How Does Home Insurance Work for Electronics?

Home insurance policies cover a variety of dangers that can face both your physical home and everything in it. Along with personal belongings, you may have multiple electronics that need coverage in case of an accident. If your expensive laptop is stolen, for example, you will want to know that home insurance will cover the cost of a replacement. 

Thankfully, home insurance covers most items including electronics. 

Home insurance covers most types of unexpected and accidental incidents except for intentional damage If you accidentally knock over your television and it breaks, for example, your coverage does not apply. If someone takes the TV from your home in a documented break-in or the TV has damage from a vandalism event, your policy may offer coverage. Most of the time, electronics are covered in instances of fire, theft, vandalism and storms. Other damaging incidents might also have coverage.  

What Type of Electronics Apply for Home Insurance? 
Most of the time, your home insurance policy provides coverage if you can prove you owned an item. For example, if you claim someone stole your $5,000 laptop, but cannot provide a receipt for it, you may have limitations on your coverage. On the other hand, if you have proof of purchase for your items of value — such as televisions, computer systems, expensive gaming systems, home security systems and other items — it may help you replace them.  

How Much Is Your Item Worth?  
Another factor to consider is the value of these items. Most contents insurance policies provide coverage up to a set minimum per item. For example, they may not cover items outright over the value of $1,000. There is also a total limit applicable. According to the Insurance Information Institute, some companies cover between 50 and 70 percent of your personal belongings in value – a percentage of the total amount of coverage you have for the structure. 
 
If you have an item of high worth, you may be able to protect it with an endorsement on that item. For example, you can insure that laptop on your home insurance policy as an add-on or endorsement. This helps the agency to know of the value and helps protect your valuables that are worth more than the limits of the plan.  

Speak with an insurance agent about ensuring your electronics under home insurance and ask about ways you can maximize your coverage.