Most money savvy consumers either have mobile phone insurance, or have made a considered decision not to invest in it because they are prepared to swallow the risk of having to buy a new phone, instead of having the extra monthly cost. However, what a lot of people don’t consider is the other highly valuable technology they regularly take outside of their homes, including when they go abroad.
With more and more technical equipment becoming an everyday part of our lives, it can actually be quite hard to stay on top of exactly what you have and what it is worth, particularly when you are considering the devices of an entire household. This is why it is worth taking stock of the potential cost of replacing all of your gadgets if something happened to them, and making sure everything is adequately covered.
What Sort of Devices Does Your Family Use?
As well as smart phones, think about how many of the following there are within your household:
- iPads, and other tablets
- Laptop computers
- Kindles, or other eBook readers
- iPods, and other MP3 players
- Digital cameras and video cameras
- Sat nav and GPS devices
- Portable DVD players
- Sony PSPs, Nintendo 3DS, and other portable games consoles
You may also want to think about expensive accessories you may have bought for these, for example if you regularly take out valuable headphones or tablet keyboard accessories.
These devices are all designed to be used on a portable basis, so if your family are using them outside of the home, whether it’s on the train, in the car, at school, at work or on a night out, you need to make sure you have a plan in place if they get stolen, lost or broken. This may just be deciding that you can afford to replace them, or could live without them for a while, but for some items insurance may be essential to you.
Gadget Insurance Options
The first option you have is to cover these items on your home insurance. Check your policy to see what you need to do to cover things that will be used outside of the insured property. You will probably have to name the items you want to be covered, so make sure you do this and keep the list up to date when you upgrade or buy new things.
Your home insurance may or may not cover the items when you take them abroad, so this is something you should also consider when buying travel insurance.
Home insurance may not offer the level of cover you want for some of your items, for example it may have a high excess that equates to the value of one or two of your devices. It may also be too costly in terms of losing your no claims bonus to make it worth claiming for one stolen Kindle or lost iPod. For these reasons, many people opt for specialist gadget insurance. These policies allow you to insure your gadgets with a low excess, and also offer fast replacements or repairs on those vital items.
Laura Ginn is a professional blogger who covers a lot of financial, insurance and consumer rights topics. She is also an avid tech user who needs to keep track of all her gadgets and IT accessories.
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