My Shawn just got his new laptop and a little booklet came with it, offering insurance on it for $288.00 for two years. It covers breakage, liquid spills (I don't know if it covers theft), dropping it, etc.. He just had to buy McAfee for it, pay his tuition, and buy his books. Money is a little tight now for a while.

By the same token, because laptops (as opposed to PC's) are carried around and taken out of the house, I don't want him to lose his investment. Does anyone know if laptops are covered on the standard homeowners policy, or would it be a separate rider? I know I need to call my insurance company to get a definitive answer, but I didn't know if anyone knew, in general. I also have a $500.00 deductible on my homeowners policy, so maybe it wouldn't be of much use anyway. He paid $1,000.00 for the laptop, but by the time you factor in depreciation, etc, maybe it isn't worth it.

Anybody have any experience with this?

By Hol on Tuesday, August 22, 2006 - 02:55 am:

That's what I get for listening to a teenager. That $288.00 is for extended warranty, not insurance. He didn't know the difference. I just went by what he told me.

I looked for computer insurance on line, and most of what I found applies to the UK (Britain). I guess maybe it is covered on my homeowners. I'll have to call them to find out if there are any exclusions.

Does it matter that it is HIS computer and not mine?

By Ginny~moderator on Tuesday, August 22, 2006 - 06:10 am:

As to whether it matters if it is his or yours, you have to ask your agent if he is a member of your household. As for depreciation, if you don't have "replacement value" insurance, you should switch to that immediately. I learned that lesson the hard way after a burglary many years ago. Some insurers don't offer "replacement value" in some areas, some don't offer it at all, and you should check. That depreciation is a killer. And you should ask how much coverage you have for electronics, which would probably include your home computer, TV, DVD player, etc. The short answer is, you have to talk to your agent and read your policy.

As for the extended warranty, Consumer Reports says check the regular warranty. If it is for at least 6 months or a year, the extended warranty isn't worth the money and is pretty much pure profit to the vendor.

By Ginny~moderator on Tuesday, August 22, 2006 - 06:12 am:

Shaw should immediately set up security on his laptop, including passwords. And he should get in the habit of backing up, especially when he is working on a lengthy paper or project. As for theft protection, the best protection is Shawn being very, very careful about where he puts his computer down and trying to not let it out of his sight.

By Karen~admin on Tuesday, August 22, 2006 - 07:02 am:

This type of question came up after hurricane Katrina last year and my State Farm agent told me that if it was in my home on a permanent basis - as in, an item that belonged to a child living at home - it was covered. But Ginny is so so so right about replacement value.

By Hol on Tuesday, August 22, 2006 - 11:19 am:

I DO have replacement value. I guess I've only thought about it in terms of appliances, furniture and the like.

Thanks Ginny and Karen. I WILL call my insurance carrier today.