Buying a personal computer is not a small investment. It is almost as good as buying a house or a car. So, it's not a bad idea to insure your computer and all of its parts, like software and peripherals. How much coverage you get for each accessory, though, depends on what each market has to offer. There are many things that could hurt your computer. For example, a virus attack, data corruption, a system crash, a broken peripheral, and many more. So, it's important to make sure you have the right insurance to protect your investment. There are some things you need to know about computer insurance.
Coverage through a homeowner's or renter's insurance policy
Most of the time, if you have a homeowner's or renter's policy, your computer and other items in your home are also covered. All of the threats and disasters listed in the policy can't hurt it. So, if someone steals or burns up your computer, you can get money for the damage. But your policy only covers your computer for the amount written in it.
Cost to replace and actual cash value.
Even though the replacement cost is 10% more expensive than the actual cash value, this is a very smart move because things lose value quickly. With a replacement cost policy, the amount you get back is the same as what your computer costs right now. With an actual cash value policy, you would get a much lower amount.
Laptops and portable computers are covered.
Under a homeowner's or renter's policy, a laptop or portable computer is considered a personal item when it is not at home. So, this policy also applies to them. But there is a limit on how much you can get for things that are stolen or broken away from home.
Computers are not only covered by homeowner's and renter's insurance. Several insurance companies also offer policies for individual computers. When you buy a computer insurance policy, you should keep the receipt for the policy, as well as those for the computer and all of its parts, in a safe place.
Computer insurance is important for students, business people, small business owners, schools, people who use their computers a lot at home, and a lot of other people who use computers for important tasks. Some things aren't covered by computer insurance, like maintenance costs, electrical or mechanical failure, normal wear and tear, fraud and dishonesty, loss caused by sonic bangs, and damage or loss caused by them. But they are well taken care of by the equipment's warranty or extended warranty.
