Are Broken TVs Covered Under Homeowner’s Insurance?

Posted on: Aug 23, 2022 | | Written by:

Are Broken TVs Covered Under Homeowner’s Insurance?

Our home is our safe place. And we invest our heart and money into it. It is our aim to get the best things for our house so that it always looks good. It is also our responsibility to ensure that everything is safe in the house, but some things are beyond our control. To make sure that any damage to anything in the house does not cause a financial strain, it is good to buy homeowner’s insurance.

This insurance takes care of all the furniture and electronics in the house and, of course, the structure. A standard homeowner policy covers all electronic equipment in the house, and televisions are included. Many people question is broken TVs covered under homeowners’ insurance. The answer is yes. Before buying the policy, it is important to understand all the inclusions and exclusions. Let us read more about this to understand the coverage.

Does the homeowner’s insurance cover broken TVs?

Homeowner’s insurance helps cover the cost of damage to any electronic appliances, including TVs in the house. The only condition is that the cause of damage, i.e. the peril, should be covered in the policy. There are many aspects which are not covered, like if you drop the TV accidentally and the TV breaks or the screen cracks or there is any damage due to wear and tear. The claim process is simple if there is any damage to the TV for the perils covered. Next, let us talk about the inclusions of the policy.

Inclusions for broken TVs covered by homeowner’s insurance

Under a standard homeowner’s insurance, the following are covered. If anything happens to the TV because of any of these perils, the loss will be covered and paid for by the insurance company.

● Vandalism

● Lightning

● Fire

● Theft

● Storm damage

● Some instances of power surges like if the same happens due to lightning

● Water damage when it is sudden, like the bursting of a pipe

When it comes to understanding what is covered in the policy, the best thing to do is to check the policy.

When are broken TVs not covered by homeowners’ insurance?

Exclusions

As mentioned earlier as well, there are some covered losses in a standard policy and there are some perils which are usually not covered. Some of them are:

● Accident:

If, by accident, a wall mount TV falls from the wall or is accidentally dropped while being carried from one place to the other, the loss will not be covered in the policy.

● Floods:

Any damage caused by floods due to any change in climate will not be covered in the policy.

● Wear and tear:

Any loss arising due to normal wear and tear of the television is not covered under the policy. Even if their restoration work is needed, the cost of the same will not be paid by the insurance company.

● Manufacturing defects:

Any fault in the TV before it was insured or has been there since manufacturing will not be covered in the policy and paid for by the insurer.

● Unauthorized repair:

If the TV is repaired by an unauthorised service centre or company before the claim is registered with the insurance company, the insurance company might not be able to admit the claim.

● Wilful Negligence and Destruction:

Any negligence or destruction by the owner’s side causing damage to the TV will not be covered under the policy, and the repair will have to be paid from the pocket.

How much does homeowner’s insurance pay for damaged TVs?

In a standard policy, in case of damage, the insurance company pays for the repair or replacement cost after deducting the depreciation. This means the current worth of the TV will be paid. However, there is an option to take an add-on coverage for the replacement cost, which means the current value of the same TV will be paid without deducting depreciation.

How do you protect expensive electronics?

When we insure anything, in no way does it mean that we do not take care of the asset insured. The concept is the same: that we continue taking care of our health even when we avail of health insurance, right?

The same holds true for our televisions. It is quite possible that there could be damage to the TV due to usage; however, some fundamental aspects need to be kept in mind to ensure the proper running of the electronic items, such as:

1. Never leave an electronic item such as a TV on for a long time unattended. Thus, when leaving the house, etc., remember to switch it off.

2. Remember to unplug the TV from the socket whenever there is lightning and thunder to avoid short-circuiting.

3. Never touch the TV with wet hands or clean it with harsh chemicals. Instead, turn off the TV and clean it with a dry cloth.

In this way, we not only ensure they work for longer and also are adequately covered under the homeowner’s insurance policy.

Tips to safeguard expensive electronic items:

1. Store original receipts:

As proof of the purchase date and the invoice value, it is essential to keep the receipts properly. This is important to add these electronic items to the insurance policy. This comes in handy for your warranty as well.

2. Keep the insurer informed:

Once you have bought an expensive electronic item for the house and would like to get it covered under the homeowner’s insurance, you should inform the insurer at the earliest. Some items might have a limit, the maximum that will be paid. You should check your policy and take add-on coverage, if necessary, to ensure that the electronics are covered at their invoice value.

3. Maintain a log or an inventory:

You should have a record when you buy an electronic or sell or remove it from your house. Maintaining an inventory is helpful to ensure everything is covered under the insurance policy.

Also, it helps to keep a list of the claims, i.e. the date of loss, amount, etc. When adequate data is available, it helps the surveyor settle the claim easily as well.

How to file a claim for a broken TV?

If you want to file a claim for a broken TV as a result of a theft, the following simple steps have to be followed:

● In case of theft, call the police. The safety of the family is most important and comes first. Register a case for theft along with an FIR.

● Remember to take pictures of the damage as proof.

● Inform the insurance company of the loss and details of all lost items.

● Do not get anything repaired without the consent of the insurance company.

Note: However, an estimate of the same can be taken, and all spade work should be done to ensure repair can be carried out as soon as the claim formalities are done and the insurance company permits to carry them out.

Conclusion

A homeowner’s insurance policy is a policy to take care of the home building and its contents. Electronics form a large part of the contents of a house and need to be insured as well. These items are expensive, and their repairs or replacements can also cause financial strain. Thus, it is good to get a policy for home insurance. This policy covers the electronics if the damage is caused due to any of the perils covered. Broken TVs are covered under the policy for the perils covered. Before taking an insurance policy, it is important to understand the inclusions and exclusions so that there is no confusion at the time of a claim.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

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