DUBLIN, OH--(Marketwired - January 31, 2017) - As college students walk to class, study with friends, and use their technology for a variety of functions, the likelihood of damage is higher than in virtually any other environment. In fact, Safeware, a leading provider of product protection and extended warranty solutions, recently analyzed claims data that illustrated the increase in severity and frequency of damage in this space.
Safeware launched its higher education program in 2012 with the goal of protecting technology on college campuses from damage and failure. Ultimately, this allowed students to focus upon school without distractions caused by technology malfunctions or accidents.
Safeware's recent study analyzed students in a four-year higher education program who utilized one of the company's Protection Plans. The data illustrates that college campuses are the highest risk environment for mobile technology. Compared to other mobile technology segments, such as enterprise, the college rate of claims per year on a single contract can be up to five times greater.
In this study, two out of every five students filed a claim at least once during their four years of coverage with Safeware. While not all college students experienced a claim, nearly forty percent of customers who had one claim also experienced a second within their contract period. The study also uncovered the highest recorded frequency of nine claims in a four year span!
"Every college student relies on technology in some capacity. From wearables and tablets to smartphones and laptops, technology has become an essential part of collegiate life," says Safeware's Chief Executive Officer, Bryan Schutjer. "We strive to help consumers understand that as we rely more heavily on these devices, we also need to prepare for what happens if a device experiences damage."
When looking at the cause of claims in this study, more than ten percent were prompted by liquid spills, and another ten percent were a result of accidental drops and falls. While nearly half of these higher education claims came from reports of accidental incidents, the other half were caused by mechanical or electrical breakdown.
College is a time of high energy, constant motion and increased stress levels. With that knowledge, it is no surprise that damage to technology occurs more frequently. As technology continues to advance and becomes more integrated into the educational process, it is important for college students and their families to understand the increased risk of damage to technology and the need to better protect devices in this setting.
Having pioneered the technology insurance industry in 1982, Safeware is now one of the most recognized names in product protection. Safeware's innovative approach to insurance and extended warranty solutions has propelled the company into multiple industries including education, corporate technology, fitness, furniture and appliances. By allowing partners to customize coverage based on their unique needs, Safeware provides best-in-class programs allowing customers to own their products with confidence.
Learn more about Safeware online at www.safeware.com or by calling 1.800.800.1492.
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