It's a work machine that I purchased thorugh the University account with research funds, and so it's subject to the institutional agreements with have with our various vendors, and includes loss/damage coverage with a pretty modest deductible.
But, realistically, a laptop is not very expensive. I bought the kids one, loaded, for $600 just a couple months back. That's less than my homeowners' deductible. Yes, it would suck to have to replace it, but it won't break the bank.