These days the average home is not complete without a computer and a high-definition TV. Increasingly, gadgets are becoming personal must haves as well – whether it’s a laptop, a smart phone or an MP3 player. With all these gadgets now in our possession, losing any of them could be a nightmare; both in terms of cost and time spent to replace the item. While some home insurance policies will cover gadgets, not all do and some people prefer to take out specific gadget insurance for their electronic goods.
While gadget insurances vary, the general rule is that a standard policy will cover up to five standard gadgets, including nav sats and gaming devices.
People take out insurance on their gadgets because, although their strength is their portability, that too is their weakness. An iPod can easily be left on a bus while a PDA can easily be taken out of a handbag by an opportunistic thief. Gadget insurance will often cover these eventualities and also takes into account many technical difficulties as well.
One of the main discrepancies between insurance providers is the gadgets that will be covered. Latest model iPhones and more expensive laptops often need even more specialised cover or an increased monthly charge.
As with any kind of insurance, the biggest consideration to make is whether the monthly charges make sense when you compare them to the price you would have to pay to replace your items if you didn’t have a gadget insurance policy in place.