FCSRMC - Academic Device Insurance Program Overview JULY 2015
Academic Device Insurance - Program Overview Key Coverages Academic Device Insurance Covers unscheduled cellular phones, Tablets, e- readers, Laptops, and Computers Identity Theft Expense Reimbursement Protection Covers reimbursement of approved expenses to regain identity Family Protection Additional $25 per year Faculty / Staff Extends to Spouses and Dependent Children, residing in the same household, up to age 26 of the Faculty and Staff Students (If Applicable) Extends to Spouses and Dependent Children, residing in the same household, up to age 26 of the Student Causes of Loss Causes of Loss Theft, Accidental Breakage, Fire, Water, Flood, Vandalism, Surge & More Examples of Covered Claims Drops & Spills (Accidental Damage), Tropical Storm Damage, Apartment Sprinkler Damage, Theft, Robbery, Liquid Damage, Cracked Screens, Pet Damage 2
Academic Device Insurance - Program Overview Features Annual Policy Premium $90 per policy Plus $5 Processing Fee - $4K Policy Limit - $25 Deductible Worldwide Protection coverage anywhere in the world Active Student / Employment Participation in program requires the Student or Faculty member to be a registered Student or Employee at time of policy purchase Claims Processing Information Needed to File Claim Repair estimate for accidental damage Proof of ownership, credit card statements, photos, receipts or purchased invoices Police or security report for theft and burglary Where to File Claim On-line 24/7 via www.collegestudentinsurance.com When to Expect Payment Two week average turn around time from receipt of all supporting claim documents 3
Academic Device Insurance Comparison Chart Coverage Plan Insuring ALL Devices Academic Device Insurance Apple Care + Extended Warranties (Best Buy/Geek Squad) Standard HO or Renters Policy YES No (Device Specific Only) No (Device Specific Only) YES Theft YES NO NO YES Accidental Damage (Drops & Spills) YES YES YES NO Deductible Amount $25 $79 $150 $500 + or More Covers Any Working Electronic Device, New or Old Covers Both an iphone & MacBook at Same Time? YES NO (Device Specific) NO (Device Specific) YES YES NO NO YES Claim Reimbursement Replacement Cost Value (Cash) Refurbished Product Refurbished Product Replacement Cost Value (Cash) Can Settlement Be Used For Upgrade or Other Item? YES NO NO MAYBE Complementary Identity Theft Expense Reimbursement? YES NO NO NO Annual Premium $90 (All Devices) Plus $5 Processing Fee $99/Device (Based on Smartphone only) $79.99 /Device (2 year Minimum contract) $210 (Florida III Pub.)
Claim Examples SEE THE DIFFERENCE SCENARIO Academic Device COVER? HO COVER? EXTENDED WARRANTY COVER? 1) Left Phone in cab and cab company could not locate YES NO / High Ded. NO 2) Phone fell from pocket into toilet YES NO YES 3) Soft drink spilled onto computer YES NO NO 4) Left tablet on desk in library while using restroom, returned and disappeared 5) Fire in house caused smoke damage to computer and phone 6) Using tablet to take photo at football game and water from fan s bottle damaged device 7) Left apartment door open by mistake and came to ransacked place with several electronic items missing YES NO / High Ded NO YES YES / High Ded YES YES NO NO YES YES / High Ded NO 8) Candle ignited fire in bedroom destroying Electronics YES YES YES 9) Apartment flooded after severe tropical storm causing massive water damage to items. 10) Covers ALL School and Personally Owned Electronic Devices YES NO NO YES YES / High Ded NO
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