When you buy a brand-new expensive laptop, the thought of something happening to it probably fills you with a sense of dread.
Why wouldn’t it, even the cheapest laptop would have cost you a few hundred dollars. And the warranty that the laptop comes with doesn’t cover accidental spillage or other user damages, nor does it cover theft or vandalism.
To protect your investment from those misfortunes, you need laptop insurance. In this article, we’re going to discuss the details of how laptop insurance works. Followed by a review of several outstanding laptop insurance providers.
Everything You Need to Know About Laptop Insurance
When you’re holding your new laptop in your hands, probably the last thing on your mind is laptop insurance. You’re going to take care of it, right?
Either that or perhaps you’re the sort who prefers to think ahead. You haven’t bought the laptop yet and you’re getting insurance to go with it at the same time.
In any event, if you’re playing it safe, laptop insurance will provide the ultimate peace of mind.
Laptop insurance plans vary depending on several things, but the main factors are your laptop’s value and the length of the Insurance you’re purchasing.
That usually ranges from one to three years, but in some cases, it can be as long as five. These are the common types of losses covered by laptop insurance:
- Cracked screens
- Accidental damage like falls
- Unexpected power surges
- Liquid submersions
- Natural disasters
- Mechanical failures
- Hard drive failure
- Inability to power on
- Theft or vandalism
It’s difficult to think about these things, but they do happen. When you consider that laptops have become tinier and lighter and harder to repair, taking out insurance starts to make even more sense.
Most laptop insurance providers will only cover laptops purchased in the last 30 days, but some will insure even older laptops. So, make sure to keep the receipt if you’re thinking about insuring the device.
Also, keep in mind that you will need to make an insurance claim in the case of damage. And almost every laptop insurer will require you to pay a deductible. Not to worry, as it’s standard procedure for all types of insurance, and in most cases, the deductible doesn’t exceed the amount of $50-$80.
Your laptop insurance policy can be as low as $20 per year, especially if you pay annually. Still, it can also be a lot more expensive if you’re insuring a more expensive laptop or one for work.
Safeware is one of the oldest and most reliable technology insurance companies in the US. They have been trailblazers in the industry for almost 40 years.
They offer innovative insurance solutions and extensive extended warranties for many electronic and household products, including laptops.
Also, they have special plans for businesses as well as individual plans. If your laptop fails within the first year of using it, Safeware will first direct you to the manufacturer for a claim on the warranty.
However, when you’re ready to make a claim that’s not covered, Safeware will handle it and the company is pretty good at it too.
In situations where your laptop is damaged beyond repair, stolen, or lost, they will ask you for proof of ownership or a police report that’s under five days old.
Safeware is an excellent laptop insurance provider that will extend the warranty and relieve the stress of something happening to your new laptop.
Worth Ave. Group
If you want detailed and highly customizable laptop insurance, Worth Ave. Group is up to the task. You can visit their website to get a no-obligation quote, and all you have to do is provide a few pieces of information.
You will get a quote of your insurance premium and your deductible will always be $50, regardless of the policy. You can choose to insure your laptop for up to three years and also the coverage amount.
If you’re worried about whether Worth Ave. Group will cover the model of your laptop, you can rest easy. All models are covered, and there are even special plans for used and refurbished laptops.
Other features include a quick claim process, worldwide coverage, and transferable coverage. Worth Ave. Group is, without a doubt one of the safest and most reliable choices for laptop insurance.
SquareTrade is a well-known technology insurance company that can alleviate all your concerns regarding the safety of your laptop.
It’s owned by Allstate, an insurance company almost all Americans have heard of. SquareTrade’s laptop insurance coverage is comprehensive and extends to liquid damage, electrical and mechanical failure, screen damage, hard drive damage, and even the Wi-Fi adapter.
Depending on how much your laptop costs, you will have a deductible of either $25, $50, or $75. You can also choose not to have a deductible at higher monthly payments.
Also, SquareTrade offers only a 2-year or a 3-year Accident Protection Plan. You can’t get coverage for a shorter or longer period of time. Unlike some laptop insurance providers, SquareTrade only covers laptops that are purchased within the past 30 days.
Securranty offers extended warranty or insurance for gadgets and devices. All plans are comprehensive coverage only.
There are three levels of coverage. An Extended Warranty covers things like battery failure, mechanical issues, hard drive failure, and other parts normally covered under the original warranty – except this one is extended like in for a longer period.
Accidental Damage covers everything that happened to your laptop by accident, whether it’s by defenestration, eaten by the dog, or anything liquid-related.
Finally, you can choose to cover all types of Environmental Damage like power surges, floods, and fire. Securranty will also replace your stolen or vandalized laptop if the claim’s supported by proof of ownership and a police report.
Protecting Your Investment
When you start thinking about all the things that could happen to your precious laptop, you might hurry to get a full coverage policy right away.
For many, it’s always prudent to be on the safe side. That’s why laptop insurance is a great way to protect your investment.
Because the laptop is exactly that. For a lot of people, it’s their primary work tool. So, why wouldn’t they make sure to protect it? And any of the reviewed companies could be an excellent choice.