# Insurance on credit card purchases



## ShowMeTheMoney (Apr 12, 2009)

Hi all,
I just wanted to share with you something I just discovered recently. My Mastercard claims to insure new purchases against lost, damage or theft for 90 days. So when I fried my new laptop by pouring a glass of wine into it , and of course "liquid" damage is not covered by the manufacturer warranty, I gave the credit card a call. Turns out it's "secondary" insurance, which means they only cover up to my home insurance deductible. That's in the fine print of the agreement, but it's not defined, and certainely not advertized as such. Also, if you don't have home insurance, or if the claim is over $500, you need to get a notarized signature that you don't have any additional insurance to cover it. Of course you need all the receipts, and credit card statements, repair statements, insurance policy etc.. and they delayed things by asking for such things I'd already sent them. They don't require you to actually make a claim to your home insurance though. The good news is that although Apple could not repair the laptop, they gave me a new one for the price of the display, and I did get some of that money back from the credit card insurer, so it was worth the hassle.


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