Idaho Insurance Department Launches Portable Electronics License
The Idaho Department of Insurance will begin licensing businesses to sell portable electronics insurance to cover the repair or replacement of portable electronic devices such as cell phones and tablets and their accessories starting July 1.
“This type of insurance has been available without regulation for some time,” Department Director Bill Deal said in a statement. “By requiring vendors to be licensed, the department has the ability to monitor the product and protect consumers.”
As of July 1 portable electronics vendors may not offer this insurance without a license from the department. Authorized employees of the vendor may sell this insurance under the umbrella of the business license. Vendors currently operating in Idaho have until Oct. 1 to come into compliance with this new law. New vendors must be licensed before selling this insurance.
Portable electronics insurance covers losses such as theft, loss of device, mechanical failure, malfunction and damage. The insurance does not include service contracts or warranties.
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