Accidental Damage Protection: is it really worth it?

I'm a first time laptop buyer and would like to get a Thinkpad. I'm a grad student and I can get a good deal at my university on a z60m that includes a 3-year limited warranty. To get the extra accidental damage protection is an additional $200 for 2-years. Is it worth it?

I've had a desktop for 6 years and have never spilled coffee or the like on it and I keep hearing that Thinkpads are really sturdy machines with spill proof keyboards, etc. The extra $200 is a lot right now. Any opinions?

Thanks!

 

Well, notebooks are much more accident prone than desktops, so just keep that in mind. I am about to buy a notebook, probably a T60 and I think I am going to pass on the damage protection. Thinkpads are really well built, and I think, for me, the $200 will not be worth it. But in the end, just think about your typical use and base it on that. If you will be carrying it around a lot, it may be worth it. But if you leave it on your desk all the time, then I would pass.

 

I actually spilled soda on my T43 keyboard. Within 10 seconds I had napkins on my keyboard. The spill proof keyboard works excellent and the keyboard has drain plugs on the bottom of the Thinkpad. No damage.

 

i personally wouldnt given the thinkpads very good build quality and durability. however, if youre gonna be carrying it around a lot, it might be worth is because you never know whats going to happen. if its just gonna be sitting around, ive never had anything major happen to my laptops so i say nay.

 

Might want to consider a rider on your homeowners/renters insurance which in addition to accidents will cover things like theft which are not covered under accidental. It is also generally cheaper.

 

I dont think any of the accidental coverage plans are worth the money. If you have homeowners (or even renters) you can get much better coverage for far less.

I have USAA and have 5000.00 in coverage for both my laptop and my desktop computers. It covers theft, damage (for ANY reason other than intentional), loss - including data loss, etc... all for about $8 or $9 per month. Accidental coverage for my Sager would have cost more than 3 years worth of premiums and I usually dont keep a notebook that long.

 

I am an insurance agent. With homeowners policies, you can get away with one claim (and with most companies a reported claim that is not covered is still considered a claim) in the last three years without a problem (in general), so wasting your one permissible claim for something as trivial as a problem/theft with your laptop computer is not intelligent. Homeowners insurance is for big problems, and if you have your computer as a scheduled item on you policy (such as you would with valuable jewelry, fine art, etc.) there would all risk coverage with a minimal deductible, otherwise you'd be subject to the normal deductible on the homeowners policy. Also, there's a coverage limit on HO policies regarding household items in vehicles (or away from the premises like at school), generally being as low as 200 dollars. Don't waste a claim putting you at risk for getting your HO policy cancelled if you then put in a subsequent claim. Talk to your agent and see how your company does things. I'd never waste a claim for my Thinkpad on my homeowners.

 

Which insurance company do you work for (so I can make sure not to recommend it! j/k ).

I would not consider theft of my work laptop to be "trivial" by any means and would not be pleased with my insurance agent if they thought as such. $2500.00 for my laptop is non-trivial enough without taking into account the software and loss of other documents.

As for the "1 claim/3-years" before running into a "problem" - well...I guess that is a reflection on the insurance company. I have had 2 Homeowners claims on my insurance in the last year alone, and 1 was for a damaged computer and I have had NO "problems", no insurance premium raises, no denials,etc... I dont think claiming a damaged / stolen laptop is in ANY way a "waste". If an insurance company thinks so...maybe its time for a new insurance company - ESPECIALLY if your company would have the audacity to drop your HO policy because of a claim. I've been with my company (same for HO, auto, life, etc...) for 23 years. Not to sound naive / ignorant, but I dare them to even consider dropping me for making a claim on a $2500.00 laptop. You dont get a good reputation by dropping policies because people utilize them for the purpose they are MEANT to be used.

BTW - just rechecked my coverage. I have a $100.00 deductible for any claim on my computers / computer equipment. My coverage is actually $6000.00 and my premium is much less than I thought - less than $3 / month. My coverage covers me at home, school or work. In my car, house or anywhere I use it. About the only situations where I am not covered are (and I quote) 1) Damage due to war, civil war, insurrection, etc, 2) Nuclear reaction / radiation. 3) Damage due to vermin, rodents, insects if owned or kept by the insured.

Bottom line - I agree that you need to talk to your insurance company. Hopefully your company is as reputable as mine. I dont care how you slice it - for me $36.00 / year for TOTAL coverage (minus a hundred bucks) is one hell of a lot better than any accidental damage plan I've seen and in no way a "waste" of a claim. (BTW - my brother is also an insurance agent and also has coverage for his laptop).

 

It nice to know that you are an expert on the policy provisions, exclusions and conditions of your coverage. Ask your bro about multiple claims, and then ask an underwriter at your company, not the agent, as the agent is not the arbiter of claims effects on policies, only the underwriter. Being a loyal customer for 23 means nothing other than you've put 23 years of premiums in the pool.

 

Not sure if you were being sarcastic about my being an "expert", however I will assume you were not and thank you for the compliment! Personally I dont view it as being an expert. I view it as not being ignorant.

ALL the folks I have dealt with at "my company" for claims WERE adjusters (i.e. arbiters). As I ALREADY stated - I HAVE filed multiple claims on my homeowners. Those claims were not arbitrated by the agent (I am well-aware of the difference between an agent and an arbiter/adjuster) - they were done by an adjuster. As I stated, I HAVE filed multiple claims - hell, in the last 3 years I have probably filed 7 or 8 claims for various issues - home water damage, computer damage, roof damage from Hail, Automobile accident (other drivers fault) with injuries, etc... - ALL filed with the same insurance company. I would consider THAT multiple claims and none of the underwriters had ANY issue with paying the claims. Ever.

Your view on multiple claims may be the same as other companies and it may be different than other companies. In any case it is a reflection on your employer. MY experience has been otherwise. I doubt that my experience is the exception or some rare occurence.

And to the originator of this thread - you should take f1reverbs own advice - talk to an underwriter and NOT an AGENT.

BTW - I DO have to admit one mistake on my part - I was incorrect on what my brother does at his insurance company. After talking with him (as it was suggested I do), I discovered, interestingly enough, that he is NOT an agent, but a Claims Manager!! His insurance field is not homeowners, but he still knows a thing or two about paying claims.

Finally (and this will be my last word on this) - I do appreciate your frankness/honesty about stating that my 23 years of loyalty means nothing other than paying 23 years of premiums. All I can do is reiterate my previous sentiments. A company that feels that way (and whose employees make it a point to state that on a public forum) will never get my business or recommendation. I believe MY company recognizes loyalty. Small example (for USAA - my insurance carrier) - a few years back I had motorcycle insurance through them. I sold the bike and a few years went by before I purchased another. When I called to get a quote about motorcyle insurance, they informed me they no longer insured motorcycles. When I gave them my info and they saw that I had been with them for nearly 20 years they made an exception for me. In fact, my total vehicle insurance premiums actually went down due to now having a multiple vehicle discount - so they made no money on me adding a motorcycle.

Bottom line (again) - talk to your carrier. If you would rather throw away 400-500 dollars on an accidental coverage plan - go for it. The ONE time I used accidental coverage for a piece of electronic equipment (many years ago) it ended up being a HUGE hassle. My equipment never got replaced and all I ended up with after endless complaints was a partial refund of the coverage plan. I will NEVER purchase another plan like that for a piece of equipment. THAT is what I have insurance for and THAT is what I will use it for. Period.