Laptop Insurance

Laptop Insurance

If you've recently bought a new laptop or notebook computer then there are two very important things you should do straight away. Firstly, set up a routine to ensure you regularly back up the data on it. Secondly, get it insured now for thief and accidental damage.

Anyone who has had a laptop stolen will advise you exactly the same as it is incredibly frustrating if things go wrong. Given that nearly 200,000 laptops are damaged or stolen each year, you won't find a shortage of people with horror stories about how and why it all went wrong for them.

However, laptops are expensive and portable and that means premiums can be high. But, the market for laptop insurance is still competitive and you will be able to find a deal to suit your needs.

The Important Questions

Am I already covered?

The first thing to do is to check your home contents insurance policy, if you have one. It may be that your laptop is already covered by this policy or it can be added to the policy at a very small additional cost. However, as these policies are not tailor made to cover laptops read the other questions listed below and make sure you will be fully covered.

Should I just buy the laptop insurance offered to me when I buy my laptop?

Probably not, but do check to see what is offered. Often the people selling the laptop to you will offer you an extended warranty and maybe accidental damage cover too. This will often be in the form of a 3 year deal with a monthly payment on top of what you have already paid for the laptop. Any policy offered in these circumstances is unlikely to protect you against thief. It is however likely that you will be able to buy a different policy from a specialist provider that will offer not only accidental damage and a warranty, but will also cover you for thief. A policy from a laptop insurance specialist (or even one from you home contents insurance provider) will probably be of far greater value than any policy you get offered when you buy the laptop. Do carefully check and compare the various policies available though.

Aren't all laptop insurance policies the same?

No! Laptop insurance policies vary wildly and you have to be very careful to check the small print when signing up. The premiums you can pay range considerably and the level of cover and service you receive will depend very much on what you are prepared to pay. For example some laptop insurance providers won't pay out if your laptop is stolen from a locked car at night, even if the laptop was left out of sight. Also most policies will give a standard length of time you are allowed to take your laptop abroad. if you travel regularly and extensively you need to check whether you will be covered for the whole time you are abroad. Spend time to work out exactly what you need from your laptop insurance and then carefully choose your policy accordingly.

How much should I pay for laptop insurance?

The answer to this is very subjective. You should pay what you can afford to, whilst ensuring you are covered for the things that are important to you. There is nothing worse than paying for an insurance policy and then discovering that you are not covered in the event of a problem. Check the prices and offers available and base your decision on the specifics of the policy. Remember that the laptop insurance industry is very competitive and you will almost certainly find the right laptop insurance deal at the right price.