Imagine the scene. Disaster strikes, and your trusty laptop takes a tumble, cracking the screen. Or maybe you’ve knocked over your water straight onto the keyboard. Or, worse, it vanishes completely from your bag – stolen!

In these moments of stress, one crucial step can significantly impact your ability to get back on track: gathering information for your Property insurance claim.

Why information matters

 The speed and efficiency of your laptop claim payout depends on several factors, but thorough information gathering is key.

Firstly, detailed documentation bolsters your case. Photos, repair estimates, police reports (for theft), and receipts for your laptop and accessories solidify the damage or loss. Having all this information is key to a strong claim that gets a quick settlement.

Secondly, the more information you provide upfront, the less back and forth is needed with your insurer. This minimises delays and allows a Loss Adjuster (if appointed) to assess your claim efficiently.

And lastly, clear communication about the incident, damage, or theft minimises confusion with your insurer. Having everything readily available keeps everyone on the same page and further avoids delays due to missing details.

 What information do I need for a damaged or stolen laptop claim?

 Here’s our checklist of all the paperwork you’ll need to gather, considering VAT implications:

 ☐ Policy details

Locate your insurance policy documents to understand your coverage and any specific claim requirements. This should include coverage for theft and accidental damage, but some policies might exclude specific types of accidental damage or have limitations on laptop coverage amounts. Be aware that VAT is typically not included in the settlement amount if you are VAT registered.

☐ VAT details

If you’re a VAT-registered business, the VAT portion of your laptop purchase or repairs won’t be included in your insurance settlement. This is because insurers cannot recover VAT when they pay out claims. However, the good news is that you can reclaim the VAT you paid through your regular VAT accounting process.

☐ Manufacturer’s report (in the event of damage)

In addition to repair estimates from qualified shops, obtain a report from an authorised manufacturer’s service centre detailing the extent of the damage and the estimated repair cost. If the report concludes that repairing the laptop is not economical (the cost of repair exceeds the pre-loss value), it should clearly state this.

 ☐ Laptop details (in the event of damage)

Gather proof of ownership, such as purchase receipts, product registration documents, or serial number information. Include details like brand, model, specifications, and pre-loss value estimates. If you’re a VAT-registered business, exclude VAT from your receipts.

☐ Police report (in the event of theft)

File a police report immediately and obtain a copy for your insurance company.

☐ Replacement options (in the event of theft)

Research and identify a suitable replacement laptop with specifications as close as possible to your stolen device. Consider factors like brand, model, processing power, RAM, storage capacity, and screen size. This helps determine a fair settlement amount for the replacement.

Our top tips for a smooth claim process

 Besides having records of absolutely everything, there are a few ways you can speed up the claim process even further:

• Contact your insurer (or broker) as soon as you possibly can – Don’t delay reporting the incident, whether it’s damage or theft. There might be time limitations for filing a claim.
• Ask questions and seek clarification – If anything is unclear or you have questions about the claim process, including VAT implications for VAT-registered businesses, don’t hesitate to contact your insurer for clarification.
• Work with a broker!

Let RiskBox handle things for you

The faster and more thoroughly you gather information, the faster your claim can be processed and settled. By being prepared and proactive, you minimise delays and can either get back to using your laptop or get the funds to replace it as quickly as possible.

This is where a broker can prove invaluable. They’ll know exactly what you’re insured for, can arrange coverage for any new equipment, and will handle communications with the insurer. Choose a broker that specialises in the digital, creative, media and tech sectors – like RiskBox – and you get a partner that truly understands the kind of things that matter to your business. Get in touch to get started.

Photo by Ashkan Forouzani on Unsplash