Just released: How to raise venture capital in 2023


Your Business Insurance Covers Stolen Laptops. Here’s How.


Key Takeaways

Carl Niedbala - Founder Shield
Carl Niedbala

COO & Co-Founder

The holiday season is upon us!  Time to lock up the offices and head home to spend some time with family and friends.  Everyone’s taking some time off, right? Unfortunately, it’s ‘one of the busiest and most lucrative times of the year for criminals.

It’s not uncommon for us Founder Shield folks to come back from family time only to find some claims in our inboxes.  One of the most common claims we see around this time?  Stolen laptops.  You lock up your office for the holidays only to come back and find that all of your productivity machines have disappeared.

The good news is that stolen laptops can often fall under the category of an insurable risk and be covered by your business insurance. This coverage is typically included as part of your property insurance, either as a standalone policy or bundled within a comprehensive business owner’s policy. To ensure you’re well-informed about your property coverage, the claims process, and how we provide you with the necessary protection, let’s delve into the key details.

Your business insurance covers stolen laptops via your property insurance, which can be a standalone policy or packaged as part of a business owner’s policy.  Here’s what you need to know about property coverage, what you can expect from the claims process, and how we’ll get you covered.

When am I covered?


Generally speaking, property coverage is afforded to a policy-holder when the property damage/loss occurs on-premises.  That means that the physical location at which your company operates must be explicitly scheduled as a location on the policy.  As a business-owner, it’s important to make sure that your insurance broker knows when you’ve moved offices or added new locations.  Otherwise, there’s a chance you’ll miss out on coverage you’re paying for!  While property claims are generally only covered on-premises, we do have the ability to add some coverage for property in transit or off-premises.  Please talk to our team to confirm that this coverage is afforded by your policy.

Timing & Amount

This one might be a bit obvious, but your policy has to be in force at the time of the loss.  You also want to make sure you have enough coverage in force to insure the value of what you’re trying to cover.  For example, if you have 20 laptops in your office, a good ballpark would be $40,000 in coverage to make sure you’re covered even if completely cleaned out.


How do I recover money for the loss?

You’ll need some documentation to prove that the laptops were actually stolen.  Usually this comes in the form of a police report.  While you’re at it, you may want to take some pictures of any damage that occurred to the office during the theft, as that may also be claimable on your property policy as well.  Common examples include broken locks, furniture, or windows.  If you’ve replaced the laptops already, you should include the receipt for the new replacement machines as well (we’ll get to why in a minute.

Beyond the documentation, you may be asked to complete an incident report form or hop a call with a claims adjuster to talk through what happened and what was stolen.  We’ll usually ask for a call as well to give any advice that we can on the matter.


How much money will I recover?

Property losses are paid out in a couple different ways (which vary a bit in calculation from state to state).  The two main valuation methods are “replacement cost value” and “actual cash value.”

Individual states generally define actual cash value (ACV) is as replacement cost minus depreciation.   Note that California insurance law is a bit different.  If your policy values property at ACV, you can expect the claims adjuster to include depreciation into the recovery amount you’ll receive.

Replacement cost value (RCV) is generally defined as “the cost to replace the damaged property with materials of like kind and quality, without any deduction for depreciation.”  This method is more favorable because it doesn’t factor in any depreciation, which is why we push for RCV coverage on every policy we place for our clients.   If you have RCV, you can generally expect to recover the amount you paid to replace the laptops.


Keep in mind that, regardless of the recovery amount, your policy’s deductible always applies. If you have a policy with a higher deductible, it may be wise to consider the extent of coverage provided before making a claim. Sometimes, the minimal compensation above a high deductible could be outweighed by an increase in premiums the following year. We’re here to assist you in evaluating your options.

As we approach the holiday season, we wish you a joyful and secure time, with the added assurance that your company’s property remains safeguarded. And remember, for lenders loss payable considerations, we’re just a call away.

Related Articles

June 22 • Property

Property Insurance for Crypto Mining Facilities — What’s the Big Deal?

Crypto mining facilities are popping up more and more nowadays, especially with cryptocurrency wildly popular. Here’s why property insurance for crypto mining real estate is such a big deal.

November 29 • General LiabilityPropertyRisk Management

What is Loss Payee and Lenders Loss Payable?

In the world of insurance, protecting assets and investments is paramount. Loss Payee and Lenders Loss Payable are two critical terms that come into play when third-party interests are involved. In this article, we will explore these concepts and how they relate to insurable risks. What is a Loss Payee? A Loss Payee is similar

insurance for biotech companies
August 29 • Directors & OfficersProperty

Insurance Guide for Biotechnology Companies

Our guide to insurance for Biotechnology companies. What risks do Ag-biotech & Biopharma face? What policies do they need?

dockless scooters featuredv
August 22 • Cyber LiabilityGeneral LiabilityProperty

Growing Pains: The Future of Electric Scooters and Bike Sharing

Electric scooters and dockless bikes are popping up everywhere. We dive into risk management and the future of the industry.

protect traveling employees
March 15 • General LiabilityPropertyRisk Management

How do companies protect traveling employees?

Technology may be breaking down geographic barriers but that doesn’t mean sending your employees overseas is getting any safer. Businesses whose employees travel internationally are familiar with these risks. But how do they protect traveling employees? Every company faces unique challenges, yet certain risks are ubiquitous across industries. We’ll delve into why these risks matter

insurance cover burst pipes
January 11 • General LiabilityProperty

Cold Weather Warning: Does your insurance cover burst pipes?

We’ve seen some intense weather over the past few weeks. Had you ever heard of a bomb cyclone before? Yea, us neither. What we do hear about — unfortunately way too often — is an insurance claim that usually accompanies cold weather: water damage from frozen plumbing. So does your insurance cover burst pipes? Let’s