Why should you bother with laptop insurance?

This is a logical question, especially since you probably have many other obligations requiring your money, and insurance requires a monetary investment.

Well, it really boils down to how you perceive risk.

The Cost of Your Laptop

Whatever else one may say about your laptop, it's unlikely that you got it for free or that it can be described as cheap.

What would you do if your laptop experienced one of the following:

- it was destroyed in an accident
- it was stolen
- breakdown outside of the manufacturer's warranty period;

Then you're going to have to start checking your bank and credit card statements to see if you can afford to buy another. That is, unless you have laptop insurance.

That's where perceptions of risk come in.  If you think none of those things could ever happen to you then laptop cover may seem to be an expensive luxury.

If, on the other hand, you know from past life experience that your luck is something less than 100% reliable, then this form of gadget insurance may be for you.

The cover available

You may find that for a relatively modest cost, you can protect your laptop against the above risks. As with any insurance product, terms and conditions, exclusions and limitations will apply and you may wish to read these carefully to ensure you understand them.

If you travel a lot, you might want to insure you have global coverage, so you won't have to stress when you take your laptop on trips overseas.

Plus, you should consider and research whether the laptop insurance providers offer insurance coverage for your other electronic devices such as iPads, iPhones, PDAs, and cameras.

Putting in Your Claim

Let's hope it never happens but if it does, there are a few things to keep in mind:

- if you are making a claim for theft, you need to show that your laptop was in a secured, locked area or stored and locked away somewhere
- theft claims must be reported to police in less than 24 hours and typically you'll have to show this by the acquisition of a police crime number:

- typically insurers won't cover accidental damage and destruction claims that arose from you tampering with the laptop or trying to fit accessories.

So, laptop insurance may help you out of a crisis and as such, it might be seen as a small price to pay.

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