As used in this article, unless the context requires a different meaning: “Covered customer” means a customer who elects coverage under a portable electronics insurance policy issued to a vendor of portable electronics. “Customer” means a person who purchases portable electronics or services. “Portable electronics” means electronic devices that are portable in nature, accessories to such devices, and services related to the use of the devices. “Portable electronics insurance” means insurance providing coverage for the repair or replacement of portable electronics that may cover portable electronics against any one or more of the following causes of loss: loss, theft, mechanical failure, malfunction, damage, or other applicable peril. “Portable electronics insurance” does not include: (i) an extended service contract governed by Chapter 34 (§ 59.1-435 et seq.) of Title 59.1; (ii) a policy of insurance covering a seller’s or a manufacturer’s obligations under a warranty; or (iii) a homeowner’s, renter’s, private passenger automobile, commercial multi-peril, or similar policy. “Portable electronics transaction” means (i) the sale or lease of portable electronics by a vendor to a customer or (ii) the sale of a service related to the use of portable electronics by a vendor to a customer. “Vendor” means a person in the business of engaging in portable electronics transactions directly or indirectly.