Gadget Or Laptop insurance covers the cost of repairing or replacing your gadgets if they are lost, damaged, or stolen, and gadget insurance includes items such as your mobile phone, laptop, and fitness tracker.
Many of these gadgets are quite expensive. Could you afford to replace them in the event of an accident? If the answer is no, you should probably think about getting gadget Or Laptop insurance. Gadget insurance can cover items such as:
- GPS navigation
- Digital Camera
- Fitness tracker
- Games console
Is Gadget or laptop insurance required?
This is entirely dependent on the gadgets you own and your proclivity for mishaps. A good place to start is to calculate the value of your gadgets and decide whether it’s worthwhile to purchase dedicated coverage. If replacing the items you own would be prohibitively expensive, gadget Or Laptop insurance is probably worth considering.
You may have limited coverage under an existing policy, such as contents or travel insurance, but you must determine whether it is adequate. Remember that if you make a claim on these policies, you must pay an excess, which can be much higher than on a gadget policy. See 10 Best Mobile Insurance Companies In 2022 – Techlion.
Indeed, a relatively high excess on a contents policy, for example, may indicate that it is not worthwhile to make a claim for a lower-cost gadget.
Some policies do not allow you to make a claim until a certain amount of time has passed since you purchased the coverage (such as 14 days). Each policy is unique, so double-check before you buy.
What is covered by gadget Or Laptop insurance?
Some standalone gadget Or Laptop insurance policies will provide a like-for-like replacement within 24 hours, so if your business is reliant on your phone or gadget or you simply can’t function without it, this is something to look out for in your policy.
If you come from a tech-obsessed family, you can get a policy that covers all of the household’s gadgets under one umbrella policy.
Each policy is unique, but most insurers will cover you for the following:
- Theft: Gadgets can be expensive and thus appealing to thieves; purchasing coverage will protect you in the event that your gadget is stolen.
- Loss: Misplacing a gadget or laptop while on the go is common; gadget or laptop insurance should protect you if you lose yours.
- Accidental damage: Have you dropped your phone and cracked the screen? Accidental damage coverage will assist in the purchase of a new one.
- Mechanical failure: If your warranty expires and your device dies, or if it is damaged by liquid, you will be covered.
How much does it cost to insure my electronics?
The cost of gadget Or Laptop insurance varies depending on the number of items you want to insure, their model, and the level of coverage you select. The more gadgets you insure, the less expensive your insurance will be, but most people only insure one.
According to our customer data, 84% of people insure only one device, 11% insure two devices, 3% insure three devices, and only 2% insure four or more.
Which of the following is the most commonly insured device?
Smashed screens and water damage are common occurrences in phone repair shops across the country because most people carry their phone with them everywhere. As a result, it’s no surprise that phones are the most commonly insured gadget.
There are some limitations to consider when considering how gadget Or Laptop insurance can protect your phone or laptop. Some insurers, for example, will not insure a phone that is more than six months old, whereas others will happily insure phones that are two years old. And you’re unlikely to find insurance if you bought your phone used.
You must have proof of purchase to obtain mobile gadget Or Laptop insurance, but even then, most insurers will not cover a phone purchased outside the UK. It’s always a good idea to double-check your policy documents to ensure you’re adequately covered.
Frequently Asked Questions
What exactly is gadget insurance?
There are numerous policy options to consider. You can protect a single item, such as your iPhone, or you can purchase more comprehensive household policies that cover a wide range of devices. There are also policies available that cover all of the family’s electronics under a single umbrella policy.
I got my gadget used. Can I still get insurance?
No, items must be brand new and purchased from a manufacturer, network provider, or other high street or online retailer. Refurbished devices or those purchased from outlets or similar stores are not covered.
I purchased gadget insurance and now need to file a claim. What should I do?
If it has been stolen, you must immediately notify the police and obtain a crime reference number. Then, as soon as possible, contact your insurer and file your claim. Keep all receipts as proof of purchase is required for any successful claim.
Should I buy gadget insurance because I can’t live without my phone?
The majority of people who own a phone literally carry it with them everywhere. If you are concerned about losing or damaging your phone, it may be worthwhile to purchase gadget insurance.
When it comes to phone insurance, there are several factors to consider. Some policies do not cover phones older than six months, while others do. You’ll also need proof of purchase to get gadget insurance, but you’re unlikely to get coverage if you didn’t buy it in the UK.