Since my robbery in Kampala, Uganda last month I have re-equipped myself with a shiny new Macbook Air.
Once expects some lost or stolen items when traveling but it only happened to me twice – once in Monterrey and in Uganda. All the countries I have been to I never had an issue and never had anyone threatening me (though I go a long way in preparing myself against potential threats like in Dar Es Salaam recently). Incidentally I never used my medical travel insurance plan – ever!
So what are the best options to get Macbook Pro theft insurance?
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Visa Purchase Protection
If you have bought your item in the last 90 days with a Visa credit card you can take advantage of the Visa Purchase Protection.
This insurance comes without any extra charges and you just need your credit card statement to show for it. Up to $10,000 will be reimbursed per claim (incident).
Discover Purchase Protection
The Discover Purchase Protection comes with every Discover credit card purchase but only covers up to $500 in claims.
American Express Purchase Protection
American Express Purchase Protection can be an effective Macbook Air theft insurance but only up to $1,000 per claim.
Apple Care is a popular service that Apple adds on to their products. However it DOES NOT protect against theft.
Renters Insurance costs about $200-$300 a year and some policies do include electronics. Contrary to their name theft outside your house is usually covered.
The potential claims are limited usually to about $1,000 but you can take out a rider on top of your existing policy to get reimbursed for stolen electronics up to $5,000 with most insurance companies. This will usually make the renters insurance policy cost you up to $50 a month!
A business insurance will provide insurance against multiple negative events. Most policies include loss of business property through theft in their policies. This requires that you have an existing business of course and will cost you about $300 per month!
Inland Marine Insurance (covers Macbook Pro Theft Insurance)
Inland Marine Insurance is similar to a rider on renters insurance and some insurance companies will provide coverage through this product for your travel items (despite the name land and air travel is perfectly covered).
Safeware Macbook Pro Theft Insurance
The Safeware website does not look like much but the company is one of the biggest players in the consumer electronics insurance market. The company usually operates through re-sellers and does not actively market their own brand name.
I inquired directly via the contact form and got a reply within hours on how to get insurance for my Macbook Pro theft insurance:
We do offer Individual Insurance policies, covering mobile electronics such as Desktops, Laptops, Tablets and Smartphones; the unit must have been purchased within the last 60 days. We will need the following information in order to provide a quote for coverage. We also require a copy of the purchase receipt, photo of the unit showing the Serial Number as well as written confirmation that the unit is in good working order and in your possession.
Our policy covers Accidental Damage (drops, falls, cracked screens and liquid spills) Theft, Robbery and Burglary (anything a Police Report can be filed on) and Standard Perils (flood, fire). We offer deductibles of $0, $50, $100, $250 and $500. Our Smartphone Coverage does have a mandatory deductible of $50.
For the Macbook Pro theft insurance (it retails for $999 plus tax) the premium comes out to $75 annually with a $100 deductible.
For me Safeware is the best option (since I do not pay for renters insurance currently) and I will get this underway.
What insurance do you have when traveling for your electronics?