Contents insurance - advice about valuing my laptop

Riddlix

Hi. I'm trying to sort out some contents insurance and am struggling to decide what to insure my laptop for. It cost me £1100 but that was way back in 2005, with the way laptops depreciate I'd pick up a similar one for about £400 these days. I don't know whether I should insure it for the full £1100 because that way it matches up with my receipts but I'd be worried the insurers would laugh in my face if I tried to claim for one that costs that much. Or should I insure it for £400 and that way if something goes wrong it's only insured for it's actual worth?

Apart from student contents insurance this is the first time I've properly tried to get contents insurance and I'm finding it all a bit confusing. I've heard that insurers tend to do like-for-like in which case it would be the specs of my laptop that matter?

Please help

geri1965_2

If it's only £400 or so to replace you won't need to specify it, I wouldn't have thought. Insurers will pay the replacement cost, so the original purchase price is irrelevant.

dacouch

A contents policy normally covers items on a new for old basis normally excluding clothing and linen which wear and tear are taken into account.

You would normally cover items for the amount you paid for them or the replacement cost. With electrical items especially computers the technology increases very quickly but prices reduce. If your lap top was the subject of a claim the Insurers would arrange a replacement with am current equvilalent probably costing between £400 and £650 so it would be sensible to cover the lap top for say £650 to ensure you are over insured rather than under insured.

If you want your lap top covered away from the home make sure it is either specified for cover away or automatically covered under blanket cover away from the home.

It is important to remember Insurers will normally not cover the theft of a lap top from a car unless it is locked in a secure boot or the glove compartment