How do you insure your laptop when you have already left your country of residence?

#1

Hello Digital Nomads!

I’m in a bit of a pickle: I am a Canadian resident currently living a bit everywhere in Europe. I’m starting a trip around the world in March while I keep doing freelance work. I know want to insure my laptop, but how can I do that? In the eyes of Canadian insurance companies, I’m already on my trip… Any help would be greatly appreciated!

Thanks!!!

Laurie
LaurieMillotte.com

How to insure my belongings when traveling in SE Asia & South America?
#2

I don’t know anything about Canadian insurance, but I simply don’t. It’s a fairly minor expense if it needs to be replaced or repaired, however inconvenient.

#3

Don’t overthink it, @Laurie. Some credit card travel insurances will include valuables up to a certain limit. But as long as you don’t travel with golden jewelry all this tech is not that expensive any more. Just calculate your average depreciation for it (including occasional theft and destruction) and build up accruals accordingly.

After you have a number you will see that insurance is a bad deal for you. Else the company wouldn’t do it. In addition to the real risk they also need to cover administration and profits (which you don’t have to).

In general I would never insure anything that won’t bankrupt me head-on. it’s always cheaper to skip insurance and occasionally pay yourself.

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#4

Hi @JamesSchipper and @manu,

thanks for the speedy answers! It’s just that my MacBook Pro is only 2 months old you see… so it’s still a bit of money for me! (I checked my credit card would cover me in case of burglary so that’s something already).

#5

That’s the worst case, I was NOT hoping for, as it clearly doesn’t proof my point :frowning:

#6

Hi Laurie,

If you want to insure your laptop, maybe it is a possibility to look for an “valuables insurance”, this is an external insurance that has nothing to do with your travel insurance ( so no problems with the fact that your already away). I have such an insurance and it costs me a few bucks a month to have insurance till a certain point (moneywise).

Hope that this is possible for you, because this is a dutch insurance.

#7

Thanks! I’ll definitely look into it!!!

#9

Do you have any insurance in Canada on a car or apartment?

You might find that it already covers your laptop, or that it could be added for a small fee, regardless of whether you are in Canada right now or not. Check with your agent.

#10

I did wonder about Home Contents Insurance (as we call it in the UK) but more often than not you couldn’t get away with “theft” whilst abroad because the terms stipulate it has to be a house robbery.

#11

Yes, it all comes down to the details in the policy.

In Canada, we can specify certain valuable items on the policy and they get extra coverage, including theft or loss when not at home. I’m pretty sure we could add an item with proof of purchase without taking it “home”. It costs a few dollars a month for each item, depending on value.

#13

I’ve found I’m covered, even overseas, by adding my laptop to my homeowners’ insurance (I’m assuming renters’ insurance can add similar protections). I’ve dropped a latte on it, and it was covered, and travelled overseas (thankfully without issue) and it was covered. It comes out to around $80 per year.

#14

don’t forget to backup (preferably online)
:smile: losing your data is worse than losing the laptop / phone / etc.

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