The 5 Best Laptop Insurance of 2021

How to protect your expensive computer from loss or damage

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Laptop insurance provides coverage in the event of theft, loss, or damage to your laptop computer. While it can be sold as a type of gadget insurance, many standard homeowners insurance policies also provide some sort of coverage. Coverage includes laptops that are stolen or damaged under covered perils such as fire, water, or some other type of natural disaster. 

Laptops are expensive and it can be worth it to insure them, especially since they’re such an integral part of our daily lives. For instance, if you’re self-employed and rely on your laptop to perform work, your productivity would come to a complete standstill if something happened to your laptop. 

When choosing a laptop insurance plan, make sure you pay attention to what it actually covers, policy limits, and any exclusions to coverage. To help you in making your decision, we picked the best five plans for your laptop based on cost, coverage, where you use your laptop, and more.

Best Laptop Insurance of 2021

The 5 Best Laptop Insurance of 2021
The 5 Best Laptop Insurance of 2021

Best Overall : Worth Ave. Group

Worth Ave. Group

 Worth Ave. Group

Worth Ave. Group earns our top spot because it offers the widest range of coverage including accidental damage, theft, and extended warranty coverage. It also has a combination of a high customer satisfaction history and discounts through partner retailers.

Pros
  • Unlimited claims

  • Coverage available for educational laptops

  • Insurance partners may provide premium discount (like Progressive)

Cons
  • Claims paid out at replacement value

  • Doesn’t cover theft from unattended vehicles

  • Premiums higher compared to others on the list

Worth Ave. Group offers laptop insurance for adults, college students, and those in a K12 setting. It stood out as the best overall because it covers the widest range of perils we’ve seen and has a longstanding history of high customer satisfaction. The insurer only offers a standard plan for their laptop insurance coverage, but it covers a wide range of perils such as theft, vandalism, power surge caused by lighting, cracked screens, natural disasters, and spills. 

Policies are available nationwide and for all laptop models, including new and used ones. You can get a quote via their online application form—you’ll need to indicate your state of residence, user type, coverage amount, and policy term. You can also call customer service at 1-800-620-2885 or ask questions via their live chat option before taking out a policy. 

Policy premiums will vary depending on your state of residence, policy length, and the coverage amount. For example, a Louisiana resident looking to get $500 worth of coverage for a one-year term can expect to pay $48 if paid annually. Compare this to a Florida resident who will pay $37 for the same coverage. However, all quotes you get online directly through their website will be subject to a $100 deductible. 

Worth Ave. Group allows policyholders to submit a claim online by logging into their policy page, heading to the claims center page, and entering required details before submission. Another option is to print out the claims form and mail or fax the completed document.

Best for Multiple Policies : Asurion

Asurion

 Asurion

Asurion stands out by offering a policy that either has individual warranty coverage or can be bundled with other electronics in your home for a low monthly fee.

Pros
  • Receive email updates about claims process

  • 24/7 technical support

  • Most laptop repairs completed within two days

Cons
  • Not all laptop brands covered

  • Only one coverage option available

  • Enforces a max number of claims per 12-month period

Asurion took our top spot for multiple policies because of the ability to bundle other types of electronics for one monthly fee (also called their Asurion Home+ plan). Plus, you’re able to purchase policies at Amazon at the same time when purchasing your new laptop. Launched in 1994, Asurion has offices around the world and is highly rated in feedback from their customers. 

Although coverage doesn’t include loss or theft, its policy includes perils such as power failure, cracked screens, spills, and damages due to normal wear and tear. Policies are dished out nationwide, and you can purchase a policy through Amazon or via their website if you choose to go with the Asurion Home+ plan—there’s no need to get quotes. 

The Asurion Home+ plan costs a flat $24.99 per month, and coverage starts 30 days after you enroll. Individual laptop insurance plans vary, starting at an average of $28 per year—coverage includes drops and spills, cracked screens, and hardware malfunction. To file a claim, policyholders go online through Asurion’s website or call 1-866-551-5924.

Best for Low Premiums : Securranty

Securranty

 Securranty

Securranty offers the best prices for individual policies we’ve seen. Plus, policyholders receive a discount when purchasing longer terms, and those who purchase two or more policies receive a 10% discount.

Pros
  • Provides a discount for multiple policies

  • Coverage for new and refurbished laptops

  • All models covered

Cons
  • Online purchase form tends to be clunky

  • Deductibles are higher for used and rebuilt laptops

  • Individual policies won’t allow choice in deductibles

We chose Securranty as best for low premiums based on the fact that it offers multiple types of discounts, such as discounts when purchasing multiple policies. Headquartered in Houston, Texas, the insurer was established in 2011 and is a licensed insurance agency offering extended warranties and insurance plans. 

The company offers insurance for both adults and those in a K12 setting and its plan tiers include one for accidental damage and another for coverage against loss, standard perils (such as fire), and theft. Policies are available throughout the U.S. and receiving a quote is done by filling out information on its online form—fair warning, it’s not that user-friendly—or by calling 1-832-304-2015. 

Policy prices differ depending on the type of laptop and length of policy—the price doesn’t depend on the value of your laptop, which is rare. As an example, a one-year accidental damage policy for a new laptop costs $29.95 per year, whereas purchasing a five-year plan for the same coverage costs $19.95 per year. 

Policyholders can file a claim 24/7 online by logging into their account or by calling customer service.

Best for New Devices : SquareTrade

SquareTrade

SquareTrade

SquareTrade is best for new devices due to the fact that it covers spills and liquid damage from the first day of coverage, one of the most common accidents for new laptops.

Pros
  • Some claims may be approved instantly

  • Choose from multiple deductible options

  • Coverage starts on day of plan purchase

Cons
  • Policy for new laptops only covers those purchased within the past 30 days

  • No option to choose in-person repair from approved technicians

  • Standard plan doesn’t cover theft

SquareTrade offers some of the best overall protection while providing customers an easy claims process online and add-ons to their standard plan. Launched in 1999, this insurer partners with larger companies such as Allstate to provide laptop insurance to major retailers such as Costco. 

Their plans include:

  • Standard protection: This plan kicks in when your manufacturer’s warranty expires and covers against mechanical failures such as power supply burnout and screen failure.
  • Accident protection: This plan provides coverage beginning on the day you purchase your plan and includes accidents like drops and spills in addition to what's covered in the standard plan. 

The insurer offers coverage on all types of new laptops, as long as you purchase and register your device within 30 days of purchase, making it the top choice for those with new laptops. The online purchasing process is straightforward: Choose the laptop’s purchase price, the desired deductible, and length of coverage. Once you enter your personal and payment details, you can register your plan (this is optional) after three days. Doing so can save you time should you ever need to file a claim. 

Policies are available nationwide and start at $89.99 for a two-year policy with a $75 deductible and go as high as a three-year policy with no deductible. To file a claim, head over to their claims page and provide the required information, such as details included in your purchase receipt and your laptop's serial number. 

Keep in mind that one major downside to SquareTrade is that it won’t protect your laptop against loss or theft.

Best for Older Devices : Upsie

Upsie

Upsie

We like Upsie because it’s one of the few companies that offers protection for used, open box, or refurbished laptops. It also offers a low deductible compared to other providers that cover used laptops.

Pros
  • Low deductible

  • Unlimited number of claims

  • Choose from in-person repair or ship to Upsie’s certified repair center

Cons
  • 31-day waiting period

  • Plans only in effect after manufacturer’s warranty expires

Upsie, a relatively new company that launched in 2018, is best for older devices because it is one of the very few companies offering coverage for used and open box items. As long as your laptop was purchased within 60 days and has a 30-day sellers warranty, you can qualify for coverage. Most laptop brands are covered.

Getting a quote for a policy is simple. On their online application form, you'll need to provide details such as the type of device, brand, whether it's new or used, the purchase price, and length of plan. You can choose from a two- or three-year plan and all plans come with a $25 deductible. Coverage includes screen cracks, accidental damage like spills, and power surge damage. Policies are available nationwide and prices start from $41.37 for a two-year policy and go as high as $321.01 for a three-year policy depending on your laptop’s purchase price. 

You can only file a claim by calling customer service 24/7 at 1-877-844-7745.

Bottom Line

When choosing laptop insurance, it’s important to determine the type of coverage you want. While all of the above companies provide coverage against perils like mechanical breakdown, spills, and cracked screens, not all cover against theft and loss. If you require that type of coverage, remember that policy premiums may be higher. Overall, we recommend Worth Ave. Group for its wide range of coverage, but for a more budget-friendly option, Securranty is also a notable contender. 

Compare Providers

Best Laptop Insurance
Company Why We Picked It Cost
Worth Ave. Group Offers a wide range of coverage and a long history of high customer satisfaction Starting at $37 per year
Asurion Can bundle policy with other electronics As low as $28 per year
Securranty Offers discount when purchasing longer terms and a 10% discount for multiple policies Starts at $19.95 per year
SquareTrade Immediate coverage against spills Starts at $39.99 per year
Upsie Low deductible for used laptops Starting at $41.37 per year

FAQs

What Is Laptop Insurance?

Laptop insurance covers common perils that extend beyond standard homeowners insurance and manufacturers’ warranties. These include power surges, spills, theft, accidents, vandalism, and damage. The insurance company will reimburse you for financial losses such as replacing your stolen laptop or repairing a cracked screen up to policy limits. 

Do I Need Laptop Insurance?

That depends on whether you can afford to replace or repair your laptop. These devices are expensive, and the costs to replace them can be significant. Plus, this type of insurance provides coverage in situations where your manufacturer’s warranty and homeowners insurance won’t. 

For instance, manufacturers’ warranties typically provide coverage for up to a year and may not include coverage for damage from power surges or accidents. Those who want coverage beyond those 12 months or for perils not included with their manufacturer’s warranty or home insurance policy will find it beneficial to take out a laptop insurance policy. If you travel often or use your laptop in a public location, it may be a good idea to purchase a policy that covers against theft.

Does Homeowners Insurance Protect My Laptop?

Homeowners insurance can protect your laptop against some covered perils, including fire, theft, and covered natural disasters. This falls under the personal property section of your policy. 

However, there are some cases where homeowners insurance may not provide coverage, such as damage from power surges. In most cases, homeowners insurance will pay for damage caused by a power surge except for ones due to lightning. They also won’t provide coverage if you accidentally dropped it or if it stops working unexpectedly. 

Under most standard homeowners insurance plans, electronics such as laptops are covered up to $1,500. You’ll also need to pay a deductible as part of the replacement cost. Depending on your policy, the deductible may be more than the value of the computer. This is especially so if you’re on the hook for around 1% of your home’s value, which is typical of many policies.

There is what’s called extra or additional coverage for your valuables, known as scheduled personal property. With this type of policy, you may be able to get full coverage of your laptop, replacement cost coverage, and no deductible. 

Even if your policy covers your laptop, your insurance company may only pay for its current value if you have replacement cost coverage vs. actual cash value coverage. Replacement cost coverage provides replacement value in today's dollars, while actual cash value takes age and depreciation into account to give you what the company thinks your actual machine would be worth. If your laptop is a few years old, the amount you receive may not be enough to cover repairs or a full replacement, so be sure you understand how your homeowners policy will pay out as you decide if additional laptop insurance is right for you.

What Does Laptop Insurance Cost?

Your laptop insurance premium will depend on the type of coverage, deductible, and protection you choose. Most individual policies range from $28 to a few hundred a year. For instance, policyholders who choose longer coverage terms or those who opt for higher deductible amounts tend to have lower premiums per year. Other factors that may also affect premium prices include the value or purchase price of your laptop.

How We Chose the Best Laptop Insurance

We researched 10 companies offering laptop insurance policies and evaluated each insurer based on factors such as coverage options, price, whether it covers both new and used laptops, and number of claim submissions. First, we considered coverage options to find policies that have the widest range of protection. Then we looked at each plan’s pricing and whether there are any discounts for multiple policies and longer terms. We also looked at whether each plan allows unlimited claim submissions and the time it takes to process claims.

Article Sources

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  1. Insurance Information Institute. "Understanding your insurance deductibles." Accessed Jan. 7, 2021.