Contents insurance on gaming PC

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dudalemon

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#215488 29-Jun-2017 15:52

Have spoken to a few people.

I want to get contents insurance for my Custom built PC (as i am flatting) and my financial adviser recommends to get a cover that if anything is over 3 years old it will be covered under depreciated value. I have almost all receipts and with the receipts i have, it is almost $6000. The problem is. Most computer parts cease to exist after 3 years on the market. So is this an escape clause for the insurance company to pay little to nothing?

Does anyone here have their PC covered? I want to basically phone up and give them receipts and pay premiums on an agreed value that i can basically get cash in hand if it gets stolen or anything else.

I've been recommended AMI insurance. What insurance are you guys using?

Andib

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#1809095 29-Jun-2017 17:54

TBH, a computer older than 3 years is worthless to anyone but you.

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lucky015

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#1809112 29-Jun-2017 18:56

Depending on your policy and with the receipts kept I'd imagine you could list each component individually with either some form of equivalency replacement or cash value as dictated by the policy aka. agree/replacement or market value.

toejam316

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#1809129 29-Jun-2017 19:31

I've often wondered about this myself - how would I go about valuing my computer?

I imagine it'd be best to describe the items by market comparison, rather than specific specs, i.e. instead of listing Intel 3GHz quad core, maybe list Enthusiast Tier Intel Overclocking CPU for high end consumer socket. Or for a GPU, instead of listing a GTX 1080, in my case I'd probably want to list top of the line factory water cooled GPU. It'd be best to discuss in detail with a insurance broker, I imagine.

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afe66

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#1809187 29-Jun-2017 20:18

The issue with insuring computer equipment is it devalues extremely quickly.

What costs 6000 this year could well be 4000 next year then 2000 the year after that.

Your insurer would be able to tell you this stuff. When you fill-out the initial application you lists the model or components and it's production cost.

If you claim the insurer will tell you how much they think it's now costs to replace like with like.

IE no different to a 6k car or clothes.

dickytim

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#1809305 30-Jun-2017 06:26

Andib: TBH, a computer older than 3 years is worthless to anyone but you.

I was ready to refute this but thinking about it I can't.

However rebuilding that computer will cost plenty!

Batman

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#1809363 30-Jun-2017 08:57

Are you worried someone might steal it or are you worried you might pour beer on it? There are smaller easier more valuable things to steali would have thought.

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#1809378 30-Jun-2017 09:17

No offense, but if youve paid $6k for a PC, then paying $2k for something equivalent, but newer tech a few years later, should'nt cause you an issue......

Gavin / xpd / FastRaccoon / Geek of Coastguard New Zealand

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1101

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#1809572 30-Jun-2017 12:45

Andib: TBH, a computer older than 3 years is worthless to anyone but you.

a $6k PC will still have real value after 3 years , no where near that initial cost though .

Seriously consider if its going to be worth all the hassle , to you. Making a claim & having ongoing arguements
about the insurance payout .

And the insurance company may not pay cash, just replace with a PC from their suppliers : ie a PC from Noel Lemming
I cant image the insurance co seeing it as being worth the hassle to do otherwise , for a small 1 off contents in a Flat.

Lizard1977

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#1809695 30-Jun-2017 16:31

Wouldn't it be similar to how cellphones are treated? I've just had a 2-year old iPhone 6 replaced under insurance and they replaced it "for like", which means an iPhone 6S. Presumably if they weren't available any more then the equivalent would be an iPhone 7. I guess the problem is that many insurers wouldn't know how to equivalise(?) a GTX1080 graphics card several years after the fact.

Jase2985

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#1809702 30-Jun-2017 16:42

just be aware with a PC you would be unlikely to get $6000 worth of replacement components 3 years down the line.

i had a $1500 laptop stolen after i had it for 2.5 years and i got a $700 one as a replacement. the specs were better than the one that was taken. i also had little to no choice in what i was given either.

Jase2985

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#1809703 30-Jun-2017 16:43

Lizard1977:

I guess the problem is that many insurers wouldn't know how to equivalise(?) a GTX1080 graphics card several years after the fact.

they have companies that do this for them.

Sideface

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#1809808 30-Jun-2017 18:42

A computer is like a luxury car - it loses half its value when it goes out the showroom floor, and is superseded within 12 months.
Arguably, a state-of-the-art PC is superseded within 6 months.
After 3 years, it is worth a small fraction of its new price, and is written off after 5 years.

I don't even bother to insure my (domestic) PCs.

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scuwp

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#1809817 30-Jun-2017 18:54

Some companies offer like-for-like cover (AA?) Shop around.

Lazy is such an ugly word, I prefer to call it selective participation