Coverage Options for Portable Technology
Outfitting a small business is costly, so it should be no surprise that insuring the tools you use every day like laptops and cell phones is a top priority among savvy business owners. Here are coverage options for portable technology
A common misconception is that the cost of replacing an item doesn’t justify the expense of insurance; however, new tablets and laptops can cost hundreds of dollars even before specialized software or other programs are included in the equation.
Lost productivity and wasted time associated with missing equipment is also a major consideration.
Ask your agent about current coverage limits and exclusions for portable technology and other devices.
Be sure to explain how, when and by whom an item is used.
For example, a company-owned laptop used on the road and at home by a staff member may require different coverage than a cell phone. Newly emerging technology such as an iPad or tablet may need specialized documentation, depending upon the method of connection.
Don’t assume coverage extends to other countries or even states. Instead, ask your agent about portable equipment coverage that extends to the areas you need most, especially for employees that travel out of the country.
It is also a good idea to inquire about equipment checked as baggage to assure complete coverage.
Enhanced options often provide an additional layer of protection against data loss, damage by computer virus or even liability concerns due to theft or physical loss of hardware.