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If you have a laptop, laptop insurance may be a wise purchase for you. If you decide to purchase laptop insurance, however, there are a few things you should keep in mind. For example, if your laptop is for home use, it may already be covered by your homeowner’s policy. If it is used for business purposes, on the other hand, it likely is not covered by your homeowner’s policy.
In order to obtain proper laptop insurance, you may need to purchase a rider for your policy. Be sure to specifically discuss your laptop with your agent in order to be sure it is covered. When purchasing laptop insurance, you also need to ask your agent under what circumstances the laptop is covered. For example, some insurance companies will not cover the cost of replacing a laptop that is lost while you are on a business trip. Similarly, your laptop insurance may only cover the cost of your laptop up to a certain dollar amount.
Since there are so many possible restrictions with laptop insurance, it is important for you to be clear with your agent about your coverage expectations. Ask plenty of questions and discuss possible scenarios for which you may require coverage. If you are not comfortable with the laptop insurance policy offered by your agent, see what options you have for improving the coverage. If you are still unhappy with the coverage offered by your insurance carrier, you may need to purchase laptop insurance from an insurance company that specializes in insuring laptops. These companies provide more options and are generally better prepared to consider various scenarios that may require coverage.
When purchasing laptop insurance from an agency that specializes in laptop coverage, you can specifically protect your laptop from power surges, theft, fire, accidental damage, vandalism, and even natural disasters. Keep in mind, however, that laptop insurance is not a replacement for a warranty. As such, it does not cover breakdowns or regular wear and tear. Generally, laptop insurance providing 3,000 US dollars (USD) coverage will coast about 75 USD per year if it has a 50 USD deductible.
Can you provide some samples of providers of laptop insurance, especially at the price you mentioned?
Googling, I found "Safeware", offering $198 premium for $3,000 coverage, for US/Canada travel, no overseas, for business/professional use.