Take a minute to count the number of cellphones, TVs, computers, gaming systems and music players in your home. Do you own more than 5, 15 or even 25 devices? What are they all worth? Your homeowners or renters insurance policy might not cover your electronics, so learn how to insure all your valuable devices.
Check Your Homeowners or Renters Insurance Policy
Under the Contents section of your policy, take a look at what's covered. If your electronics aren't specifically mentioned, Protecting Electronics: Damage, Theft and Insurance Coverage can help you understand common gaps and options.
If you need clarification about accidental damage, drops, liquid immersion, cracked screens, vandalism, theft or power surges, ask your agent for details about available coverage.
Think About Actual Versus Replacement Value
You may have purchased your computer a few years ago for $300, but replacing it with a comparable model today may cost $700. Be sure your insurance policy covers the cost of replacing all your electronic devices.
Even small additional premiums can be worthwhile; for information about protecting devices in a business or retail setting, see Protecting Electronics, Jewelry, and Selling Online: Insurance, Lightning, Theft & Storage.
Consider the Deductible
Most policies include a deductible that you must pay if you file a claim. Include that deductible in your calculations as you decide how much coverage you need for your devices.
Keep Thorough Records
Insurance companies typically need proof before they pay a claim, so carefully store receipts when you purchase electronics and accessories. Record serial numbers and take photos of all insured devices.
Keep copies of these records in a fireproof safe and at a friend's house or in a safe deposit box, and update the records when you buy, sell or upgrade electronics.
Talk to your insurance agent today to add the necessary electronics coverage you need, then enjoy your favorite tunes and watch the movies you like with more peace of mind.
Frequently Asked Questions
Are cellphones and laptops usually covered by homeowners or renters insurance?
They may be covered under personal property limits, but many policies exclude certain types of accidental damage or have sublimits, so check your policy details.
Should I list expensive electronics separately on my policy?
Yes—scheduling high-value items or adding a rider can increase coverage limits and help with replacement cost after a loss.
What documentation will an insurer want if I file a claim?
Insurers typically want receipts, serial numbers, photos and a description of how the damage or loss occurred.
Does coverage apply if I damage a device outside my home?
Some policies extend coverage off-premises, but limits and terms vary, so confirm portability and exclusions with your insurer.