Guide To Understand The Importance Of Laptop Insurance

A laptop is an essential tool for both students and professionals. So you must have laptop insurance also. Lets see why its so necessary. The use of laptops and computers in meetings has dramatically increased as more and more activities have moved online.

Their portability is a big selling point because it allows the owner to get work done whenever and wherever they like. Due to their portability and versatility, laptops are quickly replacing desktop computers.

People’s smartphones become integral parts of their lives because they’re used for so much more than just getting work done. When there’s any kind of problem with this machine, even going without it for a day becomes difficult. In such a case, having insurance on your electronic devices is a must.

A laptop is still a machine, and as such, it is vulnerable to damage. It is possible to lose data, and in such cases, replacing the device may be the only option. Having laptop insurance will cover the cost of any necessary repairs or replacement.

This can be very stressful for a student who has an assignment due or an employee who has a crucial deadline to meet. It’s not cheap to buy a laptop, and it’s even more expensive to get it fixed if something goes wrong.

Because of this, a common concern is whether or not a laptop can be covered by insurance. Together, we can find out everything we need to know to properly cover your laptop.

Is It Possible To Get Insurance For A Laptop?

If you’re looking for a short answer, then yes. Your laptop is something you should insure. Best Insurance for laptop is typically categorised alongside policies for other portable electronic devices.

If your laptop is damaged by one of the specified perils, your insurance will pay for the repairs. When damage occurs, insurance typically covers the bill. The next natural inquiry is whether or not you intend to purchase laptop insurance.

In this article, we will discuss why it is recommended to purchase laptop insurance :-

  • The laptop’s warranty may not pay for the damage, but this policy will.
  • If the laptop is stolen, the insurance company will pay the full amount of the policy, allowing the policyholder to easily replace the device.
  • If the laptop is broken, the insurer will cover the cost of fixing it so you don’t have to worry about it.

Exactly What Is Covered By A Laptop Insurance Plan?

Laptop protection plans against the following risks is included in the policy for your laptop :-

  • Inability to function due to a mechanical or electrical malfunction
  • The laptop screen is broken or cracked.
  • Misplaced laptop
  • Having your laptop broken into or stolen
  • When the laptop gets broken by accident
  • The laptop has a loose part or a dead battery.
  • The laptop was ruined by a leak or a spill of liquid.
  • Damaged LCD screen
  • RAM failure or malfunction
  • The laptop’s hard drive has crashed.

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What Type Of Issues Are Not Covered By The Policy?

While the policy will compensate you for the loss of your laptop due to the aforementioned dangers, it won’t pay for everything.

Understanding why a claim for such things won’t be paid is crucial. Let’s run down a short list of them:-

  • Damage to the laptop that was intentionally caused by either an outside party or the owner
  • Riots, war, terrorism, and other man-made or natural disasters can cause significant property damage.
  • Wear and tear, or depreciation, of the laptop as a result of normal use
  • Prior to purchase, the laptop had any pre-existing or manufacturing defects
  • Weather-related laptop damage is not covered.
  • Regular laptop maintenance is not covered by the insurance policy.
  • Accidental breakage while fixing something.

Where Can I Purchase Insurance For My Laptop?

One must get in touch with the laptop insurance provider directly if they wish to purchase laptop insurance. It is crucial that you fully grasp the coverages and exclusions of your laptop insurance. 

After submitting the necessary paperwork and having the proposal accepted, the premium can be paid and the laptop insurance policy can go into effect.

To get your laptop insured, you’ll need to prove that you are the rightful owner by showing the insurance company a copy of the bill of sale.

Any time your property sustains damage from one of the insured perils, you must report it to your insurance company immediately.

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The following procedures must be carried out in order to accomplish this:

  • If your laptop was damaged, your first step should be to contact your insurance company. A claim number will be issued after the claim is registered; this number must be included in any further correspondence regarding the claim.
  • The victim must report the laptop theft insurance to the local police department by filing a First Report of Loss (FIR). Having duplicates of the same information is essential in case of emergency.
  • The insurer may send a surveyor out to take a look, or they may send the vehicle in for servicing to get an idea of how much it will cost to fix.
  • In order to get your insurance claim settled quickly, you need to submit all supporting paperwork to the insurance company. The claim form, photographs of the damage, proof of ownership identification, and a police report (in the case of a stolen laptop) are just some of the documents that will be required.
  • As soon as the insurance firm has calculated the amount of the claim, either through the surveyor or the service centre, the claim report will be created.
  • In a cashless situation, the insurance company would foot the bill for the repairs. Unless it’s a cashless transaction, the money will be deposited into a bank account.

In What Ways Would You Benefit From Purchasing A Laptop Warranty?

In today’s world, where disaster can strike at any time, protecting your laptop with insurance is a must.

Here are just a few of the many advantages of purchasing a laptop warranty from a reputable company like Securranty:-

  • Damage from falls, cracks, spills, or any other malfunction is covered by the insurance.
  • When filing a claim, you will not be required to pay a large deductible.
  • Purchasing a laptop protection plans for your laptop can save you money on the price of new components and repairs.
  • You will not incur any fees for sending or receiving your laptop to or from the depot.
  • Worldwide coverage is provided.

 Does My laptop’s Warranty Count As Insurance?

Most computers come with some sort of warranty or guarantee from the manufacturer for the first year. Keyboard malfunctions, hard drive crashes, and other issues attributable to manufacturing defects are common examples of what this warranty covers.

Laptop insurance for students

However, if your roommate steps on your laptop, neither the warranty nor the homeowner’s insurance will cover the damage.

That’s because “negligence” is the legal term for  laptop accidental damage insurance (you should have avoided dropping it) in most cases. However, it is still recommended that you review the warranty and insurance policies in detail.

For the sake of argument, let’s say you prefer Mac, each Macbook comes with a one-year “hardware repair coverage” and ninety days of “technical support” warranty. Apple, however, also provides an optional, more expensive protection service. Purchasing AppleCare+ for a new 13-inch Macbook within 60 days of purchase will set you back $379.

This upgrade provides you with battery service if your laptop only charges to 80%, technical support for three years, and two incidents of  laptop accidental damage insurance (subject to $99 service fees).

However, there is a catch: the plan doesn’t cover theft, comes with hefty fees, and is prohibitively expensive.


These days, most people simply cannot function without their expensive and indispensable laptop computers. A hole in one’s wallet may result from the damage and the subsequent repair costs.

Certain repairs may or may not be covered during the warranty period, but only if they occur during the warranty’s coverage period.

As a result, it’s crucial to have laptop insurance to cover the cost of repairs. The ELECTRONIC EQUIPMENT INSURANCE provides solid coverage, and optional riders let you tailor the policy to your specific needs. Therefore, if you own a laptop, you should definitely invest in laptop insurance.

Frequently Asked Questions

Can laptop insurance be purchased?

If you need a simple yes or no, then the answer is yes. Your laptop can be insured. Insurance for portable electronic devices includes laptops. If your laptop is damaged by one of the specified perils, you’re covered.

Do any companies offer protection against loss caused by a computer?

There is no set price for computer insurance because premiums are based on the company and the level of protection desired. It will be more expensive to insure a high-priced computer.

Progressive’s computer insurance plans have deductibles as low as $50 and a policy term length of one to three years.

Analyse this plan alongside those offered by competing laptop insurance providers.

If my laptop gets damaged, how do I file a claim?

To report a claim for loss or damage to a laptop due to an insured peril, such as those listed in the policy’s “general risks” or “allied perils,” the policyholder must contact the insurance provider immediately by calling their toll-free customer service number or otherwise informing the company in a timely manner through the channels for customer support established by the insurer.

What kinds of insurance policies safeguard electronic devices?

Theft and computer malfunction are two of the common dangers covered by commercial property insurance.

Is it wise to invest in a laptop warranty?

Because of the low likelihood of needing a repair, the low cost of repairs or even replacement, and the fact that you can usually live without the item for a while, extended warranties are usually not worthwhile for consumer electronics.

About Author
Kevin M Edwards is an investing writer who join Govt Grants Help in 2021. He covers a wide variety of investing topics including mutual funds , cryptocurrency and financial advice. His work has been featured in The New York Times , The Washington Post , Yahoo finance and MarketWatch.

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