Do You Need Computer Insurance Coverage for your Laptop?

Times Have Indeed Changed

If you’d told anybody twenty years ago that people one day would take out computer insurance on their computers, they might have scoffed at you or given you a puzzled look. However, with the number of people who rely on their computers for school and business use, computer insurance is coverage that many computer users may want to consider.

What is Covered

In particular, computer insurance for laptops is coverage designed to provide replacement cost protection for your laptop (including Macs) as well as netbook, notebook, smartbook, tablet, and desktop devices. Policies can also provide coverage at an additional cost for such electronic items as cell phones, smartphones, iPods, MP3 players, gaming systems, and digital cameras.

Individual Policies

Typically, a laptop policy provides protection for a laptop or desktop computer. Many companies do not allow you to list several computers on one policy. Therefore, you have to buy a policy for each computer that you choose to insure.

Types of Policies

Laptop insurance, generally, can be purchased for spans of time of one, two, or three years with various deductibles. To cut the cost on your payment, you may want to select a plan with a $50 or $100 deductible. Therefore, for a replacement cost policy, you’d be responsible for paying the first $50 or $100 of the amount it takes to replace your computer.

Replacement Cost Policies

Replacement cost policies are better than insuring a computer for its actual value as you you’ll receive the full value of the computer without subtracting depreciation. Actual value policies deduct the amount calculated for depreciation from the value determined for the computer or laptop.

Calculating the Cost

If you have a laptop, say, that is worth $300 and you insure it for a year without a deductible, then you’ll probably expect to pay about one-tenth of that amount in insurance coverage. For items that you add, such as iPods, MP3 players, and PDAs, expect to assume about $10 extra in the total amount you pay on your premium. Include around an additional $5.00 for the year for each ancillary item that you include on your policy, such as digital cameras or gaming systems.

Review the Coverages for Yourself

If you are someone who uses their computer quite extensively, then you might want to check out the prices and coverages available for computer insurance. Coverage can usually be cancelled within 30 days if you change your mind.

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