You can get laptop insurance as part of contents insurance which covers all belongings kept at your home – this is often a better value-for-money option.
You can insure your laptop with single item insurance – this is usually a cheaper option.
If you want protection outside the home, you can add on portable cover to contents or single item insurance policies.
What are my laptop insurance options?
Contents insurance
Contents insurance is designed to cover all the belongings inside your home, including your laptop. If you want to protect specific items you frequently take outside, like your laptop, you can add on portable contents insurance to your policy.
This is a cost-effective way to insure the items you value most, like your phone or laptop. It's a good option if you only want cover for specific items and you can pay extra to protect your laptop outside your home.
Get laptop insurance with contents insurance
What does laptop insurance cover?
A contents or single item insurance policy can cover your laptop for loss or damage as a result of the following:
Accidental damage. This includes dropping it, spilling liquids on it, stepping on it or damaging it in an auto accident. Just remember it won't cover scratches, dings and dents if they don't affect your laptop's performance.
Accidental loss. Most insurers will cover you if you lose your laptop but only if you can explain how it happened.
Fire, storm and other natural disasters. Your policy will cover most natural disasters. However, many exclude flooding unless you add it on for an extra charge.
Theft. Most policies cover you if your laptop is stolen unless you act irresponsibly, like leaving it on a table while you pop into a bathroom or you leave it alone in an unlocked car.
If you go with a standard contents insurance policy, you'll have the added benefit of protecting the other belongings in your home like your mobile phone, TV, furniture and basically any other item kept at your home.
Can I get laptop accidental damage insurance?
Most laptop insurance policies will cover you if you accidentally damage your laptop. However, the damage usually has to be substantial and affect the laptop's functionality.
You won't be covered against scratches, dents and dings, but you can be covered for damaged screens, ports and keys as well as equipment malfunction caused by an accident.
How much does laptop insurance cost in Australia?
Laptop insurance costs around $85 per month, but prices can range depending on how much your laptop is worth, how old it is and whether or not you want it insured outside the home as well. Check out the graph below for an idea of costs.
Quotes were obtained for the same three-bedroom NSW home in Baulkham Hills.
Building replacement costs for all quotes was $1,000,000, with an excess of $500.
Contents were valued at $100,000.
Quotes were obtained in 2020, for a contents insurance policy with laptop cover for a limit of $3,000.
Occupied by the home owner who moved into the property in 2019.
Three-bedroom, one-storey home unit on flat ground with brick veneer walls, terracotta tiled roof and built in 1980.
Ready to compare laptop insurance?
Your best bet is to get quotes from a few different insurers in order to avoid paying too much. Just make sure you pay careful attention to what each policy offers. You don't want to skimp on the policy features just to save a few bucks.
If you're a student, you can insure your laptop using any of the methods outlined in the article. However, it's worth getting a laptop insurance policy that'll pay to help you recover lost data from a bricked computer. For example, Westpac will cover the reasonable costs of re-establishing your records and data lost if your laptop breaks due to an insured event.
If your laptop was given to you by your university or department, you might want to see if it's already covered by the administration's policy before purchasing your own.
How to find the best laptop insurance in Australia
Finding the best laptop insurance in Australia can be easy if you take the right steps.
Decide whether you want to insure your laptop inside the home, outside the home or both.
If you only need to protect it inside the home and you already have contents insurance, there's a good chance it's already covered. If you don't have contents insurance or you want it covered outside the home, you'll need additional cover.
Shop around.
You never know how much prices can fluctuate from one insurer to the next. Ring around to a few home and contents insurers and some speciality laptop insurers for a few quotes. If you already have contents insurance, ask your insurer how much it would cost to add portable contents insurance to your policy.
See if you need specified portable contents cover.
If your insurer considers laptops to be high-risk items or if it's worth a certain amount, you'll have to list it separately on your policy. Give the insurer all the information it needs including make, model, value and proof of purchase.
Laptop insurance exclusions and limitations
Insuring your laptop is a straightforward process, but there are a few traps you'll want to avoid. Here's what to look out for when getting cover:
Check the benefit limits on individual items. Even if you have $5,000 worth of contents cover, it might not be enough to cover your $2,000 laptop. For example, you might be limited to $1,000 per item up to that $5,000 limit. If $1,000 won't be enough, you'll have to list your laptop separately and ask for a customised benefit limit.
Read the exclusions. There will be some things your insurance won't cover. For example, it's common for insurers to exclude general wear and tear and even damage caused by electrical and mechanical faults. Read the product disclosure statement (PDS) to find out what is not covered.
Cover for lost items due to neglect. Most policies will cover your laptop if you lose or misplace it, but many policies will require you to explain how you lost the item. Some will not cover you for lost items if you are deemed neglectful. If cover for a lost or misplaced laptop is important to you, ask your insurer to clarify situations where you will be covered and situations where you won't.
Cover for work laptops. Many insurers exclude "tools of trade" (stuff you use for work) under a personal contents insurance policy. However, home office equipment like laptops are commonly allowed in spite of this exclusion. Make sure to ask your insurer for clarification if insurance documents are unclear about how they treat work laptops.
Choose your own repairer. If it's important to you that you choose your own repairer, look for an insurer that specifies you can choose your own. Many insurers don't give you this option.
You pay the same as buying directly from the home insurer. Better still, we regularly run exclusive deals that you won't find on any other site – plus, our tables make it easy to compare policies.
Unlike other comparison sites, we're not owned by an insurer. That means our opinions are our own and we work with lots of home insurance brands, making it easier for you to find a good deal.
We're here to help
Since 2014, we've helped 150,000+ people find home insurance by explaining your cover options simply and clearly. We'll never ask for your number or email. We're here to help you make a decision.
Frequently asked questions about laptop insurance
It's not mandatory but laptops are expensive to fix and replace so it's not a bad idea. Having laptop insurance means you won't end up having to pay for a whole new laptop if someone steals it or you knock your coffee all over the keys.
Yes. Most contents insurers will cover your laptop while it's in the home and they'll usually offer portable contents insurance as an optional upgrade. This makes it easy to get laptop insurance if you already have contents cover in place. However, you're not required to go through your existing insurance company for your portable laptop cover. Feel free to purchase your portable laptop cover through a different home and contents insurer or a speciality insurer.
If you're constantly on the go, you'll want to find a laptop policy that works with your travel schedule. If you're travelling within Australia or New Zealand, most policies will cover you no matter how long you're away from home.
If you're going anywhere else, most policies will only cover you for about 14 to 90 days, which is perfect for small- and medium-length trips. Here's a table that shows how much overseas laptop cover you'll get from insurance brands in Australia.
Brand
Overseas cover duration
Westpac
90 days
Butter
90 days
Virgin Money
30 days
Commbank
30 days
Covertec
28 days with option to extend
Commbank
30 days
If you'll be gone longer than that, you should really consider travel insurance. Not only will it protect you from potentially devastating medical bills, but it will also protect that laptop for longer than a contents insurance policy will.
Even if your laptop insurance already covers your laptop, you should still consider travel insurance for the other benefits, especially the medical cover.
Gary Ross Hunter is an editor at Finder, specialising in insurance. He’s been writing about life, travel, home, car, pet and health insurance for over 6 years and regularly appears as an insurance expert in publications including The Sydney Morning Herald, The Guardian and news.com.au. Gary holds a Kaplan Tier 2 General Advice General Insurance certification which meets the requirements of ASIC Regulatory Guide 146 (RG146).
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