A cheap laptop insurance policy may seem like a suitable proposition to save a bit of money – but you may need to make sure that it provides you with the cover you expect.
While there may be similarities in the way that different people use their laptops, there are also differences and these can mean that what would be a cheap and suitable laptop policy for someone else may not be suitable or cheap for you.
To take just one example – if you don’t take your laptop abroad then you may be able to buy a policy that provides cover for UK use only. If you do travel though, then while such a policy may very well be cheap laptop insurance, it will not provide you with the cover you need when you leave the country.
So what other features or conditions should you be looking out for in your cheap laptop insurance?
Damage to your laptop. Laptop insurance may typically provide cover for accidental damage, which may include damage as a result of liquid spills etc. You may find that damage which happens as a result of you tampering with the laptop or trying to fit accessories may be explicitly excluded.
Risk of theft. Your laptop may be a highly desirable object, which may make it a prime target for thieves. Insurance for your laptop may typically provide cover for theft but it may stipulate that unattended theft may only be covered if your laptop is stolen from a secure locked location. If you go off and leave it lying about only to find it gone on your return, you may typically find that your policy does not provide cover.
Reporting a theft. As with any insurance product, terms and conditions, exclusions and limitations will apply and you may wish to read these carefully to make sure you understand them. In the specific case of theft, you may find that you are required to report the incident to the police within 24 hours of it happening and to make sure that they give you a note of their crime number.
Breakdown. If your laptop breaks down while it is still in the warranty period then it is up to the manufacturer or retailer to resolve the problem. Insurance for your laptop may typically provide for breakdown cover outside of the manufacturer’s warranty period.
Replacements. Some policies, but by no means all, may be able to provide a guaranteed 48-hour replacement service for your laptop once your claim has been agreed.
Data storage. It may be possible to benefit from up to 3 GB of data storage made available as part of a laptop insurance package to store your key data, photos etc.
Not all cheap laptop insurance packages offer the same levels of cover. Looking at what the product actually offers as well as at the price may be a sensible approach.
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