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Portable Electronics

Portable electronics insurance is insurance that provides coverage for the repair or replacement of portable electronics. This includes coverage for loss, theft, inoperability due to mechanical failure, malfunction, damage, or other similar causes of loss.

Resident and non-resident business entities may hold a Portable Electronics license.

Idaho Code

Idaho Statutes, Title 41: Chapter 10, §41-1082 through 41-1089, with updates to Title 41: Chapter 11, §41-1102 of the Adjusters code.

Definitions

Portable Electronics: Electronic devices that are portable in nature, their accessories and services related to the use of the device.

Portable Electronics Insurance: Insurance covering the repair or replacement of portable electronics. Such insurance may provide coverage for portable electronics against loss, theft and inoperability due to mechanical failure, malfunction, damage and other similar loss.

The term does not include the following:

  • A service contract or extended warranty that provides coverage for repair, replacement, or maintenance only to address operational or structural failure caused by:
  • a defect in materials or workmanship;
  • accidental damage from power surge; or
  • normal wear and tear.
  • A policy of insurance that covers a seller’s or manufacturer’s obligations under a warranty.
  • Any of the following:
  • A homeowner’s insurance policy
  • A renter’s insurance policy
  • A private passenger automobile insurance policy
  • A commercial multi-peril insurance policy
  • An insurance policy that provides coverage similar to the insurance provided by a policy described in clauses a) through d).

Supervising Entity: A supervising entity means a business entity that is either an insurer or insurance producer that is licensed and issues – or is appointed by the insurer that issues – a portable electronics insurance policy that is sold, solicited, or negotiated by a vendor to supervise the activities of the vendor related to the portable electronics insurance policy.

Vendor: A business entity engaging in the business of portable electronics transactions directly or indirectly.

Designated Responsible Person (DRP): The DRP is a person designated by the entity to be responsible for the compliance of the entity with the laws and rules of Idaho.

For a full list of insurance licensing terms please click here.

License Requirements

Only the vendor is required to hold the license. Individual employees of that vendor are not subject to licensure; however, they may not hold themselves out to be limited lines or other licensed insurance producers.

Employees must receive training on the protection afforded under the policy including, but not limited to, basic instruction about the portable electronics insurance offered. Vendor must provide the syllabus for the training program that is developed by the supervising entity or the insurer issuing the portable electronics insurance to the vendor. Training records must be made available immediately upon request for inspection by the Department.

Vendor must maintain a list of the locations authorized to sell or solicit insurance coverage under their Portable Electronics license.

Nonresident business entities whose domicile state does not offer a portable electronics limited lines portable electronics license after July 1, 2014, shall be required to obtain a separate Property and Casualty license under Title 41, Chapter 10, or the license shall terminate in Idaho.

How to Apply

Resident Application Checklist

  • Completed application. Online applications are accepted through either NIPR.
  • Designated Responsible Person (licensure not required) who will be responsible for licensing compliance.
  • Syllabus for training program.
  • Carrier appointment is required prior to doing business (but does not have to be submitted with application).
  • The licensing fee is determined by the number of retail locations acting under said license. PLEASE BE SURE TO CHOOSE THE CORRECT LICENSE TYPE.
    • SMALL PORTABLE ELECTRONICS= 10 or fewer locations: Non-Refundable application fee of $100.
    • LARGE PORTABLE ELECTRONICS= internet sales or 11 or more locations*: Non-Refundable application fee of $1,000.

Non-Resident Application Checklist

  • Non-resident entities whose home state does not license Portable Electronics, a paper application will be required.
  • Designated Responsible Person (licensure not required) who will be responsible for licensing compliance.
  • Syllabus for training program.
  • Carrier appointment is required prior to doing business (but does not have to be submitted with application).
  • The licensing fee is determined by the number of retail locations acting under said license. PLEASE BE SURE TO CHOOSE THE CORRECT LICENSE TYPE.
    • SMALL PORTABLE ELECTRONICS= 10 or fewer locations: Non-Refundable application fee of $100.
    • LARGE PORTABLE ELECTRONICS= internet sales or 11 or more locations*: Non-Refundable application fee of $1,000.

The completed application and attachments should be mailed to:

Idaho Department of Insurance
700 W State Street, 3rd Floor
PO Box 83720

* If the number of retail outlets exceeds 10 or internet sales is added after licensing, reapply for the Large Portable Electronic License rather than attempting to renew a Small Portable Electronics License.

Renewal Information

The Department considers the renewal of a license to be the responsibility of the licensee.

Licenses are valid for 24 months (2 years) and will expire on the last day of the month it was originally issued.

License renewal is available online via NIPR .

Late renewals, previously referred to as reinstatements, are available up to one year past the expiration of the license via NIPR

If more than one year has passed since the expiration of a license it can no longer be re-instated. After one year a new license will need to be applied for, including fingerprinting and testing.

Renewal Instructions

Resident

Step 1. Apply for a renewal online via NIPR. There is a non-refundable renewal fee. The renewal fee is determined by the number of locations acting under said license.

  • 10 or fewer locations: Non-Refundable renewal fee of $100
  • 11 or more locations: Non-Refundable renewal fee of $500

Non-Resident

Step 1: Have an active resident license with the lines of authority listed on the Idaho license.

Step 2: Apply for a renewal online via NIPR. There is a non-refundable renewal fee. The renewal fee is determined by the number of locations acting under said license.

  • 10 or fewer locations: Non-Refundable renewal fee of $100
  • 11 or more locations: Non-Refundable renewal fee of $500
Late Renewal

Resident

Step 1. Apply for a renewal online via NIPR. There is a non-refundable renewal fee. The renewal fee is determined by the number of locations acting under said license.

  • 10 or fewer locations: Non-Refundable renewal fee of $200
  • 11 or more locations: Non-Refundable renewal fee of $1000

Non-Resident

Step 1: Have an active resident license with the lines of authority listed on the Idaho license.

Step 2: Apply for a renewal online via NIPR. There is a non-refundable renewal fee. The renewal fee is determined by the number of locations acting under said license.

  • 10 or fewer locations: Non-Refundable renewal fee of $200
  • 11 or more locations: Non-Refundable renewal fee of $1000

Reporting of Actions

All producers and agencies have a duty to report any criminal or administrative actions to the Idaho Department of Insurance within 30 days per §41-5819

The Department encourages producers to use the NIPR Reporting of Actions Warehouse at www.nipr.com as a convenient means to post their documents and explanations to report to any state in which they are licensed.

FAQ

Does the vendor need to provide a list of locations to the DOI?

No. The vendor must maintain a registry of authorized locations and provide such list if requested by the DOI.

Is Idaho reciprocal?

Yes. Non-residents will be licensed based on reciprocity with entity’s home state license.

How must compensation be paid?

Compensation is paid directly to the vendor.

Can individuals hold a Portable Electronics Limited Lines Producer License?

No, Idaho only issues Portable Electronics Limited Lines licenses to business entities. Employees of a licensed entity are covered under the entity license.

Do individuals processing automated Portable Electronics insurance claims need to be licensed as adjusters in Idaho?

No, not if they are using an automated claims adjudication system.

Have more questions?
Contact the Licensing Team

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