Home News Did you know about gadget insurance? Are these items included in your...

Did you know about gadget insurance? Are these items included in your home insurance?


Congratulations on buying a new iPhone! Now, all your friends will become your fans! So, your good luck begins, isn’t it? But halt…imagine that you are in a bar enjoying with all your friends and you are quite busy showing them your new phone. Suddenly, one of your friends gets super excited and in that moment of increased excitement, your iPhone falls from his hand. After an interim thaw, you pick up your brand new iPhone to discover that it’s dead! Now that your friend did it unintentionally, you can not charge him.

In such situations, you might wonder why you didn’t get hold of a gadget insurance cover for your iPhone, but it’s too late. No worries we were just trying to imagine, you remember? Well, it’s never late to take adequate precautions beforehand with respect to all your costly gadgets which you perhaps can’t afford buying frequently.

Gadget insurance – the era of security

You obviously feel much secured when you learn that you have life insurance going. But, what about the lives of your devices that help you get going in your life smoothly. While we are more dependent on the digital world, we definitely can’t afford to lose our smartphones, laptops, cameras, tablets and not to forget – your e-Reader!

If you go for any policy cover pertaining to gadget insurance, you indeed get a wide range of covers. Most gadget insurance provides protection against theft, loss, accidental damage, mechanical breakdown, liquid or water damage. Your gadgets can be appealing to thieves, but you certainly won’t want to bid adieu your dear gadgets. Add an extension of smartphone insurance to your gadgets insurance as well. What if you lose your phone outside of your home, or you accidentally drop your phone and crack the screen! Also, you may take your phone to the washroom and drop it in the water! To err is human!

These are the general protections, your insurer might for your gadget insurance claims. But, there’s more on the platter. Your gadget warranty might run out and then die. Now, who will cover your claim? Mechanical breakdown policy extension comes with some of the very best gadget insurance policies. But, normal wear and tear aren’t usually covered.

Gadget insurance vs. home insurance – get the right deal

Home insurance policies generally are considered holistic. But, does that mean they practically cover anything and everything? Nope, your home policy may cover your home but is limited to covering your belongings. The premium you need to pay for to purchase more extensions along with your home insurance can cost you more than a simple gadget’s insurance. So, you might end up paying higher premiums or deductibles to cover your gadgets.

There’s one more thing to be noted here – your home insurance might cover your gadgets while at home unless you’ve opted for cover for each device outside the home too. But only 20.7% of people opt for extensions of gadgets cover along with the home insurance policy, due to the exorbitant premium rates.

Plus, getting a new mobile phone and powerbank in the right budget is not a matter of luck. So, adding covers for all your favourite gadgets like laptops, iPads and tablets, mobile phones, iPods and MP3 players, games consoles, Kindles and eReaders, smartwatches and Fitbit, cameras, and camcorders on the list of your home insurance policy is simply not feasible. Firstly, you land getting a long billing list, and secondly, it’s home insurance you are opting for!

What to prefer? Get going the right decision

The actual question that arises is whether you need gadget insurance? To decide upon, it’s perhaps worth asking yourself how much accident prone are you? If you have a bad record of losing your gadgets quite often, then you definitely can’t risk any more mishaps to occur. Home insurance caps your claims too few belongings, but gadgets insurance can be helpful in the long term, especially when multiple claims are to be addressed.

Now you might think why brainstorm to decide which policy cover to opt for. Why not instead wait for your devices to get lost or damaged and then buy new ones. This is the high time to ask yourself whether you can really buy new gadgets which are exceptionally costly. High-value items like for instance, iPads and tablets, laptops, iPods, MP3 players, cameras, and camcorders are not easily affordable to replace!

Well, now don’t fear losing your buddy, since you got it covered! Get going with all your gadgets and make ultimate use of them!

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Our Senior rumors analyst, Ashutosh is a postgraduate in biotechnology and has an immense interest in following technology developments. Quiet by nature, he is an avid Chess player. He is responsible for handling the office staff writers and providing them with the latest updates happenings in the world of technology.