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 Protect Your Gadget, May 2020