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Gadget & Mobile Phone Insurance

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In partnership with Comparison Creator

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What is gadget insurance?

Gadget insurance covers the cost of repairing or replacing your gadgets if they are lost, damaged or stolen, the things you use without a second thought every single day, including your mobile phone, laptop and fitness tracker. 

Many of these gadgets cost a lot of money. Could you afford to replace them if something were to happen? If the answer is no, you should probably consider gadget insurance. Gadget insurance can protect items like:

 

Do I need gadget insurance?

This will really depend on the gadgets you own and whether you’re accident prone. A good place to start is to work out the value of your gadgets and weigh up whether it’s worth taking out dedicated cover. If it would cost a lot to replace the items you own, gadget insurance is probably worth considering.

You might have limited cover through an existing policy, such as contents or travel insurance, but you’ll need to check whether it’s adequate. And don’t forget that you have to pay an excess on these policies if you make a claim - and the excess here can be much higher than on a gadget policy.

Indeed, the relatively high excess on a contents policy, say, might mean it’s not worth making a claim for a lower-cost gadget. 

With some policies, you can’t claim until a certain time period has elapsed after buying the cover (such as 14 days). Each policy is different, so check before you buy.

What are the most common claim types?

  • Damaged screen icon

    Damaged Screen

  • Liquid Damage

  • Theft

  • question marker icon

    Loss

What does gadget insurance cover?

Some standalone gadget insurance policies will offer a like-for-like replacement in 24 hours so, if your business is dependent on your phone or gadget or you really can’t function without it, this might be something to look out for within your cover.

If you belong to a family of tech addicts you can take out a policy that covers all the household’s gadgets under one umbrella policy.

Each policy will be different, but most insurers will cover you for:

  • Theft: Gadgets can be expensive and thus very appealing to thieves, getting cover will protect you in case your gadget is stolen
  • Loss: Misplacing a gadget whilst on the move is commonplace, gadget insurance should protect you if you lose yours
  • Accidental damage: Dropped your phone and have a cracked screen? Accidental damage cover will help pay for a new one
  • Mechanical failure: If your warranty runs out and your gadget dies, or if your device is damaged as a result of liquid, you’ll be protected

1Data collected by Comparison Creator, May 2020

What does gadget insurance cover? illustration

Are my gadgets already covered?

There are ways your gadgets could already be covered. Other products might offer some protection, including:

  • credit card icon

    Credit card

    If you bought your gadget with your credit card, it may be protected. Check your policy and remember to read the small print

  • Bank icon

    Bank account

    Some bank accounts come with insurance as part of the package, so check your policy as you might already be protected

  • policy icon

    Warranty

    Most gadgets come with some warranty, but this typically covers mechanical breakdowns, not accidental damage or theft

How much does it cost to insure my gadgets?

The cost of gadget insurance will vary according to the number of items you’d like to insure, their model and the level of cover you choose. The more gadgets you insure, the cheaper your insurance will be, however the majority of people tend to insure just one gadget.

Our customer data showed 84% of people insure only one device, 11% two devices, 3% three devices, and only 2% looked to insure four devices or more.

2Data collected by Comparison Creator, May 2020

Gadget bundle Average Monthly Average Annual2
3 £16 £159
5 £19 £187
7 £21 £210
10 £25 £245
iphones are the most commonly insured gadget graph

What is the most commonly insured device?

Most people take their phone with them everywhere, and smashed screens and water damage are a common occurrence in phone repair shops across the country. It’s no surprise then, that phones are the most commonly insured gadget.

When considering how gadget insurance can protect your phone, there are a number of limitations to consider. For instance, some insurers won’t insure a phone that’s over six months old, while others will happily insure phones that are two years old. And you probably won’t find insurance if you bought your mobile second hand.

To get mobile gadget insurance you need to have a proof of purchase, but even then, most insurers will not cover a phone bought outside the UK. It’s always important to check the policy documents to make sure you are adequately covered.

3Data collected by Comparison Creator, May 2020

There are many types of policy to consider. You can protect one particular item like your iPhone or you can get more comprehensive household policies that cover a whole range of devices. There are also policies available that cover all the family’s gadgets in one umbrella policy.

No. Items must have been purchased as new from a manufacturer, network provider or other high street or online store. Refurbished gadgets or those bought from outlet or similar stores are not eligible for cover.

If it’s been stolen, you will need to notify the police and get a crime reference number as soon as possible. Then submit your claim at the earliest opportunity by contacting your insurer. Always keep receipts too as you will always need proof of purchase for any successful claim.

Most people who own a phone literally take them everywhere. And if you really worry about losing or breaking your phone, it might be worth taking out gadget insurance.

There are a number of factors to consider when insuring your phone. Some policies won’t cover a phone that is more than six months old whereas others will. You will also need proof of purchase in order to get gadget insurance but you’re unlikely to get cover if it wasn’t bought within the UK.

No. Items must have been purchased as new from a manufacturer, network provider or other high street or online store. Refurbished gadgets or those bought from outlet or similar stores are not eligible for cover.

Read through your policy documents to check exactly what they insure under that particular cover. You might have limited cover so it’s a good idea to work out the value of your gadgets and then ask yourself if it is adequate.

There could be. A warranty covers mechanical breakdowns but not accidental damage or theft. Most gadget insurance policies would cover these, but always remember to check the policy thoroughly.

If it’s been stolen, you will need to notify the police and get a crime reference number as soon as possible. Then submit your claim at the earliest opportunity by contacting your insurer. Always keep receipts too as you will always need proof of purchase for any successful claim.

It depends on your circumstances: ask yourself if you could afford to replace the gadgets if they are damaged or lost, whether they are still under warranty, have you lost or damaged gadgets before, and are they covered already under another policy like home or contents insurance?

Gadget insurance will certainly give you peace of mind if you are accident-prone or use your gadgets on the move, especially if you can get a policy that costs only a few pounds a month.

Moneysupermarket have teamed up with protectyourgadget.com who offer an external gadget insurance comparison service. ProtectYourGadget.com is a trading name of Comparison Creator Limited, a company registered in England and Wales (Registration Number 07336373). Comparison Creator Limited is an Appointed Representative of Moneyshake.com Limited which is authorised and regulated by the Financial Conduct Authority (Firm Reference Number 522581).

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