What is laptop insurance?
Laptop insurance is a type of insurance policy specifically designed to protect your laptop against damage, theft, and other covered losses. Like other types of insurance, laptop insurance can provide financial protection in case of an unexpected event, such as accidental damage or theft, which can be costly to repair or replace on your own. Laptop insurance can be especially useful for those who rely on their laptop for work or school, as a broken or stolen laptop can disrupt daily tasks and responsibilities.
What laptops can I cover with insurance?
Insurance is available for a wide range of laptop models and brands. This includes popular brands such as Apple, Dell, HP, Lenovo, Asus, Acer, and Microsoft, as well as newer models and older models that may no longer be in production. You can also cover iPads and tablets with laptop insurance.
Both new and used or refurbished computer models can be covered by insurance with Oyster and it is possible to purchase insurance at any time, regardless of the age or condition of your device.
Do homeowners or renters insurance cover laptops?
Homeowners or renters policies typically have limitations for laptops as to how they are covered, where they are covered, and how much they are covered for.
Firstly, many homeowner and renter policies do not offer any protection for on-the-go electronic devices. Those that do, typically have very low limits (e.g. $500) and often exclude important coverages such as theft or liquid submersions. There is normally no protection for devices used for business and deductibles are often prohibitively high as they often match the homeowner deductible. Should you need to file a claim against your policy, there is also a risk that your homeowner insurance rates increase.
Oyster has plans built specifically for personal electronics, with unlimited claim submission and the ability to purchase coverage anytime. Plus, coverage through Oyster means your homeowners or renters insurance rates won’t increase if you need to file a claim.
What does laptop insurance cover?
Oyster policies offer protection for all laptops, regardless of whether they are new, used, or refurbished. This insurance covers a range of losses, including:
- Accidental damage: If you accidentally damage your laptop through drops, cracks, or other accidents, you will be covered.
- Theft: If your laptop is stolen or vandalized, Oyster policies can provide protection. Laptops are often targeted by thieves and can be easily damaged in acts of vandalism, making it important to have insurance coverage in case these types of incidents occur.
- Water damage: If your laptop suffers liquid damage from spills or being dropped in water, Oyster policies will provide protection.
- Fire, flood, and natural disasters: In the event that your laptop is damaged in a fire, flood, or natural disaster, Oyster policies will provide coverage.
- Power surge by lightning: Lightning can cause serious damage to electronics, including laptops. Oyster policies offer protection against this type of damage.
What doesn't laptop insurance cover?
Oyster insurance plan offers comprehensive coverage for your laptop, but there are a few exceptions to what it covers, including exclusions for intentional damage, cosmetic damage, and general wear and tear. There is also no cover for computer viruses or any software issues.
Should I insure my laptop?
When it comes to protecting your laptop, having insurance can be a smart investment. One of the major benefits of laptop insurance is that it helps you reduce the cost of out-of-pocket expenses when accidents or other unexpected events occur. Whether you're dealing with damage to your laptop or it has been stolen, the cost of repairs or replacement can be significant.
If you're considering whether or not you need insurance for your laptop, it's worth thinking about whether you would be able to afford the cost of repairing or replacing your device if anything happened to it. Accidents and other unforeseen events can happen at any time, and having insurance can give you peace of mind and help you protect your investment in your laptop.
Do I need laptop insurance if I have warranty protection?
Laptop insurance offers protection that goes beyond what a warranty typically covers. While a warranty is a form of limited protection that comes with the purchase of equipment and covers issues such as manufacturer's defects, it does not typically cover theft or accidental damage. Laptop insurance protects against a variety of damages including cracked screens, spills, liquid submersion, and drops.
Additionally, warranties are often only valid for a limited period of time, ranging from a few months to a couple of years, whereas insurance policies typically allow you to continue receiving coverage as long as you pay the premiums. This means that you can have ongoing protection for your laptop, rather than the limited coverage provided by a warranty.
Will laptop insurance cover repair costs if someone else damages my computer?
Yes. Laptop insurance can typically cover accidental damage, whether it is caused by you or someone else, as long as it is not the result of neglect. For instance, if your laptop is accidentally damaged due to a drink being spilled, laptop insurance can cover the cost of repairs.
How much does laptop insurance cost?
The cost of laptop insurance can vary based on factors such as the type and value of the laptop, the extent of coverage desired, and the specific terms of the policy. However, the relatively low cost of insurance can be worth it to protect against the potential expenses of repairing or replacing a damaged or stolen laptop. It is important to consider the value of having peace of mind and financial protection. Oyster laptop insurance plans are very affordable, starting at just $18 per year.
How do I get laptop insurance?
The best way to find out exactly how much insurance will cost you is to get a quote. It takes less than 2 minutes to get a quote for a policy with Oyster.
How do I insure my laptop for travel?
Oyster laptop insurance provides protection for your device no matter where a covered incident occurs. This means that your laptop is protected whether it is at home, outdoors, or even when you are abroad. This can give you peace of mind knowing that you have financial protection in case of any unexpected events involving your laptop.
