Whether you run a side gig from your personal laptop, use your laptop for gaming, or just pull it out for the occasional Netflix binge, you likely value this tech that costs hundreds — if not thousands — of dollars. However, don’t just assume that, because your personal laptop is valuable that your homeowners insurance will cover it if there’s damage, theft or a natural disaster. 

Depending on your homeowners insurance policy and coverage limits, you may need to purchase extra laptop insurance.

Are Laptops Covered by Home Insurance?

Yes! Standard homeowners insurance policies do cover laptops, as they’re considered personal property. However, a homeowners insurance policy isn’t going to cover your laptop for just any reason. A coverage limit will likely apply and, depending on your homeowners insurance policy, you may not get actual cash for your laptop in the event of a theft or damage. 

Homeowners insurance policies will typically cover personal property like laptops if…

• That personal property was stolen from within the home
• That personal property was damaged (the waters are muddy here, in terms of what an insurance provider might consider “damaged”)
• That personal property was impacted by a covered natural disaster

But do you have just more questions now, based on the above? Don’t worry. We know things still aren’t 100% clear. For example, what’s a covered natural disaster?

Depending on your individual homeowners insurance policy and where you live, covered natural disaster usually includes:

• Storms with high winds or hail
• Lightning
• Blizzards
• Wildfires

As you can see, there are a lot of potential natural disasters that might not be covered under your policy. What if there’s a hurricane? What if your basement, where your laptop usually sits, floods due to heavy rains? What if there’s an earthquake and your laptop falls off your desk, shattering? 

If you’re worried about any of these — or other damage that could incur that’s not listed above — you may want to purchase additional protection for your laptop.

What Happens When You File a Claim for Your Laptop?

But let’s say that your laptop is covered by your homeowners insurance and you’re eligible to file a claim. What happens then? 

Once you file a claim with your insurance provider, you’ll receive further instructions based on your particular policy. In many cases, you’ll be expected to get a quote on either the replacement cost or the repair costs. Based on that, you’ll then need to pay a deductible. The insurance company will pay for the rest of the cost, up until you reach your policy limit, after which you’ll need to pay for the rest.

But, things still aren’t that simple (homeowners insurance never is). 

If your laptop was the only thing impacted by the natural disaster, theft, etc. the cost after your deductible will likely be entirely covered by your policy, so long as the cost exceeds your deductible. But if your deductible is several thousand dollars and your laptop only costs $1,000, there’s no reason in involving your insurer and incurring the potentially higher rates that will come after you file a claim. The insurance won’t cover the laptop cost, so you might as well pay out of pocket. 

However, if other items in your home beyond just the laptop, or your home itself, are impacted, you’ll very likely easily exceed that deductible. Still, though, things aren’t simple. If there’s a lot of damage, you may find that you reach your policy limit pretty quickly and you, once again, need to foot the bill for more costs. Additionally, some homeowners insurance policies specifically place limits on how much they’ll cover for electronics. 

So, if you’re worried about paying for laptop damage that comes in under your homeowners insurance deductible, or if you’re worried about damage that will exceed an electronics cap, you may want to purchase separate coverage for your laptop. 

Can You Get Actual Cash Value for Your Laptop?

When you file a claim with your insurance provider for your laptop, you’ll receive either the replacement cost or the actual cash value, depending on your policy.

What does this mean?

Well, the replacement cost is the cost required to buy the exact same item, new. The actual cash value, on the other hand, is the cost required to buy the exact same item, but with depreciation factored in. 

In simple terms, with the former, your insurance provider would give you the money necessary to go out and buy a new version of your destroyed laptop. With the latter, they’d give you the money to go out and buy a used version of your destroyed laptop.

How Can You Protect Your Laptop if It’s Not Covered by Your Insurance Company?

But what if you aren’t actually eligible to file a claim? If a laptop is not covered by homeowners insurance, for whatever reason, you do have additional options.

Many insurance providers offer specific policies for electronics. These policies can usually be tacked on to your existing insurance for a minimal fee.

Does Renters Insurance Include Laptop Insurance Coverage?

Maybe you’re reading all of the above and thinking, “Yeah, yeah — good to know. But I’m still renting! Are laptops covered by home insurance and renters insurance?”

Yes! Just like the personal property section of your home insurance policy keeps your laptops covered, so does the personal property section of your renters insurance.

Laptop Coverage FAQs

Here are the basics of what you need to know. 

• Are laptops covered by home insurance?

Yes, while the amount of coverage will vary, and the situations under which laptops are covered vary, your home insurance policy will cover laptops to a degree.

• Are laptops covered by renters insurance?

Yes, like homeowners insurance, renters insurance protects personal property, including laptops.

• When are laptops covered by home insurance?

Laptops are covered by home insurance in the event of a natural disaster, theft or vandalism. Accidental breakage (aka, you accidentally broke the laptop yourself) is usually not covered. 

Your Laptop isn’t the Only Thing That Might Need Extra Coverage

If you’re worried about your homeowners insurance policy not covering your laptop and whatever comes its way, you might want to think about what other items in your home likewise might not be entirely covered by your policy — like your jewelry. 

BriteCo offers affordable jewelry insurance that can supplement your existing coverage, for comprehensive care no matter what happens. Purchasing your policy is quick, easy and can be done entirely online. 

Contact us today to learn more about our coverage, or use our convenient online tool to get a quote for your insurance plan now. 

Also Check:

What is Gaming Computer Insurance? | BriteCo Jewelry Insurance

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