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How Renters Insurance Covers Your Laptop or Mobile Device

Updated: March 2018

Your renters insurance policy may help pay to repair or replace electronics, including a laptop, smartphone, tablet or personal computer, if they are stolen or damaged by certain causes.

The personal property coverage in a renters insurance policy typically helps cover your personal belongings if they are damaged or destroyed by a covered risk, often referred to as a peril. Perils that are covered by renters insurance may vary, but they typically include fire, windstorms, lightning and certain types of water damage. Renters insurance may also cover theft of your belongings.

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How Much Coverage Do I Have for My Laptop?

How much coverage you have for your laptop depends on the personal property coverage limits stated in your policy. A limit is the maximum amount a policy will pay toward a covered claim. You'll want to know your policy limits and how much coverage they provide for your electronic devices (as well as other belongings).

When you purchase a renters insurance policy, you'll likely have to choose between "actual cash value" and "replacement cost" coverage. The type of protection you choose helps determine how much you'll be reimbursed for a covered loss.

For instance:

  • Actual cash value coverage: Takes depreciation into account when determining how much your policy will pay out after a covered loss. Maybe you spent $800 to buy your laptop or tablet several years ago, but, due to depreciation, that's not necessarily what your insurance company will cover if you file a claim today.
  • Replacement cost coverage: Provides for the cost of a replacement laptop or tablet, of similar make and model, in today's dollars. Premium costs for this coverage may be higher than the cost of actual cash value coverage, but you'd likely have greater protection.

In some cases, you may be able to purchase additional protection for a laptop computer. A local agent can explain what coverage options are available to you.

It may be hard to picture life without your laptop, tablet or smartphone, which is why it makes sense to understand what kind of coverage your renters insurance policy provides. Your agent can help you review your policy so you can determine whether you have the coverage that is right for you.

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This content is for informational purposes only and may not be applicable to all situations.

Coverage subject to terms, conditions, and availability. Policy issuance is subject to qualifications. Allstate Insurance Company, Allstate Indemnity Company, Allstate Fire and Casualty Insurance Company, Allstate Property and Casualty Insurance Company, Northbrook, IL. © 2019 Allstate Insurance Company, Northbrook, IL.
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