There’s nothing quite like the gut-wrenching feeling you get when you shatter a gadget screen or drop your phone into a sink full of water. Best case scenario, you are a little inconvenienced by not having your e-reader for a few days whilst it is repaired; worst case you are left with a broken gadget that you can’t hope to repair or replace anytime soon.
Gadget insurance is a relatively cheap policy which can be used to protect a single or several gadgets. Here’s how it could help you.
Does anyone really need a gadget insurance policy?
Gadget insurance isn’t a policy that everyone will need. In some cases, your home insurance will extend some protection to your gadgets whilst you are out and about. In others, you might be too careful with your gadgets to necessitate an insurance policy – but as we all know, accidents will happen.
When considering a gadget policy, you should ask yourself:
- Can I afford to replace my items if I lose or break them?
- Are my gadgets still under their manufacturer warranty?
- Have I lost or damaged my gadgets in the past?
Well, what’s included?
The main benefit of gadget insurance is that there are only two types, single gadget and multiple gadget covers. That means there’s no need to shop around for specialist cover for your precious electronic devices; instead, you can protect specific gadgets or several gadgets with one policy.
Depending on the insurer, a gadget policy can be used to protect items such as:
- Camcorder
- Digital camera
- E-reader (eg, Kindle)
- Fitness tracker
- Headphones
- Laptop
- MP3 music player (eg, iPod)
- Personal digital assistant (PDA)
- Portable DVD/Blu-ray player
- Portable games console
- Sat-nav
- Smartwatch
- Tablet
The risk that you are covered against will vary depending on the insurer. Usually, it will cover you against theft, loss, mechanical breakdown, accidental damage, liquid damage and in some cases cover when you’re abroad.
Depending on the insurer you may need to pay extra for certain covers such as loss or global cover.
The appeal of gadget insurance will depend on the type of person you are. If you are constantly losing or breaking devices all the time or if you are dependent on a certain device, then a gadget policy will probably save you a good deal of money.