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Inside this Article
Computer
Insurance
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When
buying a computer it is normal practice to be
offered insurance at the point of sale to
protect your new purchase.
It is now well
known that personal computer retailers make a
considerable additional profit from customers who
believe they are being offered a cheap price.
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On average electrical
retailers are known to charge their customers three to
four times more than necessary.
Why
Buy Computer Insurance?
Laptops and desktop
computers are becoming an increasingly important
commodity. For the opportunist thief, your computer is
as good as ready money and it is one of the first
things to go. This is all too common in business
environments, public sector buildings, and now
households as well. If you are a consultant who
travels with a laptop to business meetings, there is a
high risk of your laptop being stolen. Currently,
70,000 computers are stolen each year in the UK, and
more than 100,000 are accidentally damaged.
Traditionally, house
contents insurance would cover some additional items
up to an upper value limit, the items being specified
by the owner of the policy. In these circumstances if
you have to make a claim, you may be penalised in a
number of ways.
- Many insurance
companies' upper limits are not very high and
would not cover the cost of a new computer.
Unfortunately computers depreciate quickly and a
computer that cost £2,000 when new, might not be
worth more than £500 after only a year. Your
contents policy would only pay the present value
of the computer.
- If you make a claim
on your contents insurance, your total renewal
premium will be significantly higher. This is
because the premium is based on the entire
contents of your house and not just the item you
claimed for.
- Many house contents
policies will not provide cover if you remove the
computer from your house or the office. If you use
a laptop and travel to business meetings you are
taking an unnecessary risk.
Key
Features of Computer Insurance:
- 'All Risks' cover
worldwide.
- No excess.
- Rapid claims
response, with authorisation guaranteed in
ordinary circumstances, within 24 hours or less.
- No additional
security arrangements required.
- Simple premium
calculation based on the value of your equipment.
- All hardware
including printers and scanners also covered.
- Minimal exclusions.
What
is not Covered by Computer Insurance?
As with all technical
equipment, computer insurance does not provide
cover for items such as:
- Maintenance costs.
- Electrical or
mechanical failure.
- Wear and tear.
- Fraud and
dishonesty.
- Consequential loss.
Loss or damage caused by sonic bangs is not
covered but may be covered under any
warranty/extended warranty you may have.
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