Homeowner's computer policy endorsement

This isn't an "accessory" in the usual sense, but I didn't know where to post it.

I wanted to remind everyone who owns a notebook PC that they may have really good insurance available to protect their notebook against theft, accidental breakage, etc. for very little money. I called a few days ago, and learned that I could add a "Personal Computers" endorsement to my homeowner's insurance policy for less than $10/year. The deductible is less than half the cost of a new machine, and covers all sorts of losses occurring off-premises (which was my main concern!). A similar endorsement is well worth investigating if you have any kind of homeowner's or renter's insurance policy.

I already had a 2-year manufacturer's warranty to protect against hardware dying unexpectedly. Now I have coverage for just about everything else. Feels pretty good, and I'm glad I looked into it.

 

The only problem is if you ever actually have to file a claim. Not only will you be stuck paying your deductible, but you can be sure they will jack up your renewal rate for years to come.

 

Yup. It'll end up costing you a lot more than the price of a laptop... and I've seen home owners get dropped for daring to file one claim. They're your best friend in the world until THEY have to pay.

 

I wouldn't put my laptop under my homeowner's policy for that reason. You can buy a separate one from this company, choose your deductible, as well as length of coverage.

Get iPhone Insurance and laptop insurance with a Worth Ave Group Insurance Policy

 

You guys must be with the wrong company. The same insurer I'm referring to just shelled out thousands to fix a friend's basement, after it flooded due to a burst pipe. They didn't "drop" him or "jack up his rates." I'm sure his rates went up a little - that's sort of how insurance works - but nowhere near the cost of repairing the damage.

I have auto insurance with the same company. Insurance companies do strange things, but I'd be surprised if they wanted to lose all of my business over a measly $700 laptop.

It's possible this Ave group is worth a look. Depends on their history of actually paying out, which is not something I know the way I do my current insurer. I haven't paid the whopping $10 premium yet, so there's certainly time to change my mind.

 

Right, so my insurance company is basically engaged in fraud, selling an endorsement which they have no intention of standing behind. Thanks for the tip.

Also was neat to learn that Allstate has a measly $133 in assets. I guess they paid out a lot of claims recently huh?

I'm clearly wasting my time trying to convince you people that not all insurance companies are out to overtly screw over policyholders. I'll only say it one more time: you are doing business with the wrong company. I heard back from my buddy, and they "jacked up" his policy premium by $100/year after he got paid around $20,000 for his flooded basement (which took a few weeks, they didn't try to "drop" him or refuse to pay). Oh, they'll get their money back all right - 200 years from now, or longer if you figure in inflation.

Given all that, I can't see them trying to screw me over a $400 payout on a laptop policy.

Check your policy, and check your assumptions. You're dead wrong in this case.

 

Yes, you are wasting your time so I'll waste a little more of mine. Look up CLUE report.


As far as the computer insurance goes... if it's an entirely separate policy from your Homeowners insurance it MIGHT be worth looking into from the same company for a possible reduced rate, but if it's attached as part of the policy the smart move would be to avoid it altogether.


Fin

 

It is typically 10,000% safe to ignore post #1 from a user who links offsite. It's forum spam.

 

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I can see this as nice thing as a "what if"... I could see myself needing to use the policy in a special case situation. Don't think I would rely on it but if I were strapped for cash and need a $2500 replacement, atleast for a few dollars a year, I can 'hope' that it works. If all else fails...

 

They have an interest in collecting premiums from you, and they will indeed pay it. They will almost certainly up your rates and they may indeed drop you entirely, although it's not likely to happen over a $1k payout.