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.
A contents or single item insurance policy can cover your laptop for loss or damage as a result of the following:
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.
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.
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.
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.
Finding the best laptop insurance in Australia can be easy if you take the right steps.
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.
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.
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.
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:
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