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October 12, 2016

Why buy gadget insurance?

by John_A

Why should you shell out for tech and gadget insurance? After all, you might be thinking that providing I’m super-careful and keep a watchful eye on the hundreds of pounds’ worth of phone, tablet, laptop, headphones and/or games consoles and other expensive gadgetry in my bag, there’s no need to pay out more money to cover any breakages, losses or thefts. Is there?

There are plenty of things to think about beyond the above regardless of whether you take your gadgets out into the wild or keep them snug as a bug in a rug in your home.

Dedicated cover

One of the key reasons to go for dedicated gadget insurance is because you’ll get a package that covers the specific needs and issues of that device.

While many home insurance policies will cover gadgets, you are bundling them into a bigger insurance package that covers lots of different products.

Many gadget insurance policies cover things like unauthorised usage or even e-wallet cover, something you don’t normally find with home cover. 

Cover anywhere

Home insurance is just that, it is insurance for things stolen or broken in your home. That might mean that dropping your phone down the toilet at work isn’t covered, nor may they be covered if you take your gadgets on holiday. A devoted gadget policy could be detailed to cover you wherever you are or whatever you are doing, including up to 180 days worldwide.

Manage the individual policies

If you’ve got loads of gadgets, insurance cover for each individual item would mean you’ve got the right solution for each device rather than a “catch all” approach. For example, you may be offered flexible repair options allowing you to take your Apple devices to be repaired at your local Apple store.

Avoid big excess claims

We’ve all been there. To make a claim on any insurance we have to pay the excess fee, which is essentially your contribution towards a claim. With some insurances the price of the excess is normally increased to bring down the cost of the policy premium. That’s great for when you are talking home insurance because the likelihood is that you’ll be using it to cover something or a collection of things that add up to a sizeable amount.

You might find though, that the excess you have on your home insurance far outweighs the cost of the gadget you want to claim on, especially if it is a broken screen. With standalone gadget insurance that’s unlikely to be the case and you’ll only pay an excess amount depending on the value of your gadget


When it comes to your phone, you probably use it every waking moment, and probably given half the chance you would use it while you are asleep too, it’s okay really.

Some home insurance claim systems can be lengthy, especially for smaller things, whereas a standalone gadget insurance policy should be quick and simple.

Peace of mind

Most people have the odd worry. The idea of insurance is that it can take some of those worries, box them up, and take them “off the table”. Now you don’t have to worry what happens if you lose that shiny new camera, or break that lovely new phone. If you do, the insurance is there to sort it out. Peace of mind is a great thing.

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