Where to get laptop insurance in India


This post lists the companies which provide insurance coverage for laptops. See what coverage they offer, the premium you are required to pay and other terms and conditions.

Laptops are not cheap expenditures and for some people, especially bloggers like us this needs some savings to do. However, we also are a little careless with our lifeline to online world after a few weeks of its usage. That is when the unwanted things might happen like the innocent spill of glass of water or slipping of your beautiful laptop out of your hand. Typically, manufacturers will provide you with one year warranty but this is mostly limited to manufacturing defects that might arise within 1 year of its usage. It means that if your laptop is physically damaged or stolen then you don't have any security to back upon and you have to loosen your pocket to get the damage repaired or worse, buy a new laptop.

As more people are going the digital route and buying multiple computers for home as well as business, a new niche of insurance is greeting the market- Laptop insurance. Market now has a number of insurers who are willing to insure your laptops against physical damage, defects or theft. However, all such insurance schemes have some limitations which you should first go through carefully before deciding which one to purchase.

Onsitego.com


This is probably the best insurance company for your laptop. It extends your manufacturer warranty for 2 years after the completion of the manufacturer warranty. You can in real time check out the amount you need to pay to get your laptop insured which will be based on the price of your laptop. Here are the features of insurance from Onsite secure that makes me love it:
  • Pick & Drop - Onsitego picks up your laptop from your home within 5 days, tries to get it repaired and returns the laptop or the money back to you as soon as it is repaired. This way you are also ensured about standardized repair for your device.
  • 100% cashless - By getting insurance from them, you are sort of creating a backup of your purchase amount including taxes. It means Onsite Secure will pay for repairs or cash settlement up the actual purchase price of the laptop including taxes. Only once the repair costs reach this amount is the insurance considered fulfilled and they take no further responsibility. In case the laptop is not repairable then you get cash compensation factoring in the price depreciation with time which you can see on their official website.
  • Genuine repair parts and service - You are assured of repairs only by the official service center so that you get the best servicing for your laptop.
  • 2 years insurance - You get full 2 years worth of cover up to the purchase cost of your laptop which seems reasonable enough.

Of course here too there are reasonable limitations that are enforced to prevent misuse of this insurance plan. This is primarily that you do not make fraudulent claims in which case you lose all your insurance premium money and the policy gets void. Other is that you take every possible reasonable care of your laptop according to the manufacturer's instructions.

Please check the official website for official details if you are planning to purchase either of the insurance plans as there might be even more Terms & Conditions and/or there might be some changes in the T&Cs.

ICICI Lombard


ICICI, a reputed insurer in market provides you insurance for your laptop based on the market value of your laptop. Here are the highlights of this plan:
  • Basic plan covers only protection against theft, that too when owner has taken proper precautions to safeguard the laptop. For instance if you leave your laptop unattended in your car then you are not eligible for any claims.
  • Insurance premium will also depend on whether you want to insure it only within the territorial boundaries of our country or internationally.
  • The first 1% of the claim up to the value of Rs.5,000 will have to borne by the insurer.
  • The plan does not cover confiscation by government agencies and damage or loss in war or civil commotion.
  • You need to pay additional premium to insure your laptop against mechanical and electrical breakdowns too.

For full terms and conditions please visit the website or talk to their official representatives.

My personal take is that though this is a reputed insurer but for laptop insurance, ICICI might be a very costly and not so effective choice unless your laptop is like in the range of Rs.1,00,000 or more.

New India: All Risk Insurance


This also being from a reputed insurer is not a good choice for laptop insurance. These types of insurance, that is on goods or property have high premium associated with them. For laptops, the laptop will be insured to the extent of the intrinsic value of the product. Here too you don't get insurance against physical or electronic tear and wear. So without going into much details I would just say that this insurance is useful only if you want to protect your laptop against theft, accident, riot, strike or fire.

Verdict


Major insurance companies are not well equipped to handle insurance for laptops or other gadgets. It is better to look for other companies like the one I mentioned first in this article which specializes in these types of insurance and provides much more comfort and security with regards to your laptop safety and repair.

Read How to buy a good laptop insurance plan


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Comments

Guest Author: Sonam Sagar14 Jan 2016

For Macbook Insurance, I will surely go for Times Global Insurance. It has much better reputation and plans.

Author: Sah@1234512 May 2016 Member Level: Bronze   Points : 4

Good Article

Author: Sah@1234512 May 2016 Member Level: Bronze   Points : 4

A good laptop insurance plan should cover your device against every possible risk.GizmoHelp Nirvana provides you with complete protection and support plans for windows and mac devices. Nirvana covers your laptop against accidental physical damage, accidental liquid damage as well as from loss due to burglary.

Apart from laptop insurance, GizmoHelp Nirvana offers you additional value added services like cloud data backup, 24*7 remote tech support and Kaspersky antivirus software.

To know the full details of Nirvana’s plans, you can call them at +91 98762-98763 or visithttps://gizmohelp.com/nirvana/



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