Understanding the Benefits of Electronics Insurance Coverage
Home Media Package
With the ever-changing tech world we live in, we’re buying and gifting new gadgets and electronics more often than ever. Plus, many of these items are a big investment. It’s important to make sure your new home electronics and digital devices are covered with electronics insurance.
Standard home, condo and renter insurance policies only provide limited coverage for computers, TVs and other electronics. For example, a typical policy might include computer insurance up to $3,000 or $5,0001 in coverage, but not for related devices. And, the electronic device insurance coverage usually only applies in the case of perils specifically listed in the policy, such as fire, lightning, wind- and hailstorms.
Even if there is some coverage for your electronics, the deductible for your home, condo or renters insurance policy still applies.
But, Ameriprise Auto & Home Insurance policyholders have the opportunity to purchase additional computer insurance, TV insurance and other coverage for their electronic devices through our Home Media Package. This endorsement, which is added to an existing home, condo or renter insurance policy, adds extra electronics insurance coverage for digital devices by packaging together coverage. It includes insurance for computers as well as items such as TVs, home theaters, cameras, mp3 players, cellphones, portable DVD players and related equipment. Even better, there's no need to provide a list of individual items, and there's no need to go through the hassle of obtaining appraisals.
The Home Media Package can be purchased in $2,500, $5,000 or $10,000 increments. It broadens coverage on digital devices to include most major electronics that are in your home. (However, coverage is not available for some small electronics like video game or GPS systems, for instance).
Why Add Home Electronics Insurance Protection?
There's a distinct difference between the coverage included with basic home, condo or renter insurance policies for electronics and the added protection of the device, computer and TV insurance coverage that comes with the Home Media Package. For example, if you were to spill coffee on your digital camera, with a standard policy, there would be no coverage to repair or replace it. But, if you purchased the Home Media Package, there is coverage to have the camera repaired or even replaced. In other words, the coverage is broader and includes most types of losses that may occur — not just the perils specifically named in your policy. Plus, there is no deductible to worry about in the event of a covered loss.
Help keep all of your valuable electronics safe with the right electronic device insurance. Consider all of the electronics you own, along with their estimated value. If the total is more than $3,000 (minus the amount of your policy deductible), then an electronics insurance package, like our Home Media Package, might be a good coverage solution for you.