Laptop
insurance

How to Insure your Laptop

How to Insure your Laptop?

Whether you use your laptop for work, school or pleasure, it is good to remember that laptops don’t come cheap. It can be one of your most valuable assets that you carry with you from day to day and can easily be lost, stolen or damaged.

This is why it is always in your best interest to carry adequate laptop insurance. You just might be surprised to find that a good laptop insurance UK policy isn’t as expensive as you think it might be. The key is to shop around a bit to find the best cover for the lowest price.

Be Mindful of Excess

Before getting quotes from various insurance providers, be mindful of the fact that most companies have fees in accordance with the amount of excess you choose.

For example, one policy might cost £2.99 with an excess amount set at £500 whilst another policy from the same company might cost £4.99 per month if the excess is £250. Excess is the amount you pay upfront before the insurance company pays anything.

Therefore, if your laptop is only worth £650 new out of the box, you would not be advised to carry a policy with a £500 excess because you wouldn’t be gaining much after having paid your policy for a number of months. In other words, make sure your excess is balanced between the replacement costs of your laptop.


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Policy Restrictions to Be Aware Of

Most, if not all, laptop insurance policies have restrictions and clauses. This is standard on all types of insurance.

How to Insure your Laptop

Things to be cognisant of would be how and when your laptop can be used. For example, some policies may not cover laptops mounted in vehicles because it may be covered under automobile insurance if there is an accident or theft.

Some automobile insurance policies cover theft of personal contents. Restrictions may include existing cover on other policies such as homeowners insurance.

If you travel a lot, there may be restrictions for how the laptop is to be transported as well as what to do in case of theft in a foreign country.

Perhaps some laptop insurance policies only cover the machine if you are using it and perhaps some will cover your laptop if a friend is in possession of it when it is lost, stolen or damaged.

Some laptop policies only cover the machine whilst others cover the software which is vulnerable to hacker attack.

Here again, read the restrictions before buying a policy based solely on price.

It is agreed that we should all carry sufficient insurance to guard against loss of our most prized possessions, but the key is to find the right cover for your specific needs. In light of this, it pays to do some comparison shopping between reputable providers so that you feel secure in knowing you have the cover you need to replace your laptop. There is no way to replace your digital family photos you have on your hard drive or your contacts in outlook unless you have removable or online storage, but laptop insurance UK can help you replace the laptop itself often within as few as 24 hours with the right cover.


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