If mobile phones get insured then why not laptops?

Worrying about your laptop’s safety? Read below how laptop insurance would help you.

Living in a tech-savvy world has increased the usage of laptops. Be it a school presentation or your office work, and you always need a laptop to do the same. What happens if it gets damaged or there’s some software issue? You stress over because it impacts your related business, i.e. a student will fear for his grade, and an employee will not be able to complete an important presentation.

In this fast-moving world, you cannot afford to waste even an hour. So, to avoid such problems, it’s better to get your laptop insured. Also, laptops are costly, and it’s a long-term purchase decision, so if any accidental damage happens, a lot of money goes into replacement or repair.

We know you get a one-year warranty on your laptops, but what if something happens after it expires? You’ll lose your money and files saved in it.

To keep yourself away from such risks, read below how will laptop insurance help you.

What does a laptop insurance cover?

It covers a range of damages which are caused due to some familiar occurrences. Read the list below to know the coverage:

• Screen damage due to any crack is widespread, and mostly it gets covered in the insurance plan depending upon the company’s policies.
• Loss of device because of theft or robbery.
• Mechanical or electrical issues are also covered through an extended warranty option.
• Some insurance companies also have discount offers on the premium amount under some insurance plans.

These are the covers that you get in your insurance plans and are enough because a laptop cannot undergo more than this. Even the coverage varies from company to company, so read the documents and compare the plans carefully.

Laptop insurance Exclusions

Though it covers a lot of damages, it’s not subject to include certain situations. You might want to know these exclusions so here’s a list of it:

• Damage caused due to malicious intent or negligence of the owner.
• Already existing faults and damages in the machine.
• Daily wear and tear, gradual degradation, erosion due to climatic changes won’t be covered in the insurance policy
• Any damage due to terrorist activities.

So, before you claim, check the damage isn’t related to any of the above reasons. It won’t give you the approval for cashless replacement or repair.

How to claim for it?

Following are the steps that would guide you to claim for any damage:

• Immediately inform the insurance company in case of any loss or damage due to an accident, theft, or allied perils.
• Once this is done, file an FIR if the laptop gets stolen and make sure you handover the FIR copy to the insurance company at the earliest.
• Next up, you need to submit the purchase invoice/bill of the laptop to the insurance company, policy number, ID proofs as requested by the company.
• The insurance company then assigns an assessor to investigate the case and take action accordingly.
• The repair, replacement, reinstatement of any part of the laptop or the complete machine is processed as per the laptop policy guidelines.

There are only a few companies that have laptop insurance policy. So, make sure you pick the best plan and make the most of it.

1. TimesGlobal

It is one of the leading companies to provide laptop insurance with an array of plans.

Following are the plans as per price and tenure.

Image Source: Times Global

The features of the plans include:

-100% Cover for Screen Crack, drops, damages and malfunctions.

-90% of the invoice bill gets paid on the stolen device.

-Covers Apple Macbook (Pro, Air), HP, Dell, Lenovo, Acer, Sony, Samsung, Toshiba, and Microsoft surface.

-The plan includes a free extended warranty.

• ICICI Lombard Laptop Insurance

It comes under its Electronic Equipment Insurance policy, which encompasses other devices as well.

The policy covers material damage to the laptop machine, including software issues caused due to unforeseen events.

Plans vary according to the price of the laptop and the time selected for the insurance.

For more details, you can check their policy terms and conditions.

• OneSiteGo Insurance

It has a plethora of appliance insurance which includes laptop insurance plans too.

Plans start from Rs. 899 for a laptop priced up to Rs. 5000 and it varies depending upon the price of the laptop.

It covers physical damage, liquid damage, shattered screen.

Plus it comes with an extended warranty which covers malfunctions and breakdowns.

They also provide free pick and drop facility to the owners.

So, Don’t let your laptop suffer and risk. Hurry up and get your laptops insured to work hassle-free.

Also read: Smartphones require insurance too

Tags: insurance, laptop insurance, laptop