Because they're so portable, laptops are prime targets for theft. Teams of thieves will work the airports, hunting for business travelers. Dropping a laptop can also be costly; damages to the screen can cost as much $1,500 to repair.

Insurance was made to solve problems like these. But coverage for a laptop computer can be a dicey issue. The kind of coverage you need depends on who owns it and what it's used for.

Home insurance or commercial insurance?

Dave Smolensky of the National Association of Independent Insurers sums it up this way: "The owner of the laptop is responsible for the laptop." So if you own the laptop, you should make sure that it's covered under your home insurance policy. If your company owns the laptop, it should be covered under the company's commercial policy. Simple, right? Not quite.

"If [a laptop] is used for a business purpose, your standard homeowners policy won't cover it. You'd need to get a business rider," says Brian Haase, director of advertising and commercial programs at Safeware, a Columbus, Ohio-based agency that specializes in insuring computer equipment.

Haase notes that coverage terms will vary from carrier to carrier. That's why it's important to discuss computers — as well as other expensive items — with your insurance agent. A company may cover your laptop, but only up to a certain amount. And not all companies will cover a loss that happens to your laptop on the road. Make sure that you ask your agent lots of "what if" questions and that you describe how you'll be using the equipment.

Not surprisingly, Haase argues that it's best to buy computer insurance from an agency that specializes in the coverage. "Day in, day out, we eat sleep and drink" computer insurance, Haase told Insure.com. "They know exactly what to do when you have a loss." And he may have a point. The average adjuster for a big, general insurer like State Farm probably doesn't deal with too many cases of dropped laptops. However, you'll pay a lot more for a stand-alone computer insurance policy.

Safeware has a stand-alone laptop policy called "insurance to go." It covers losses resulting from fire, theft, power surges, vandalism, accidental damages, and all natural disasters, including earthquakes. It does not cover mechanical breakdowns, normal wear and tear, or mysterious disappearance. A policy with $3,000 in coverage and a $50 deductible will run about $75 a year.

According to David Schlather, an insurance agent based in Elyria, Ohio, most home insurance policies will provide $2,500 worth of coverage for business property at no extra charge. That's exactly the opposite of what Haase claims, so it's probably best to check with your own agent to see how your carrier handles business property and computers. Schlather also notes that you can purchase additional coverage for a very nominal fee: In Ohio, a homeowner who wants $5,000 worth of coverage for a laptop can purchase a rider for only $5 or $6 per year.

When to buy laptop coverage

So why would anyone buy a stand-alone laptop policy? People who travel a lot, who rely heavily on their laptops, and whose employers don't cover them may want to consider it. Some insurance companies will not cover travelers who are on the road for longer than 90 days; that's the kind of question you'll want to ask both your home insurance agent and a specialty agent.

As with any other type of coverage, it's best to shop around for laptop coverage. If you decide to go with an agency that specializes in computer insurance, be sure to check up on both the agent and the insurance company underwriting your policy before you buy.

An ounce of prevention

Here are a few precautions you can take to minimize the chances you'll ever need to file a claim on your laptop:

• When traveling, make sure that your laptop is in sight and, if possible, attached to your body. Be especially wary in airports and hotels, where laptop thieves are likely to target business travelers. Do not leave your laptop in the back seat of your car, or even in your trunk.

• When you're going through a metal detector, keep your laptop in your hand until the person in front of you has already cleared the scanner. Do not put your bag on the conveyor belt until you can follow it right through. Security stations are a common place for teams of thieves to work. One person will set off the metal detector, holding up the line, while the other person grabs the laptop a hapless owner set down on the conveyor belt too early.

• When you travel with your laptop, carry it in something that doesn't look like a laptop carrying case. A briefcase, a duffel bag, or a knapsack are all better choices and make you a less likely target.

• Keep the laptop's serial number, model number, and make in a separate location. That will make it easier to recover if it's ever found.

• If you are traveling with sensitive material, save it on a floppy rather than on your laptop's hard drive. Keep it separate from the laptop, too.

• Look into encryption systems and other devices that make it difficult or impossible for thieves to use your laptop.