Having seen the queues at the Apple Store whilst doing my Christmas shopping, I’m sure that the iPhone, iPad and iPod will be amongst the most popular Christmas presents.
The question then arises, how best do you now insure your gadgets?
This is particularly relevant where children were the lucky recipient of gadgets from Santa. I can speak from personal experience that children have a habit of damaging or losing their gadgets or a regular basis!
There are two options to insure your gadgets.
Option 1 – Insure Your Gadgets under your home insurance
If you have personal belongings cover under your home insurance it is highly likely that you will not need to specify your gadgets as the policy will automatically insure your gadgets without need to specify or pay an additional premium.
This disadvantage is that your excess would be deducted from any settlement and it is likely that the excess to insure your gadgets will be between £100 & £250.
Option 2 – Insure Your Gadgets under a separate Individual Gadget Policy
This is becoming an increasing popular way of to insure your gadgets as the headline premium charge is extremely low, however beware the small print!
- Separate Insure your gadgets policies are written on a second hand replacement value basis and NOT new for old as you would see on a home contents policy.
- Separate Insure your gadgets policies have stringent time lines for reporting theft or loss to your airtime providers and the police.
- Separate Insure your gadgets policies exclude theft when unattended and away from your home. Unattended meaning when not within your sight at all times and out of arms reach.
There is no definitive answer to the best way to insure your gadgets however as independent insurance brokers we can help you weigh up the options taking into account your present cover and excess under your home insurance, the number of gadgets you own and your perceived risk to loss. And if you have plans to travel abroad with your gadgets then you also need to consider is travel insurance necessary or whether your gadgets can be protected under one of the insurances specified above.
To discuss how best to insure your gadgets and you specific requirements please call us on 01489 579808 or contact us via our web form and we will call you back.
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