How to Insure your Precious Laptop?

Laptops are getting smaller and lighter each day. Other than being constant companions of our daily life we have become dependent on them. Laptops have replaced desktop because they can be carried around anywhere you go. We use our laptops to connect to the internet and access information on the go, post to blogs and use social networking websites.

Laptops are also fairly expensive and losing one can be a disaster. You would not only need to spend money on buying a new one but also lose all your data on the laptop. The fact is as laptops get smaller it becomes very easy for someone to conceal it if they intend to steal your laptop. They could just slip the laptop in a backpack or in their jacket and walk away with it.

 

This is why you should consider purchasing laptop insurance for your laptop. Let’s take a look at what you need to keep in mind while purchasing laptop insurance.

·         Premium – Some policies offer monthly while other offer annual premium. If it is annual premium you will have to pay the first premium in advance. Different policies will charge different premium so don’t purchase one based on the premium payable. Check what you get for the premium you pay and choose a cost effective policy.

·         Excess payable – Excess payable is the amount you need to pay in advance that is based on a certain percentage of the value of your laptop. Make sure to check with the insurance provider how the exact excess you will need to pay. This is a onetime payment and the higher excess you pay the lower your premium will be and vice versa.

·         Coverage – Most laptops insurances will cover theft and damage. But these have a fine print too make sure to find out what damages are covered and what are not. Also if you tend to travel with your laptop overseas make sure whether your laptop comes with International or just domestic coverage. Students studying in universities should seriously consider purchasing an insurance to protect themselves against theft or accidental damage.

·         Replacement – You need to consider if they will replace your laptop or just reimburse a percentage of its value. Also if they replace it how long would it take for a replacement to be given. In case a laptop is damaged beyond repair and fixing it costs more than 75% of its value most insurance companies choose to replace it.

Laptop insurance is a great buy. You insure your home and your car so why not consider insuring your laptop when it contains all your important data?