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Smart technology is growing in popularity so play it safe by insuring phones, tablets and your laptop. Stipulate the cover you want for home and office desktop computers, what type of laptop insurance you would require, as well as your software and data recovery.

Here’s why you must insure your computer:

  • Laptops are often used outside your primary place of work or residence so it is best to specify them under “All Risks” in your policy.
  • This means that they will be covered irrespective of where the loss or damage occurs.
  • Insurance companies do not automatically cover laptop repairs or the loss of data on laptops.
  • Some companies provide cover for data recovery under “All Risks” but this is usually optional and must be requested and specified separately.
  • You will also need to decide on the amount that you would like to insure your device for.
  • Insuring your device for the correct amount is also important because it must cover replacing both the laptop and the software.
  • Additional software purchases need to be specified on the policy – so keep all the slips in order to prove what you paid for these.
  • When downloading software from the internet it is a good idea to request a proof of payment.
  • It is important to take note that insurance companies will not cover the loss of data if the loss is caused by faulty programming, viruses or data corruption.

If you have a business insurance policy that includes commercial insurance there are numerous insurance houses who’s policies that will include cover for computers and this will also include cover for those devices and the reinstallation of software. It will still be an optional extra and must be requested and specified separately. It is a good idea to check that the computer and software are insured for the right amount. Damage as a result of faulty programming, viruses or data corruption is excluded in these instances as well.

If you specify laptop insurance, it should be insured for its replacement value as the insurer will replace it with a new one or pay out the full replacement value in the event of a claim – send your broker or insurer the series number and proof of purchase or valuations as proof of the cost of the item and keep copies at all times.

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