Should I insure my laptop?

Sunday, May 10th, 2009 | laptops, security

It has been said that taking out an insurance policy is planning for an emergency you hope never happens.  Insuring your laptop is the same – you hope that it will never be stolen or lost, but you insure it just in case it happens.  Based on the hope that a disaster is unlikely to come about, some people decide not to insure their laptops.  But then the unthinkable happens to them!

What should you do?  Should you insure your laptop?  It is a personal decision, which must be based on various factors.

Is insurance compulsory for you?  In some cases the scheme under which you obtain the laptop demands that the laptop is insured – in this case you do not have a choice.  If you purchase the laptop on a hire purchase plan, insurance may be required, but in some cases insurance is included in the finance plan.  If the laptop is provided as part of your remuneration package at work, the employer may insure the laptop, or expect you to insure it.

Will you be able to afford a replacement if you lose the laptop?  Once you start working with the machine you may become dependent on it and would find it difficult to operate without it.  If you can’t afford to replace it with your own funds, an insurance policy makes sense.

Have you read the small print?  Insurance policies contain specific conditions.  For instance, it may exclude cover if the laptop is stolen from a vehicle.  Make sure that the policy covers you for the most likely risks that you are facing.

How old is the machine?  The older the machine, the lower the value and the closer you are to the time when you would want to replace it.  For many laptop users the greatest value lies in the data on the machine, rather than the machine itself.  If you have good backup copies of your data, and you lose the laptop, it may not pose such a big problem to you.

What needs to be insured?  It is not just the laptop that has value – upgrades to the machine and peripheral devices increase its replacement value.

Insurance for your laptop may be included in your household insurance, or could be negotiated as a separate policy.  Find out which option will be the best deal for you.

After considering your personal circumstances, you will be able to reach a decision whether to insure your laptop or not.  But remember that the best form of insurance is to take sensible steps to safeguard it.

Click here to find answers to more laptop related questions.

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8 Comments to Should I insure my laptop?

Mark C
Friday, 15 May, 2009

I think the laptop should be insured. In our case we have an All Risk section to our household and vehicle policy which covers good stolen from cars and even when we get robbed. It is always a good idea to specify the stand-alone computer and laptop amongst the other valuable covered by the policy. Taking out another policy to cover the laptop can be an expensive exercise and companies bagger people to take the additional insurance. We use comprehensive insurance to cover all our valuables.

Zania van Niekerk
Monday, 18 May, 2009

To consider when insuring: The more comprehensive a policy is the better rates can be negotiated (car, household goods…). Household goods would be things that never leave the insured address, i.e. furniture, appliances and desk tops. Things that leave the address would be best to insure under the all risk section of the policy i.e. laptop, cell phone, camera.

Rather speak to a broker if you need quotes or information, they work with a variety of insurance companies and can determine the best cover for your needs.

Insuring a laptop is very expensive, but make sure you know the excess you will be paying in the event of a claim before settling for the cheapest option.

Household insurance
Friday, 12 June, 2009

I think insurance is very use full because anything can happen to you. Accident happens each and every day so it can also happen to you at anytime. It’s better to stay insured.

[...] Should I insure my laptop? | Kobus van Wyk – Should I insure my laptop? Sunday, May 10th, 2009 | laptops, security. It has been said that taking out an insurance policy is planning for an emergency you hope never happens. Insuring your laptop is the same – you hope that it will … [...]

[...] Should I insure my laptop? | Kobus van Wyk – Should I insure my laptop? Sunday, May 10th, 2009 | laptops, security. It has been said that taking out an insurance policy is planning for an emergency you hope never happens. Insuring your laptop is the same – you hope that it will … [...]

[...] Should I insure my laptop? | Kobus van Wyk – Should I insure my laptop? Sunday, May 10th, 2009 | laptops, security. It has been said that taking out an insurance policy is planning for an emergency you hope never happens. Insuring your laptop is the same – you hope that it will … [...]

[...] Should I insure my laptop? | Kobus van Wyk – Should I insure my laptop? Sunday, May 10th, 2009 | laptops, security. It has been said that taking out an insurance policy is planning for an emergency you hope never happens. Insuring your laptop is the same – you hope that it will … [...]

laptop computers
Tuesday, 27 September, 2011

Great to see…something new in laptop Industry. This concept really help designers from all over the world. :)

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