Computer insurance provides coverage against damages caused to computers and their accessories. This insurance is commonly purchased by business owners who have offices full of computers. Computers are quite expensive. Anything like a power fluctuation or a malware can cause severe damage to the hardware and software of your machines.
Do I need to purchase computer insurance if I already have renter’s insurance?
The simple answer is: “yes”. You do need to purchase separate insurance which will cover the maintenance and repair costs of your machines. Your renter’s insurance only provides coverage in case of a theft or hardware damage occurred during a flood or vandalism. Which is great but your computer is more likely to suffer damages due to things like malware, hardware failure, and malfunction.
Secondly, your renter’s insurance policy might not be able to bear the total cost of the expenses due to the damage exceeds the coverage limits. You will be forced to pay for the replacement of the gadgets from your pocket. At the time of purchasing the renter’s insurance, you will have to consider all these things and pick a policy that provides sufficient coverage. This also involves paying a higher premium.
For instance, if a flood or a tornado destroyed each and everything in your house, you won’t be compensated for everything. So, an actual cash value coverage offers a fixed amount which you can use to rebuild your house.
Does a computer insurance policy provide cover while I travel abroad?
It doesn’t matter if you are in your home-office or sitting on a beach somewhere in the Bahamas with a computer on your lap. A computer insurance policy provides global coverage for laptops, tablets, and related accessories that you use for work. Moreover, there is also a greater chance of theft when you are on the road, traveling to places you have never been. Tourists get scammed all the time.
Conversely, a renter’s insurance only covers for damage occurred within your property; not outdoors. This is one of the biggest advantages of buying a separate computer insurance policy. Particularly, if you are someone who travels a lot.
Is computer insurance profitable for students?
Yes, it is profitable if you are someone who has a track record of losing or mishandling laptops. The latest computer insurance policies also cover for breakage resulting due to accidental damage, theft, and breakdown. Robbery is quite prevalent in dorm rooms, hostels and college libraries.
Students staying in dorm rooms know that there is zero secrecy and security. It’s impossible to protect your assets like computers, laptops, printer’s, etc from trouble makers who are waiting for you to take your eyes off of them. So, why not get your gadgets insured by paying a small fee and put your mind at ease.
With the burden of student loans on your shoulders, how are you going to cope with losing an expensive laptop or a tablet computer? Computer insurance does involve paying a small fee at the time of signing up but that also saves you needless worry.