Back to Press Releases
C.L. "BUTCH" OTTER
DEPARTMENT OF INSURANCE
700 West State Street, 3rd Floor
P.O. Box 83720
Boise, Idaho 83720-0043
WILLIAM W. DEAL
|FOR IMMEDIATE RELEASE
June 17, 2013
|CONTACT: Tricia Carney
BOISE ID (June 17, 2013) – Starting July 1, 2013, 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.
“This type of insurance has been available without regulation for some time,” says Department Director Bill Deal. “By requiring vendors to be licensed, the Department has the ability to monitor the product and protect consumers.”
As of July 1, 2013, 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 October 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.
The Department has created an information page on their website with information for vendors – including a list of frequently asked questions – at http://www.doi.idaho.gov/producer/pe/default.aspx.
About the Department of Insurance
The Idaho Department of Insurance has been regulating the business of insurance in Idaho since 1901. The mission of the Department is to equitably, effectively and efficiently administer the Idaho Insurance Code and the International Fire Code. For more information, visit www.doi.idaho.gov.