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Are your gadgets insured?

There’s no denying that more of us are getting mobile when it comes to our tech. Smartphones have become all but a necessity and more of us are using tablets than ever before. But given how much time and money we’re spending on our gadgets, how many of us are actually insuring them? 

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A more mobile nation

Smartphones are now the most popular device used for getting online according to Ofcom’s 2015 Communications Market Report. We now spend twice as long getting online on our smartphones than we do our laptops or desktop PCs. In fact, according to research we conducted last year the average adult now spends over 2 hours a day online using a smartphone. Our research also showed that a quarter of us Brits look for updates on our phone over 50 times a day.

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The tide of the tablet

Since Apple launched the iPad in 2010, tablets have really taken off. Now joined by Samsung, Amazon and many more, tablets are becoming more affordable and easily accessible. In fact, statistics released by Ofcom last year shows that over half (54%) of all UK households now have a tablet. And they’re predicting that by the end of 2016, 63% of us will own one. 

Are you insured?

Our latest online survey** shows that 91% of you now own a mobile or smartphone. And perhaps even more surprisingly 3 in 5 (59%)of you now own a tablet of some sort too. That’s a lot of tech to be carrying around in your pocket or handbag. And with the average smartphone in the UK costing £259 that’s a lot of value to be carrying around too.

Yet, the results from our online survey show that less than a third (29%) of you mobile phone owners actually have your devices insured. And tablets have even less cover, with less than 1 in 4 (23%) tablet owners currently insuring their tech. (We’ve explored why- you can read more on that here).

As you can see, 1 in 5 people who currently have their mobile or smartphone insured have had to make a claim previously. Interestingly though, far fewer have had to claim for their tablets, with just 5% of people who have their tablets currently insured having ever claimed before. 

We can also see that for some of you who don’t have your mobiles insured, you’ve ended up paying the price. 8% of people in our survey admitted to having to pay the full amount to fix or replace a lost, stolen or damaged mobile.

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How to get covered

Getting your mobile devices insured is relatively easy and the good news is that you have a few options. Our survey shows that the most popular type of cover for both mobile and tablet is provided under your home contents insurance.

Of those of you who said you have your mobile or smartphone insured, 42% are covered under your home contents policy. And for those who have your tablets covered, nearly 3 in 4 (72%) of you opted for cover as part of your home contents insurance. 

Whilst most home insurance policies should cover your mobile devices in the event of a theft at home, accidental damage cover is normally provided as an extension of your home policy cover or away-from-home cover is normally provided as an add-on. It shouldn’t cost you too much to extend your policy cover and may be more cost-effective than taking out separate insurance.    

Other options when insuring your mobile devices include; specific gadget insurance, cover provided by your phone manufacturer/network/reseller, and insurance bundled into your bank account.

** A YouGov survey commissioned on behalf of comparethemarket.com in April 2016 with a sample size of 2,003 adults (aged 18+) representative of the GB population as a whole.

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