Is the policy for replacement or cash value? Cash value is usually not the best option due to how computers depreciate very quickly. Replacement coverage can cost 10 to 15 percent more, but will insure you will get back the system you need.
-Does the policy include data recovery?
-Does the policy cover the loss of business income while computers are being replaced or data being recovered?
-Will the policy cover any upgrades you may make to the computer?
-What is the deductible?
-Always keep receipts and show them to whoever you choose coverage with.
-Do you use your computer for business? Special policies may be needed to insure the full replacement costs are covered.
Monday, January 21, 2008
Computer Insurance Information
If you own a personal computer, it would be wise to protect your investment with proper insurance coverage.
The purchase of a personal or laptop computer has now become a major expense, which for many people, is now considered an investment which deserves special insurance protection along the same lines as a home and a car. As with any important expense, it is important to understand that computers and related accessories need to be looked at carefully when considering insurance coverage for your computer.
Homeowners and Renters Insurance May Include Coverage
Fortunately, many homeowners and renters insurance policies have some type of coverage for computers in the event of the disasters outlined in the policy. Many insurance companies, however, have limits to how much can be recovered in the case of a claim. Look carefully at these limits and compare to the expenses of your computer (or computers if you have more than one) and all related accessories such as printer, scanner, etc. Furthermore, laptop computers may need additional coverage, or an all together separate policy in case the computer is damaged or stolen outside of the home or residence.
The purchase of a personal or laptop computer has now become a major expense, which for many people, is now considered an investment which deserves special insurance protection along the same lines as a home and a car. As with any important expense, it is important to understand that computers and related accessories need to be looked at carefully when considering insurance coverage for your computer.
Homeowners and Renters Insurance May Include Coverage
Fortunately, many homeowners and renters insurance policies have some type of coverage for computers in the event of the disasters outlined in the policy. Many insurance companies, however, have limits to how much can be recovered in the case of a claim. Look carefully at these limits and compare to the expenses of your computer (or computers if you have more than one) and all related accessories such as printer, scanner, etc. Furthermore, laptop computers may need additional coverage, or an all together separate policy in case the computer is damaged or stolen outside of the home or residence.
Pet Insurance
If you own a pet, you've probably encountered several instances where your vet bill was much higher than you had anticipated. If this has been the case on more than several occasions, it may be wise to look into insurance for your pet. Insuring your pet will allow you to manage the expenses involved with good quality treatment.
Below is a list of common and not-so-common ailments, followed by their estimated medical bills for visits and treatment. This figures show the potential price range you could encounter.
Motor Vehicle Accident: $0 - $4,000 (depending on the severity of injuries)
Cancer Treatment: $500 - $3,800
Pet Eats Foreign Object: $50 - $2,500 (depending upon the object ingested)
Various Infections: $100 - $1,000
Broken Extremity: $1,000 - $2,500
Things to remember
-Some pet insurance policy providers will award a multi-pet discount. Insure Fido and Felix, experience peace of mind, as well as a discounted rate.
-Watch out for pet insurance providers that may add an additional charge, based upon your zip code (postal code), and/or the breed of your pet. Some breeds of animals are considered high risk animals due to genetics.
-Some providers offer accidental death insurance. If your pet was to accidentally die (other than by natural causes), they would pay you the original purchase price of the pet.
-Special coverage can be applied, depending upon the provider. This can range from coverage for older animals, indoor pets, outdoor pets, and by specific breed. One branch of coverage might have the coverage of another. Examine your situation closely to determine which program will benefit both you and your pet.
Below is a list of common and not-so-common ailments, followed by their estimated medical bills for visits and treatment. This figures show the potential price range you could encounter.
Motor Vehicle Accident: $0 - $4,000 (depending on the severity of injuries)
Cancer Treatment: $500 - $3,800
Pet Eats Foreign Object: $50 - $2,500 (depending upon the object ingested)
Various Infections: $100 - $1,000
Broken Extremity: $1,000 - $2,500
Things to remember
-Some pet insurance policy providers will award a multi-pet discount. Insure Fido and Felix, experience peace of mind, as well as a discounted rate.
-Watch out for pet insurance providers that may add an additional charge, based upon your zip code (postal code), and/or the breed of your pet. Some breeds of animals are considered high risk animals due to genetics.
-Some providers offer accidental death insurance. If your pet was to accidentally die (other than by natural causes), they would pay you the original purchase price of the pet.
-Special coverage can be applied, depending upon the provider. This can range from coverage for older animals, indoor pets, outdoor pets, and by specific breed. One branch of coverage might have the coverage of another. Examine your situation closely to determine which program will benefit both you and your pet.
Travel Insurance
The first thing one thinks about when it comes to travel is usually a vacation. A vacation is a time for you to relax and forget about your worries and troubles. During this supposed trouble free event, things can, and do go wrong. Ultimately, it doesn't matter your reason for traveling. Travel insurance will provide peace of mind and protection, which will save you time and heartache in the future. There is a wide variety of coverages and policies for your needs. The most common, well known are flight life insurance, travel accident insurance, trip cancellation/interruption insurance, travel health insurance, lost baggage insurance, and car rental insurance/waivers.
Some of the common things that travel insurance covers
-medical expenses (including dental)
-overseas medical expenses (including dental)
-cancellation and lost deposit expenses
-loss of luggage
-loss of travel documents
-death
-burial and transport expenses
-liability coverage if you cause property damage, injury or death to another
-weather
-various delays
Most companies will offer coverage that will last the duration of a single trip, multi-trips, and even cover your car rental.
If you are going to travel with or include the following in your traveling agenda, then some form of travel insurance is necessary
-Renting a car
-Driving an automobile in a foreign country (other than Canada)
-Renting/usage of a boat or personal watercraft
-Uninsured homeowners or renters
-Studying abroad
-Extended overseas trips
-Severe or chronic illness
-Non-refundable vacation packages
-Traveling with fine arts, jewelry, collectibles or special equipment
Some of the common things that travel insurance covers
-medical expenses (including dental)
-overseas medical expenses (including dental)
-cancellation and lost deposit expenses
-loss of luggage
-loss of travel documents
-death
-burial and transport expenses
-liability coverage if you cause property damage, injury or death to another
-weather
-various delays
Most companies will offer coverage that will last the duration of a single trip, multi-trips, and even cover your car rental.
If you are going to travel with or include the following in your traveling agenda, then some form of travel insurance is necessary
-Renting a car
-Driving an automobile in a foreign country (other than Canada)
-Renting/usage of a boat or personal watercraft
-Uninsured homeowners or renters
-Studying abroad
-Extended overseas trips
-Severe or chronic illness
-Non-refundable vacation packages
-Traveling with fine arts, jewelry, collectibles or special equipment
Universal Variable Life Insurance
Universal Variable life is the type of insurance which gives you more control of cash value account policy features than any other insurance type.
What it does
It pays a death benefit to the beneficiary you name and offers you low risk tax deferred cash value options.
It offers separate accounts for you to invest in such as money market, stock, and bond funds.
It offers premium flexibility.
It allows you to make withdrawals or to borrow from the policy during your lifetime.
It stipulates that if you terminate the contract in early years you will receive less cash value total return than in a whole contract.
What it doesn't do
It requires you, the policyholder, to devote time to manage the accounts. The policies long term success is contingent on the investment you make.
It doesn't work well with small premium amounts because your premium must cover your insurance and your accounts.
What it does
It pays a death benefit to the beneficiary you name and offers you low risk tax deferred cash value options.
It offers separate accounts for you to invest in such as money market, stock, and bond funds.
It offers premium flexibility.
It allows you to make withdrawals or to borrow from the policy during your lifetime.
It stipulates that if you terminate the contract in early years you will receive less cash value total return than in a whole contract.
What it doesn't do
It requires you, the policyholder, to devote time to manage the accounts. The policies long term success is contingent on the investment you make.
It doesn't work well with small premium amounts because your premium must cover your insurance and your accounts.
Universal Life Insurance
Universal life insurance provides permanent protection for your dependents and is more flexible than whole or variable life.
What it does
It pays a death benefit to the beneficiary you name and offers you a low risk cash value account and tax deferred accumulation.
It allows you to earn market rates of interest on your cash value account.
It offers the right to borrow or withdraw from the policy during your lifetime.
It allows you premium flexibility.
It offers face amount flexibility.
What it doesn't do
It doesn't offer you the account flexibility to invest in separate accounts such as money market, stock, and bond funds.
It doesn't allow you the account flexibility to split your money among different accounts or to move your money between accounts.
What it does
It pays a death benefit to the beneficiary you name and offers you a low risk cash value account and tax deferred accumulation.
It allows you to earn market rates of interest on your cash value account.
It offers the right to borrow or withdraw from the policy during your lifetime.
It allows you premium flexibility.
It offers face amount flexibility.
What it doesn't do
It doesn't offer you the account flexibility to invest in separate accounts such as money market, stock, and bond funds.
It doesn't allow you the account flexibility to split your money among different accounts or to move your money between accounts.
Variable Life Insurance
Variable life insurance provides permanent protection for you and is the type of life insurance with account flexibility for the more risk-oriented policy holder.
What it does
It pays a death benefit to the beneficiary you name and offers you low-risk, tax-free cash accumulation.
It allows the death benefit to vary in relation to the fund returns of the cash value account.
It allows you to borrow from the policy during your lifetime.
What it doesn't do
It offers no guarantee to the amount of cash value during your lifetime.
It doesn't offer you premium flexibility.
It doesn't offer you face amount flexibility.
What it does
It pays a death benefit to the beneficiary you name and offers you low-risk, tax-free cash accumulation.
It allows the death benefit to vary in relation to the fund returns of the cash value account.
It allows you to borrow from the policy during your lifetime.
What it doesn't do
It offers no guarantee to the amount of cash value during your lifetime.
It doesn't offer you premium flexibility.
It doesn't offer you face amount flexibility.
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