Everything You Need to Know About Insuring Your Mobile, Laptop or Tablet
With gadgets now becoming an integral part of our everyday lives with gadget ownership at an all-time high. Whether is a smartphone, a laptop or tablet most people will find they own one or more of these devices, but have they considered gadget insurance?
Accidental bumps, cracked screens, water damage, loss and theft, these are all things that can easily occur with the busy and bustling nature of modern living. To put it simply there is a multitude of ways that our gadgets can become damaged.
Many of us don’t protect our gadgets properly and are walking around without the best protection policy in place. Most people believe their home contents insurance will cover them but that is not always sufficient. Accidental damage cover isn’t always included with other types of policies, so it’s important to check the details to see what protection have.
Your home or contents insurance more than likely only covers your mobile phone and other portable gadgets when they are in your home, if they are stolen or damaged outside of your property cover may not be valid. To protect your things while out and about, you will need to add “out of home cover” or “accidental damage” to your insurance policy if your policy allows it.
Although this sounds all positive there is a downside to adding gadgets onto your home contents insurance. Often this type of policy comes with higher excess costs which can sometimes outweigh the cost of the device. Plus, a claim could lead to higher premiums when you come to renew or jeopardise your no-claims discount or bonus should you have them.
Your other option is to look at specialist gadget insurance, which is not as complicated as it sounds. With your mobile, for example, your network provider or phone retailer may offer you insurance at the point of purchase, the cost of which is just added to your monthly bill.
You can also go through dedicated gadget insurance companies. These can provide cover for either a single device or a bundle of devices under one insurance policy. For insuring multiple devices, you may even get a discount on your premiums. However, while you may think gadget insurance is the policy for you, there are a few things to consider.
There are downsides to these kinds of policies as well. Claims can be rejected if your insurer feels your gadget has been lost or damaged due to carelessness. Likewise, if the gadget is stolen while unattended. You may also not be able to insure older devices you own due to the increased risk of it malfunctioning.
So, claiming on your home insurance isn’t always the most economical way of doing things. An alternative is to take out dedicated gadget insurance.
With any gadget is always useful to have the assurance it is protected and without the proper coverage you may run into trouble should the worst happen. So, if you’re someone that relies heavily on their gadgets or a is little bit accident-prone, then gadget insurance is likely a good choice for you.