Is gadget insurance necessary?
Nowadays lots of us carry several expensive gadgets when we leave our homes. It could be quite costly to replace any one of them, therefore, it can be quite expensive to replace.
You can get compare quotes for gadget insurance to obtain the right cover for you.
What does gadget insurance cover?
Gadget insurance covers nearly all gadgets and handheld devices. Here are some of the devices you can cover:
- Mobile Phone
- Digital Camera
- Games Console
Should there be a gadget which you own and is not in the above list, ask your insurer about obtaining cover for that specific item.
Gadget insurance guide
What do you take with you when you leave your home in the morning? Once upon a time we all travelled light, placing our keys and a wallet or purse into our handbags or briefcases. However, those are more or less gone.
We tend to carry many more items with us nowadays, including mobile phones, laptops, iPods and so on.
Electronic gadgets have become part of the fabric of daily lives. Therefore, most of us have stopped thinking about their value.
Nonetheless, the cost for the replacement of the hi-tech equipment we carry with us could amount to hundreds if not thousands of pounds. A recent Zurich Insurance report placed our 'walking wealth' at £972.
Gadget insurance is vital in case of loss, theft or damage. We have all heard about people losing a camera when travelling, or accidentally dropping their mobile phone down the toilet or having their iPods laundered. We also hear about people getting mugged for the latest electronic equipment.
Does my contents insurance cover my gadgets?
The majority of standard contents insurance policies do not cover your walking wealth as they purely insure items when they are in your home. Certain companies will cover belongings which you carry around; however, you are likely to pay more. The insurer may also place a limit on the value of a single item.
In addition, the excess on your contents policy, the set amount you pay towards a claim, may be high.
Certain individuals prefer separate gadget insurance in order that they can protect any no claims discount on their standard contents cover.
What is covered by gadget insurance?
Gadgets insurance covers consumer electronics against damage, that is, damage due to liquid spillage, theft and loss whether or not you are at home. You are able to insure various electronic items, including:
- Mobile Phones
The majority of gadget insurance policies go along with 48-hour replacements and worldwide cover just in case you take your laptop or mobile overseas. Certain companies include mobile phone data back-up on registration, in order that should you lose your phone, you can still access all your important information.
There are some exclusions. You can invalidate the policy should you have left your gadget unattended, or fail to report a loss or theft within 12 or 24 hours, dependent on insurer.
Some companies have any age restrictions.
Certain firms do not insure gadgets should they be more than six months old. Moreover, ensure you know what the excess rules mean. The excess is the amount you will have to pay towards a claim and particular polices levy varying excesses in different circumstances. Say, the excess for theft may be lower than the excess for a lost item.
What is the cost of gadget insurance?
You can get gadget insurance from a minimal £1.50 monthly, dependent on the number of items you select to insure. It is of note that it is usually cheaper to cover more than one item on the same policy.