Laptops are used for work, school, and daily life, but they are also costly and can be easily damaged, lost, or stolen. That is why laptop insurance has been a top choice for those who want to cover their laptops above and beyond the warranty.
Whether you freelance, use your laptop for business, study, or play games, the right insurance can protect you from hefty repair or replacement bills. Here is all you need to know.
What Is Laptop Insurance
Laptop insurance is an insurance policy that protects your laptop from unforeseen circumstances such as accidental damage, theft, loss, or breakdowns once the warranty has run out. As opposed to a warranty which protects your laptop only against manufacturer defects, an insurance policy provides more comprehensive cover.
What Does It Cover
Protection varies with the insurer, but most laptop insurance policies have
Accidental damage
Covers drops, spills, and cracked screens. This is a very frequent reason individuals purchase laptop insurance.
Theft
Insurance can pay for a replacement if your laptop is stolen.
Loss
Loss is covered by some plans, but this typically requires documentation like a police report or flight itinerary if the laptop was lost while traveling.
Breakdowns
If your laptop no longer functions after the warranty expires, insurance can cover repair or replacement.
Power surge or battery breakdown
A few plans offer coverage for electrical problems due to power surges or batteries.
What Is Not Included
Not everything is covered by insurance. Most plans will exclude
Intentional damage
Damage resulting from software malfunction or viruses
Cosmetic damage that doesn’t impact function
Normal wear and tear
Theft or loss without proof
Laptop insurance typically ranges from five to fifteen dollars monthly, varying by laptop value and type of coverage. Additional providers may also come with a deductible if you must make a claim, typically ranging from fifty to one hundred and fifty dollars.
Is It Worth It
Following are a few reasons why laptop insurance could be worth considering
Your laptop is costly or high end
You tend to travel extensively or work remotely
You use your laptop for work or school
You’ve had a pattern of accidents or computer problems
If you’re prudent and have an emergency fund, you can probably opt out of insurance. But most people find that the peace of mind is worth the modest monthly fee.
Where Can You Purchase It
Laptop insurance is offered by a variety of sources including
Specialty insurers such as Worth Ave Group or Safeware
Shopping at Best Buy or AppleCare for MacBooks
Some renters or home insurance policies will also cover laptops
Third-party laptop protection plans such as SquareTrade or AKKO
Final Thoughts
Laptops are among the most valuable and costly devices we use on a daily basis. Laptop insurance isn’t always required, yet it could be a savvy decision if you desire added security from the unknown. Just ensure that you shop around, review the terms, and select coverage that best suits your requirements and lifestyle.
