Theft Cover For 3 Yr Old Laptop For Trip To EU

zinnia-824

Hi

I am going to France for a week and I'll be taking my laptop with me. It's a little over 3 years old and it cost me just over £900 when I bought it as new.

I live with family so I don't have a home insurance policy, nor can I put it on theirs. I've got travel insurance but it only covers me for £250 after excess.

Where do you recommend I go, to make sure it's covered for theft? Is there a reliable insurance service out there you'd recommend that will insure old items such as my laptop?

Any recommendations would be much appreciated!

dacouch

If you take out a travel policy they normally settle claims after taking "Wear and Tear" into account.

This could mean that if say you have a three year old lap top valued at £1000 when new, but it's lifetime is expected to be five years (Might be a bit optimistic on five year life for most lap tops). Thus an item with a five year life expectancy would depreciate by £200 each year. On this example you would receive £400 on a three year old lap top less any policy excess. This is assuming the single item limit is sufficient and five year life for a lap top judging by the ones I've owned is very optimistic.

A Home Policy or other policy that provides "New for Old" would the replace the item or pay the new price. However with technology and particularly lap tops the pace of change of technology means a lap top you paid £900 three years ago could often be replaced / cash settled with a new lap top of the same or better specification for probably about between £350 and £500 less any policy excess. So don't expect to receive a settlement of circa £900 for your lap top.

If you live with family, why can't you add it to their policy which would normally settle claims on a "New for Old" basis. The cost to add it permanently eg also in the UK would normally be circa £25 or may even already be covered.

zinnia-824

Hi

Thanks so much for replying!

Alas, I did ask but adding the laptop to home insurance isn't on the cards. So I'm looking elsewhere.

I totally understand that I'd get less than I paid due to depreciation if my laptop were stolen and I had to make a claim. I'm just looking at the travel insurance I have, and the max would be £250 - I'm guessing it would be worth more than that (£350 - 500 if I compare spec to spec, inc. depreciation).

So if the home policy option is out, and my travel only covers £250... what would be my next option?

Hoping you can help

chanz4

Don't bet on it, you can now buy better specs for £350 than you could 3 years ago

prowla

Is it any more likely to be stolen/damaged than in the UK?

zinnia-824

Hi guys

Chanza - I guess so but I've literally just been looking for a new laptop recently, and my 3 year old laptop meets the spec of the £400-£500 range now. So that's what I'm going by.

Either way, my insurance is only covering up to £250. So more coverage would be nice. :0(

Prowla - Thanks for posting. Well, I never take my laptop out. But this time I'm taking it on a trip so I just want to make sure I'm covered.

So I guess there isn't much else I can do?

All the best to all

dacouch

Why can't it be added to your parents Home Contents Insurance (Assuming they have some and you live with them)

zinnia-824

They said something like, it would increase the price they pay, so they'd rather I didn't. :0(

dacouch

It would increase it by about £20 a year, there may be a one off admin fee of circa £20.

You would benefit from "New for Old" cover and Home Insurers cover tends to be wider than Travel Insurers.

Should you make a claim it may increase their premium by about 20% for three years give or take.

Your lap top would then be covered anywhere in the UK and the world.

You need to take into account what their excess is and should you claim whether the increase in premium makes it worth claiming

zinnia-824

OK thanks Dacouch. I guess that's why they're not keen on it. It's a shame there isn't somewhere obvious where you can insure old laptops, aside home insurance. :0(

Thanks so much for your help,

All the best

SuperHan

http://www.money.co.uk/gadget-insurance/laptop-travel-insurance.htm

The age of your laptop shouldn't matter... I insured my 2 year old macbook to go to France for a year without any issue. I haven't looked in to any of the ones listed there and you may have to insure for a year instead of just the week, but any laptop insurance should cover your 3 year old laptop in the same way that it would if it was brand new.