Compare Gadget Insurance

Gadgets have become a fundamental part of the daily lives of many people. Most can’t remember how they functioned without their mobile phone by their side, the ability to listen to music on-the-go, or the ease of capturing those special moments wherever you are. 71% of UK adults now own a smartphone, and 54% of homes own a tablet device.

Gadgets, unlike many other appliances, are becoming more expensive due to the rapid improvement of technology. The often-sudden breakdown of these devices can be not only hard to adjust to but also a costly encounter. Having insurance can get you back up and running in no time, at barely any extra cost to you.

Gadgets can be replaced or repaired, but it is often the content on them that is the most valuable aspect to most owners and indeed what many people are most worried about losing.

Invest in hardware which will back up your photos, films, music and data in case you suddenly find yourself having lost everything.

Which Gadgets Can Be Covered?

The term ‘gadgets’ is a broad one, but mostly refers to any small electronic device you may own which is rechargeable and portable. They aren’t officially classed as everyday essentials, but for some, they do fit under this category. We compare cover for:

Cameras – including DSLR, Mirrorless, lenses and Instant Cameras
Camcorders – including Go Pros, Sat Navs, Dash Cams and Drones
Tablets – including eReaders, Kindles and iPads
Games Consoles – including Xbox, PlayStation, Nintendo
Smart Watches – including Apple Watch, Health and Fitness trackers
MP3 Players – including iPods and Walkman’s
Smart Speakers – including Google Home and Amazon Alexa
Wireless over-ear Headphones
Laptops

What About Mobile Phones?

Mobile phone insurance can be entirely different to ordinary gadget insurance, despite offering the same care. They’re the most likely devices to be consistently at our side and therefore are the most feasible for us to misplace or damage (especially if you are prone to leaving things behind while you rush from one place to another, or to overdoing it on a night out). Smartphones are also the most likely gadgets to be stolen, with incidents in the hundreds of thousands every year.

Furthermore, they are complicated little machines internally and do several things at once, so the scope of things to go wrong with them is often far higher than with other gadgets. Research shows that 1 in 3 smartphones breakdown while still on contract. If you are locked into a two-year contract, you may have to carry on paying this off if you don’t have insurance, even if you no longer have the phone. Replacement phones can be added to existing contracts, so you don’t have to pay your old one off before you even think about getting a new one.

Unlike many other insurance policies, the cost of cover will not increase no matter how many times you claim. So, whether you grasp onto your phone wherever you go and never let it out of your sight, or are a bit scatter-brained, you will pay the same rate.

There are a lot of dedicated mobile insurance policies out there – meaning the rivalry is high (and the deals are competitive). Most contract providers and manufacturers have plans, with the cost added on to your monthly contract. You will be offered this hassle-free option when purchasing your phone, but shop around beforehand for the best deal and don’t be pressured into signing anything.

The majority of smartphone owners have probably suffered from a cracked screen which affects the device’s functions, and it is the most common breakdown issue with mobiles. If this is the case, yours can usually be replaced by an official engineer ASAP, so there’s no need to fork out for a brand-new device or struggle to use it for the next few months.

Appliance insurance doesn’t usually cover any costs that have come as a result of your product breaking down. However, if your mobile phone is lost or stolen, the cost of any unauthorised calls, messages or downloads made from it after the time it was reported missing can often be covered, so you’re not obliged to pay for anything you didn’t buy. Any purchases made from an e-wallet via your gadget may also be included.

Phones have to be reported lost or stolen within 24 hours, or possibly even 12 hours with some providers. The police also need to informed to avoid any difficulties when claiming.

There are also many multi-appliance policies out there which can include your phone under the plan, making life more comfortable (and possibly cheaper). The following article provides information on plans which are both dedicated to and incorporate mobile phones.

Benefits of Insuring Your Gadget

Gadgets and gizmos are generally expensive due to their technological nature. There is little chance that if your laptop or camera broke down tomorrow, you would be able to go out and purchase a new one immediately or even afford to get it repaired. Insurance will take care of this for you, without you having to spend too much money.

The specific benefits of your insurance depend not only on your particular policy but also what exactly your gadget is. They are often sophisticated machines, and there isn’t always ‘parts’ that can be fixed as would be the case in larger white goods and kitchen appliances, for example. Engineers and technicians will try to fix your electronic gadget for you, or in more cases than not will replace the item for you (possibly charging excess).

The aftercare which you receive will depend on which insurance provider you are with, which retailer you purchased the item from and which company made your device. However, with insurance, you are likely to be put in touch with a dedicated engineer who can accurately fix your machine.

What Will My Gadget Insurance Policy Cover?

Every insurance plan is different, so the following points are only a general guide. As with all appliances, your gadget insurance will cover your item for breakdown cover. They can, unfortunately, have a habit of dying on us, so this will take care of its revival and technical support, hopefully getting it back up and running as good as new. If there are any parts to your device which need replacing, an engineer will be able to do this and the cost will likely be covered by insurance.

Gadget insurance is also more likely to offer you a like-for-like replacement should your gadget be faulty/broken, acting as an extended warranty beyond the manufacturer’s guarantee. There is usually a short time limit on this, so many insurance providers will offer to replace your item within 48 hours, for example.

It is also likely to cover you for accidental damage, which large appliance insurance may be unlikely to do. Ever accidentally spilt your drink on your laptop or games console, or dropped your smartwatch or camera in a pool of water? Cover will provide expert care, saving you from pleading it thoroughly dries out or having to pop it in a bag of rice overnight. Most would cover you if the damage occurred outside your home.

Due to the portable nature of many of your gadgets, many insurance plans will cover your device for theft and loss. This can be inside or outside your home or even when you’re on holiday worldwide, acting as travel insurance for your device.

Are There Any Incidents Not Covered?

If you lost your mobile phone or other device and it has been used to pay for services, such as shopping through an e-wallet or phone calls and texts, you may not be covered if you didn’t take the relevant steps to prevent this happening, such as setting up a pin.

Misuse of the product may also not be covered. If your gadget became damaged by not following manufacturer’s instructions or not taking proper care of it, you may be deemed to have caused the damage maliciously.

If you use your device for professional use, you may have to get dedicated insurance which covers this. So, a photographer would possibly need to ensure their policy covers their device for any loss or breakages when they are working away from their home address or covers them for an official work address. The same goes for work phones and laptops, etc. As the products are vital for work purposes, they will often urgently arrange help or a replacement device and will cover more expensive professional high-end items.

Check a possible insurance plan for any limitations such as age restrictions and brand exclusions. If your device is over three years old, specific policies may not accept to cover it, nor if it is a brand such as Apple (whose products are expensive and also have a dedicated team of engineers). Most insurance companies only allow you to take out a brand-new policy if the phone is under six months old. Watch out for the age of the primary owner, too; anyone under 16 is unlikely to be protected.

Think about what exact cover you would like. Some basic policies may not cover against loss or theft if they occurred outside of the home, so if you are prone to losing anything while on-the-go, making sure you get a policy which covers you for this is essential – even if you have to pay a bit more per month.

FAQs

Is Gadget Insurance Worthwhile?

Your gadgets probably cost hundreds of pounds. While they aren’t necessarily essential appliances, they often make your life a whole lot easier. Depending on your particular insurance plan, you will be able to have your device repaired or replaced in no time with insurance. Most costs will also be covered, so you don’t have to pay extra or purchase a new item.

How Much Does Gadget Insurance Cost?

You may be able to insure several devices under one policy, which is particularly relevant if you have a full household and everybody has individual mobile phones/laptops/tablets. Multi-appliance insurance is available for a set monthly/annual price and will give you peace of mind that everything is covered. The cost of such cover can wildly vary, so shop around for the best option for you.

There may only be a difference of a pound or two per month between having coverage for loss and theft or not. They’re possibly the two most likely things to happen to your device, particularly if it is a mobile phone, so if you want to be protected for this look into the more substantial plans.

Does My Home or Contents Insurance Cover My Devices?

Home insurance may already offer protection for your gadgets against theft and damage. As standard, it will protect against flood or fire damage should you incur this. Read your terms and conditions to make sure before you take out another separate policy which technically gives you the same cover.

Contents cover might be less likely to protect you against theft, damage and loss if it occurred outside of your home. As you are most likely to experience these unpleasant incidents while you are out and about, it is probably worth getting an additional cover which takes care of these problems before they arise.

However, even if home insurance does cover you, think about your no-claims bonus and any other perks which you may hold. You are probably more likely to be affected by gadget theft/loss than fire or flood and claiming may mean higher premiums for you. The excess which your home insurer charges may even be higher than the original cost of your item.

If you are in a house share, home insurance premiums will likely increase for everybody if one individual claims for their gadgets, so it is worth making sure everybody knows this and takes the appropriate steps to get personal care.

Most home insurers also only allow devices which cost under £1000 to be included on their policies, and if you have a top-of-the-range phone or laptop it probably cost over this limit, so look into dedicated cover.

Am I Covered by Anything Else?

Current accounts, packaged bank accounts, premium credit card contracts and travel insurance may protect your gadgets, depending on the exact plan.

The former two sometimes offer cover for your home and contents in return for a regular fee. Most banks and building societies provide these, so if you have one, check the terms and conditions to see if your gadgets would be protected. Try to work out whether it would be cheaper to switch your bank account or take out protection separately.

Credit card contracts may work similarly, charging an annual fee or requiring an exceptional credit history to take one out. The benefits which they offer can vary wildly, so if it is insurance you are after you may be very limited in which one you can take out.

Travel insurance will probably cover you for any theft and loss if you are out of the country. It could mean that you don’t have to get an annual policy which covers you for worldwide use, therefore saving you money. Check the small print before you take it out, though; some cheaper plans only protect you for the basics concerning your health and airline/tour operator delays. Claims will also likely be invalidated if you lost your item due to negligence or having had one too many Sangrias.

Can I Get Student Cover?

If you live in halls of residence, you may have small appliance insurance already. It can come as standard with some contracts, depending on your university or accommodation company.

Insurance companies know that laptops and mobile phones are vital to students with deadlines approaching, so getting a replacement or repairman to you ASAP is essential.

If you aren’t covered, consider taking one out. Even if you are covered, it may only provide the most basic of care, so look into boosting your plan up to a more substantial care package.

Is a Single- or Multi-Device Policy Best for Me?

This depends on your particular gadget. Most of the plans available do allow you to insure multiple devices, which is a lot easier to manage. If you are offered the chance to guarantee all your gadgets on one policy, take a look into whether this affects your maximum cover amount, excess charges and which incidents are covered. Make sure your particular item can be included in your plan. Some may not provide cover for specific electronics or brands.

You may also be offered single-appliance insurance from the retailer or manufacturer when you purchase your gadget. This may be the best option if you don’t have any other gadgets in your home which you would like to insure, or if you know your new product wouldn’t be covered under any existing plans.

For example, if you purchase a mobile phone, the contract provider may offer insurance for around £5 per month which covers absolutely everything that could go wrong with your single device. They also often have dedicated care teams both online and over the phone which you can contact ASAP, and you have the option to pop into your local store and talk to someone there in person. Policies are often dependent on the value of your handset.

But still, shop around first. You may find that taking out a multi-gadget policy works out at just the same price for the same cover, but also protects your computer, headphones and smartwatch. You could even cover your white kitchen goods under the same plan for a similar price.