Premium costs for this coverage may be higher than the cost of actual cash value coverage, but you'd likely have greater protection. Replacement cost coverage: Provides for the cost of a replacement laptop or tablet, of similar make and model, in today's dollars.Maybe you spent $800 to buy your laptop or tablet several years ago, but, due to depreciation, that's not necessarily what your insurance company will cover if you file a claim today. Actual cash value coverage: Takes depreciation into account when determining how much your policy will pay out after a covered loss, such as laptop theft or damage caused by a lightning strike or power surge. ![]() The type of protection you choose helps determine how much you'll be reimbursed for a covered loss. When you purchase a renters insurance policy, you'll likely have to choose between "actual cash value" and "replacement cost" coverage. Keep in mind that you'll also need to pay your deductible before your insurance provider reimburses you for a covered loss. You'll want to know your policy limits and how much coverage they provide for your electronic devices (as well as other belongings). A limit is the maximum amount a policy will pay toward a covered claim. ![]() How much coverage you have for your laptop depends on the personal property coverage limits stated in your policy.
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