Nomad Insurance Essential description of coverage
View PDFThis is the latest version of the policy. If you are a member, check your dashboard or to find the policy version that applies to your plan.
Below are all the areas this Insurance will cover you when this Insurance is active (your benefits). Each section is a condition of this Insurance with a clear title, a description of what is covered which clearly sets out when we will pay. All your benefits will also be limited by other sections of this description of coverage, especially important is the section called “What is not covered?”. This is why we encourage you to read the whole description of coverage.
If you have this add-on you can get reimbursed for some of the value of the items if your electronics are stolen.
Electronics covered are:
Laptops, cameras, lenses, smartphones, e-readers, music players, tablets, earphones, iPads, AirPods, drones, smartwatches, headphones, portable wi-fi devices and portable gaming devices including computer mouse.
Important conditions
You took reasonable care for the safety of your electronics.
The theft is reported to the police within 24 hours. A written report must be provided as proof that the report was made.
You provide proof of the ownership of the electronics before they were stolen (for example with a receipt of the purchase).
We apply a 50-month straight-line depreciation rule. Under this approach, items are depreciated at a rate of 2% per month from the original purchase date, based on the purchase value. As a result, items that are 50 months old or more have no remaining reimbursement value under this method.
Up to $3,000 per active insurance period, up to $1,000 per electronic. Up to $6,000 in your lifetime (lifetime max).