School Insurance for IT Equipment

[pbad]

The School is currently reviewing the Insurance renewal for the IT equipment. The budget cut is hitting the school pretty hard and it looks we probably won't be renewing the Insurance because it costs 5K to renew. Since I've been at the school I have never claimed for any IT equipment under the Insurance and even if the IT equipment has been lost, stolen or damaged. The School normally just pays for a replacement or gets the IT equipment repaired.

 

So my question to you, is it worth having IT equipment insurance at all?

[FN-GM]

Ours is covered in the general contents insurance. We don't have a dedicated policy for IT kit

[forkies]

Ours is covered in the general contents insurance. We don't have a dedicated policy for IT kit

 

Same. Our staff have laptops and under their loan agreement they are expected to pay (under certain circumstances) towards a replacement should they damage or it get stolen. If it is a break in to the school there would be sufficient theft value to cover any excess.

[FN-GM]

I never understand why people property mark things. You struggle to sell the equipment, It isn't cheap to do and we can claim if it gets nicked anyway. In fact I would rather not see it again and get something new!

[Edu-IT]

I never understand why people property mark things. You struggle to sell the equipment, It isn't cheap to do and we can claim if it gets nicked anyway. In fact I would rather not see it again and get something new!

In some insurance policies, and this may or may not apply in your case, it forms part of the requirements of the policy wording which is perhaps why some schools do it. Plus, equipment being stolen and replaced through insurance will at some point impact on the premiums so some schools try to deter as much theft on the basis of that given the funding crisis.

 

However, that said, I've seen some unsightly security marking! Doing it properly and relatively tidy always looks better than a scrawl.