6 Good Reasons Why You Need Gadget Insurance

We all know we are in difficult financial times and many of us are looking carefully at our expenses with a view to tightening the belt.  Though you might see it as a non essential outgoing, in this article I’m going to outline what I think are the 6 top reasons why you need gadget insurance.

• Particularly if you’ve just splashed out on the newest model or the highest spec, the likelihood is your gadget was quite an expensive device and you probably are not in a position to replace it if you are unfortunate enough to lose or damage it shortly after buying it.  The monthly insurance cost of such policies is usually relatively very low when you compare with the high cost of replacement or potential repair bill usually associated with such expensive gadgets.
• The nature of most gadgets today is that they are highly portable.  This portability is arguably one of the key attractions and benefits of such devices but ironically is also one of the key weaknesses.  The fact that most of the gadgets are mobile and you carry them with you most of the time means they are an increased risk in terms of loss, theft or accidental damage (damage from dropping or from being smashed against other items in a bag/pocket).
• Even for gadgets that you use mainly in the home, there is still a significant risk of accidental damage.  Damages to gadgets in the home often occur from dropping smaller items into water (for example dropping mobile phones in the bathroom) or from spilling water on the gadget (for example spilling coffee on a laptop) so click to visit Protect Your Bubble.
• The attractiveness and expense of some gadgets mean they are a magnet for a potential thief.  Whether it be in the workplace, socialising with a group of friends, it only needs a momentary distraction to allow a thief the opportunity to steal our new expensive gadget.  Even if you regard yourself as being highly security conscious, it is still sensible to insure such items against theft.
• With many of the gadgets we use, due to the frequency we use them and again due to their portability, it is easy to lose them, for example, by leaving them on the table at the coffee shop or losing them out of a pocket or bag.  In some cases, we might not notice till sometime later by which time the gadget has been removed or stolen.  However, if you want cover for loss, you will need to choose your policy carefully as typically accidental loss is excluded from insurance cover.
• Last but by no means least, gadget insurance will afford you peace of mind.  Depending on which policy you opt for and what features it has, you really can be protected for all eventualities.

There are a great number of providers available with a whole suite of plans designed to suit your needs. Though it might seem the easiest choice, avoid being tempted to purchase the insurance package offered by the gadget store.  As with any purchase, you will get a much better deal by shopping around.  Look out for umbrella policies or discounts if you are insuring more than one item, this is a great way to save money and also easier to manage under just one policy.  Confirm that the exclusions and limits of the policy do not make it unsuitable for your needs and that it provides suitable, appropriate and comprehensive cover.

As well as the basics, look at other benefits offered as incentives by the various providers.  As well as the peace of mind you will get from the replacement/repair insurance, some of the add-ons offered greatly reduce the inconvenience suffered when your gadget has to be replaced or repaired.  Some offer a guaranteed 48 hour replacement.  Some others offer data back -up package.  Knowing your information and precious memories are backed up can be particularly reassuring.

Often the longer the policy period, the cheaper the premiums will be, so for example, if you select a 2 year policy this would usually work out cheaper than taking out a year policy and then renewing it.  If you opt for a longer policy, make sure you notify your insurance provider of the details for any gadgets you upgrade during that time.