What is gadget insurance?
Gadget insurance is designed to protect your ‘mobile technology’ in the event that it gets damaged, lost or stolen. While a basic gadget insurance policy typically only extends to accidental damage, more comprehensive covers also include loss and theft.
Many home insurance policies only cover items while they are in the home. What’s more, they often stipulate a single item value limit. If you don’t specifically mention a gadget and its value, you may be uninsured. With the growth in mobile and wearable technology gadgets, having the right gadget insurance policy may be wise.
Having a tailored gadget cover in place means that you’re able to ensure your technology is protected, no matter whether you’re at work or away abroad on holiday. And because a specific policy like this can be tailored to your needs, you can avoid the ‘catch-all’ approach, meaning you pay for the cover you do need but don’t pay for protection you don’t.
Who needs gadget insurance?
The first thing you should do is check what cover you have in place with your home insurance policy. Then you should consider the value of your gadgets, both individually and as a whole. Think about how often you take them with you – on business trips, to work, on holiday. We can offer you advice on the cover that you need, but it’s likely that, where your home insurance policy may be inadequate, you should consider getting a specific gadget policy in place.