Laptop insurance

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.

Single item insurance
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

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Name	Product	Do they cover laptops?	Accidental Damage to Home or Belongings	Theft	Online Discount
Huddle Comprehensive Contents Insurance		Optional				Save up to 10% on your policy in the first year.	Get a quote View details	Compare	loading Fetching your data...
ANZ Contents Insurance			Optional			Get a quote View details	Compare	loading Fetching your data...
QBE Contents Insurance Green Company			Optional			Save 10% on your first years’ premium with QBE Contents only Insurance.	Get a quote View details	Compare	loading Fetching your data...

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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.

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.

• Learn about how we got these prices

  • • • • 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.

Laptop insurance for students

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 we 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.

Frequently asked questions about laptop insurance

• Do I need 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.

• Can I get laptop insurance if I already have contents insurance?

  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.

• Will my laptop insurance cover me while overseas?

  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 in 2019.

  Brand	Overseas cover duration
  Virgin Money	30 days
  Westpac	90 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.

Picture: GettyImages