Laptop insurance – Facts & benefits

Today’s businesses and companies mostly if not entirely run on technology. Moreover, technology also helps make your daily life and tasks easier. Digitalization has become integrated to everyday life so prominently that computers and other smart devices have become a necessity. And the laptop is considered as the second most common portable electronic, a handy and transportable version of a personal computer.

According to the International Data Corporation, or IDC, India’s PC market has experienced healthy growth of 49.2%, shipping almost 3.4 million computer units in 2019. It shows the high demand of workstations, like a laptop.

However, these devices are vulnerable to accidental damage, thanks to the delicate electronic systems incorporated. Even technical issues and operator-induced damage can have a severe effect, rendering these devices useless.

That entails insurance plans like laptop insurance policies to cover any unpredictable financial loss witnessed during repairing such damages. Moreover, an insured individual can also avail insurance policies for accessories like chargers as well, which is necessary to keep the device running.

How does a laptop insurance plan work?

These insurance policies are dedicated to cover the insured individual against any monetary loss, happened to your laptop due to an accident or other unforeseen events.

Features and benefits you need to look for

Here is the list of features and benefits you should look for while opting for an insurance policy cover for a laptop.

  1. High coverage

Always try to avail laptop insurance plan that offers substantial coverage. High coverage can help you mitigate financial loss more efficiently.

  1. Breakdown cover

As an electronic device, a laptop can break down anytime while working. Search for a laptop protection plan that covers the malfunctioning of the device due to any electrical or mechanical fault. You can also opt for a small gadget insurance plan to protect other expensive electrical gadgets against damages.

  1. Fire and perils cover

If the insurance policy financially protects your insured laptop from losses and damages incurred in the break out of a fire, explosion, implosion or lightning, it can prove beneficial to avail. Moreover, you also need to check if the insurance plan covers loss or damage in the event of some specific hazards like cyclones, riots, earthquakes, landslides, etc.

You can also purchase a Laptop Charger Insurance policy offered by Bajaj Finserv under their Pocket Insurance & Subscriptions and extend the financial coverage to your laptop charger.

  1. Burglary and theft cover

An ideal laptop insurance cover protects you financially if your laptop gets damaged or lost on account of attempted or actual robbery or theft while it is present inside the insured premises. Therefore, look for burglary and theft cover in your insurance plan options.

  1. Accidental damage cover

Accidental damage in laptop insurances in India provides protection if any financial expenses incur while repairing accidental damage of your laptop while it is in your possession. This is also an important cover which can offer you replacement or repair expenses according to the invoice value or up to the limit of the maximum sum insured. You can consider a mobile charger insurance plan to protect your mobile charger from similar accidental damages.

  • Liquid damage protection

You also need to look for financial protection if any damage happens to your laptop due to liquid spillage. The additional loss incurred due to liquid damage can be easily mitigated with additional financial support.

  • Claim process

Lastly, you should avail an insurance policy that provides an easy claim process. You should also go for an insurance aggregator with a high claim settlement ratio.

In conclusion, you should always consider all the above-said features before buying any laptop insurance plan. It will help you reap maximum benefit against minimum premium payment.

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