Jargon buster

Please note: the explanation of terms below is intended for guidance only; for contractual definitions, refer to the policy wordings.

Accessories - these are items that are specified on your schedule and can include adapters, cards, cases, data storage devices, input devices, networking accessories, docking stations, security devices and webcams.

Age - the age of your laptop relates to the date of manufacture and NOT the date that you purchased the item. We need to know this so that at your renewal date we can ensure that the laptop is not more than 6 years old and therefore not eligible for cover.

Annual payment - a one-off payment in advance to cover a year’s insurance. This is the cheapest way of obtaining cover.

Annual policy - all Laptopguard policies, even when paid by direct debit, are annual policies and cover you for a full 12 months unless cancelled by either party under our standard cancellation terms.

Certificate of insurance - the document that contains the terms and conditions under which your laptop is insured. See also policy wording.

Commencement date - the date that the policy starts.

Depreciation - due to the limited life expectancy of portable laptops we apply a deduction to any claim for wear, tear and depreciation on any laptop over 18 months old. The maximum age we can insure a laptop is up to 60 months or 5 years.

Evidence of ownership - to pay out for an insurance claim, we need to be certain that you were/are the owner of the insured items. Evidence can be shown by, for example, an original receipt clearly showing the item and date of purchase. Alternative evidence can include a bank or credit card statement, photographs, a copy receipt from the retailer, packaging or literature.

Excess - this is the amount of money that you contribute towards the cost of a claim. With Laptopguard there is no excess on your Laptopguard insurance but there is a minimum claim amount.

Forcible and violent entry - entry to a property that clearly shows damage to the lock, building, room or vehicle, caused as a direct result of theft.

In vehicle - this covers your insured items whilst transported in a vehicle.

Insured location - this is a single, specified place where you store the insured items, typically your home.

Laptop - means portable laptop computers, notebooks, and their accessories, including adaptors, cards, cases, data storage devices, networking accessories, docking stations, security devices and webcams.

Locked luggage compartment - this can be:

• A locked car boot
• A locked rear storage area of a hatch-back, four wheel drive, MPV, SUV or estate car, subject to a factory fitted cover being in place (where the cover isn't available, items must be kept out of sight)
• A locked rigid bodied van, mini bus or camper van providing the windows have been obscured and providing any items are in a compartment of the vehicle that is not accessible from the drivers area or, where the compartment is accessible, kept out of sight.
• A rigid body fully enclosed trailer attached to a vehicle by a shackle bolt.

Material facts - this is any piece of information that might affect our decision to provide you with insurance. Under UK law, you are obliged to advise us of any material facts, such as convictions for fraud, theft or dishonesty, prior claims or events, or any special terms or conditions that have been applied by previous insurers.This obligation applies at the time you arrange insurance and extends to any change in circumstances whilst you are insured with Laptopguard

If facts come to light once your policy has started, we have the right to refuse payment for all or part of any claim you may make.

Minimum claim - we don’t handle claims for less than £100 – any claim over this amount is for the full amount and no excess is deducted.

Period of insurance - the length of time for which you are covered, all Laptopguard policies run for a period of 12 months even when being paid by monthly direct debit.

Policy summary - this is a brief outline of the terms and conditions including any significant exclusions or conditions of an insurance policy. We are required by the Financial Services Authority to provide you with important keyfacts regarding your policy. The summary is not a substitute for reading the full policy wording.

Policy wording - this sets out in full the terms and conditions of your insurance cover. It is essential that you read the wording and comply with any terms and conditions it sets out. We have made it as straightforward as possible to read and understand.

Much of the information provided on this site is for guidance – only the relevant policy wording can be taken as a binding contract.

Premium - the amount you pay (either a single amount in advance or by credit agreement with PIN Finance Ltd) to provide annual insurance cover for your gadgets and gizmos.

Replacement value - this is the price an item would normally cost new in a store including VAT rather than a specially discounted or sale price or ebay bargain!

Serial number - the unique code that identifies that item. It is essential that we have the serial number for every item - the serial number (and proof that it relates to the item insured) will be required in the event of a claim.

Sum insured - this is the total value of your laptop and any specified accessories.

Terms of business - the basis on which you do business with us. Click for more information.

Unattended - whilst the laptop is not being held or used by you or a responsible adult, it must be kept in accordance with the requirements set out in the policy wording.

All items must be stored in a locked luggage compartment of a vehicle or kept in a locked room or cupboard. You must not leave your laptop in a vehicle overnight, even if stored in the locked luggage compartment.

Value - this is the usual, non discounted price of an item if purchased new at the time your policy starts. The best way to get this value is to find the price of your laptop if you had to replace it now, if your laptop is no longer being made, find an alternative with a similar specification and functionality.

We'd recommend that you use a reputable store to assess this value rather than Ebay or a discount store selling last season's stock.