies that require you to pay minimum premiums in the hundreds of dollars, the Business Equipment Program for ASHA members has only a $50 minimum annual premium. Whether you're just starting to acquire your portable equipment or computer accessories, or you only wish to cover some of your standard business equipment, you can do so without paying extra for coverage you don't need.
What kind of reimbursement can I expect?
This Plan pays you the actual cost of repair or replacement up to the limit scheduled on your policy. No matter how old your equipment is, no depreciation factor is taken into account. Claims are settled on a "new for old" basis!
What should I do if I have a claim?
Any claim or 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, send a police report at once. For repair claims, an estimate of damage must be submitted. For claims resulting from theft or damage to newly acquired property, or for any one item valued over $10,000, you must include a proof of purchase.
Newly Acquired Equipment Protection
If your newly acquired equipment is less than 25% of your policy limit, you receive automatic coverage for up to 45 days when you purchase or take custody of the additional equipment. You have 45 days to notify the Insurance Administrator and you will then be billed for the additional insurance.
Should your newly acquired equipment exceed 25% of your policy limit – notify the Insurance Administrator immediately. You will be billed for the additional coverage.