Consumers who are looking to take out insurance for gadgets such as smartphones and tablets must read terms and conditions thoroughly before taking out a policy.
According to independent financial research firm Defaqto, specialist gadget insurance has seen a rise in demand in recent times and more variation is being offered when it comes to protection.
The company stated that although nearly all (98 per cent) of policies cover theft, if a gadget has been stolen from a vehicle only 67 per cent of them will provide insurance for incidents involving all kinds of vehicles, while only 21 per cent cover an item that is taken from a commercial vehicle or convertible car.
Mike Powell, Defaqto’s insight analyst for general insurance, said because of facts like this it is essential that people research the insurance available to them.
“Be aware of the policy restrictions and excesses that are applicable, as these can vary depending on the gadget insured,” he recommended.
This comes after the Telegraph reported the Financial Ombudsman Service recently revealed it has seen a “significant rise” in the number of complaints about mobile phone insurance.