If you're worried about the cost of replacing your gadgets - be it your smart phone, your laptop, PDA or other high tech items -opting for gadget insurance could give you peace of mind that you're financially protected.
Here's what you need know about gadgets insurance before you buy and how to find cheap gadget insurance quotes online.
What does gadget insurance cover?
In recent years the number of gadgets that you carry around on a daily basis (and their cost) has probably increased significantly.
In response to this growing trend there is now a selection of gadget insurance policies on the market.
Essentially gadget cover is simply a type of contents insurance that is specifically designed to insure gadgets listed on the policy - these can typically include everything from smart phones and tablet computers to digital cameras and gaming consoles.
Typically gadget insurance protects your listed goods when you're out and about and at home from loss, theft, accidental damage or failure.
You may also get a gadget insurance policy specifically tailored to cover a single item, rather than multi gadget insurance policies, such as a smart phone or laptop, which offers cover solely for that item.
Do you really need separate gadget insurance?
The cost of replacing gadgets may seem quite steep so while you may feel you're in need of immediate protection, before you start you search for a gadget insurance policy you should check that your items aren't already covered by your existing insurance policies.
Many home insurance policies will include damage or theft of gadgets in your home; with some extending their cover beyond your door step so you're gadgets are protected on your travels as well.
If you already have contents insurance then it makes sense to check to what extent your gadgets are already covered as this could make a big difference as to whether it is worth considering a separate gadgets insurance policy.
If you find that your home insurance policy doesn't cover your gadgets, or stops at your front door you may be able to add your gadgets to your policy as a listed item for little or no fee, giving you the cover you need on your existing policy.
However, while this might be an easy option, contents insurance cover may be less extensive and the excesses are likely to be higher than those on specific gadget insurance policies making them a less attractive choice - so make sure you are happy with both or look for a separate gadget cover that gives you what you want.
Similarly, if you already have mobile phone insurance then consider whether it's cheaper to keep separate gadget cover alongside that, or to cover both items with a multi-gadget quote. To do this you'll need to compare mobile phone insurance against the cost of a combined gadget policy.
Is it worth the cost?
As with any insurance policy you need to weigh up whether the cost of the insurance is worth the peace of mind you get in return.
This is largely down to how much you have to pay for your insurance cover compared to the cost to replace your gadget should it be lost or damaged.
Before you sign up to any gadget insurance policy consider if you would be better off saving the money from the insurance premium in case you need to replace your items or if the cover you need is value for money.
However, if you have an expensive gadget and couldn't afford to replace it were it to break or be stolen you could find yourself out of pocket.
What do you need from a gadget insurance policy?
If you've decided to look for separate gadget insurance, knowing what you need from your gadget cover before you compare insurance quotes will ensure that you compare like for like. This makes it easier to find the gadget insurance quotes that are most suited to the type of cover you need so you get the best deal overall.
Most gadget insurance policies will include theft, breakdown and accidental damage as standard. Some will also cover you for loss and overseas use at no extra charge, while others will charge you extra to include this cover. Consider whether you need this extra protection and factor in any additional costs when you begin your search.
You should also check how much excess you would be required to pay should you need to make a claim on the policy.
While some policies quote very low premiums, if they come with a high insurance excess you could find it very expensive to make a claim if you need to. You should look for the policy that combines the best cover, an affordable excess and a cheap quote.
Another feature worth checking when you're looking for a gadget insurance policy is whether the insurer will replace your gadget with a brand new version if you need to make a claim, or instead offer you a refurbished item as a replacement or pay you the current market value of your second hand gadget. Consider which option you would prefer and look for a policy that suits.
Once you've decided which gadgets you need cover for and what type of cover you need the next step is to look for cheap gadget insurance quotes offering suitable cover.
Remember for gadget insurance compare not only the price of each quote but the cover provided by each gadget insurance policy as standard so that you don't incur any additional costs.
You can use our gadget insurance comparison table to compare gadget insurance providers side by side and to get quotes directly from the insurers so you can be confident you find the best deal.
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