There are an increasing number of specialist gadget insurance companies and policies on offer, each with different cover options and policy features to insure your devices against theft, loss, accidental damage and even breakdown.
Below we will outline the best options available to insure your gadgets, and provide more information about gadget insurance.
Are you already insured under your home insurance?
Some home and contents insurance policies often includes your gadgets, which means things like your phone, tablet and tablet may already be covered for theft from the house. If accidental damage is included on your contents policy then your devices may also already be covered for any accidental damage sustained while at home.
It’s important to check with your home insurance provider first to make sure you’re not paying out for the same cover twice. This is also true if you have a packaged bank account as many of them offer things like mobile phone insurance – so double-check first before you go any further into looking at specialist gadget insurance.
Even if you do have cover under your home insurance policy, your gadgets won’t be protected while you’re out and about unless you have taken out additional personal possessions cover. You may think that this is a cheaper option than dedicated gadget insurance but be careful, the cheap additional extra cost also comes with a much higher excess than you would have with a specialist gadget insurance policy. Also, if you have to make a claim you will lose the no-claims discount you have building up on your home insurance.
Top 10 gadget insurance policies
Below we’ve listed the best gadget insurance companies based on what they offer and their customer reviews (taken from TrustPilot and Reviews.co.uk).
|Row||Optional||£25 – £80||4.5/5|
|Loveit Coverit||Yes||£25 – £50||4/5|
|Protect Your Bubble||Optional||£50 – £100||4/5|
|Cover Cloud||Yes||£50 – £100||3/5|
|Switched On||Yes||£25 – £150||3/5|
|Leisure Guard||Yes||£25 – £50||3/5|
|Gadget Cover||Optional||£50 – £75||3/5|
|i-Digital||Yes||£25 – £50||3/5|
|Trusted Insurances||Yes||£25 – £100||3/5|
Common gadget insurance exclusions to be aware of
Many gadget insurance providers have come in for criticism recently for having exclusions in their policy that customers thought would have been included – and only finding out the cover wasn’t there when they came to put in a claim.
As with all insurance policies, it is important that you read the small print carefully before committing to anything so you know exactly what you are covered for.
Below we have identified some of the most common exclusions and qualifications in gadget insurance policies:
Theft – This comes pretty much as standard in all gadget insurance policies, and you may assume that all situations of theft are covered. However, some insurers specify that your gadget must have been taken by force for it to qualify for a claim. So if you leave your laptop on a table while you go to the toilet in a cafe, or have your phone pickpocketed at a train station that it may not be covered.
Reasonable care – Some gadget insurers might refuse your claim if it is shown that you didn’t take ‘reasonable care’ to avoid losing your device. This could mean you leaving it on a train, for example. Make sure you check your policy documents for what is covered under ‘loss’.
Age of gadget – Most insurance companies have limits on the age of the gadgets they are willing to insure, with some refusing to offer cover for anything more than a year old.
Proof of purchase – If you have to make a claim on your policy your insurance company will want to see proof of purchase i.e. a receipt. This pretty much rules out second-hand devices in terms of getting cover, and will also make it difficult if you lose your receipt.
Police report – Some gadget insurance companies state that you should tell the police within a certain time period (usually 24 hours) if your device is lost or stolen. For some insurers this can be as little as 12 hours, and if you miss the deadline you could end up having your claim refused so make sure you know exactly what you need to do in the event of a claim.
Water damage – Don’t assume that your policy includes water damage as part of the accidental damage cover, as some don’t.