How to Insure Computer Equipment

Computer equipment may be some of the most expensive personal property a person can own. As computers and related accessories become smaller and more portable, it is necessary to insure them not only as part of the contents of your home, but wherever you are using the equipment. There are several options for how to insure these items.

Instructions

Difficulty: Easy

Things You’ll Need:

• Computer equipment
• Cost of insurance premium
• Proofs of purchase

Insure Your Home or Dorm Computer Equipment

1. Keep receipts from your computer purchase in a safe place where they will not be lost. In the event of an insurance claim, you may be asked to produce them, stating how much you paid for your computer.
2. Have adequate personal property coverage on your renter's or homeowner's insurace policy so that your computer equipment can be scheduled for coverage. If the limit is too low for you to insure your computer, increase the coverage.
3. Purchase a computer insurance policy through your college or university if you are a student using the equipment in your dorm room. Many schools offer insurance that will cover a variety of computer accessories, including servers and printers.

Insure Your Portable Computer Equipment

4. Check with your homeowner's policy to see whether it covers personal property, such as a laptop computer, that is not actually in your home when damage or loss occurs.
5. Select an insurance plan with an insurer who specializes in covering portable electronic equipment. Companies like this routinely insure PDAs, notebook computers and cell phones.
6. Calculate how much coverage you need for your laptop computer or other portable equipment. This information can usually be found on insurance websites and rates are relatively inexpensive.
7. Pay your insurance premium as directed. Several companies insuring portable items ask you to prepay for a specified term in order to receive instant coverage, starting as soon as the payment is processed.

Tips & Warnings

• Understand the specific terms of your insurance plan before signing up for it. Some companies, for example, will pay cash when you file a claim, and you can then replace your computer and related equipment. Other insurers will only repair or replace the items and will not cut you a check.
• Never leave a laptop or other computer equipment in plain view unattended in your car. Not only is this tempting for thieves, but most insurance policies will not pay for your loss if your computer is stolen this way.