Gadget insurance
Most of us have cracked a phone screen, spilled coffee on a laptop or left our tablet somewhere. When it happens, your first (panicked) thought may be: “Is it covered on my home insurance?”. Here’s what you need to know about gadget insurance, including what it covers and what it doesn’t.
Most of us have cracked a phone screen, spilled coffee on a laptop or left our tablet somewhere. When it happens, your first (panicked) thought may be: “Is it covered on my home insurance?”. Here’s what you need to know about gadget insurance, including what it covers and what it doesn’t.
What is gadget insurance?
Gadget insurance could cover the cost of repairing or replacing electronic items, like mobile phones, tablets and laptops.
In today’s digital world, we have more gadgets than ever, often carrying them around with us. They’re also expensive, which makes protecting yourself against the cost of replacing them well worth thinking about.
Insurance for gadgets can be bought as a standalone policy, but it’s a good idea to see whether you’re already covered by another policy. For example, home contents, travel or car insurance might cover your gadgets in some circumstances. So check before you buy to avoid paying for cover you may already have.
Compare the Market don't currently compare standalone gadget insurance. However, we can compare home insurance to cover your gadgets and other possessions.
What does gadget insurance cover?
Policies vary among providers, but standalone gadget insurance usually covers three main areas: theft, breakdown, and accidental damage. Make sure you check the policy details for any exclusions, so you have the cover you need.
A typical policy could include:
Theft
Easy to grab and often expensive, your gadgets could be tempting to thieves. Theft cover means you could be covered for a replacement if your gadget is stolen – but check the exclusions to understand these fully.
Accidental damage
If you accidentally drop your gadget and crack the screen, accidental damage cover could pay for repairs or a replacement, if it can’t be fixed. Liquid damage is normally covered too.
Mechanical breakdown
Gadget insurance could cover repairs or a replacement if your gadget dies or breaks down because of a mechanical or electrical failure, and it’s out of warranty. It should cover any issues that would have been covered by the original warranty.
Accidental loss
Losing your mobile while you’re out and about may not be covered as standard. If it’s not, you may be able to add on loss cover for smaller devices like your phone, smart watch and tablet for an extra cost.
Unauthorised call cover
If your smartphone is lost or stolen, this could cover the cost of any unauthorised network charges, including calls, messages and downloads. Some policies may also refund unauthorised e-wallet transactions – provided you have set a pin. Bear in mind that policies typically only cover up to a set amount.
Worldwide or international cover
Your gadget insurance policy might also cover you for any gadgets you take on holiday. Check if this is worldwide cover or whether there are any limits on the countries where you’ll be covered. Cover may also be limited to a certain number of days per trip, or per year.
Exclusions from gadget insurance cover
Gadget insurance does have its limitations. You should read your policy wording for full details, but here are some common examples of exclusions:
Theft or damage due to negligent behaviour
If you leave your bag unattended and someone steals your phone, your insurance provider is unlikely to be sympathetic. Similarly, your theft claim could be rejected if you leave your device in your car in plain sight, or it’s stolen from your home with no signs of forced entry.
Damage due to negligence or wear and tear
Gadget insurance typically won’t cover any damage that was caused either deliberately, or through a lack of care or attention on your part. It normally also excludes breakdowns or drops in performance that are due to general wear and tear over time.
Cosmetic damage
Small scratches and dents to a phone, tablet or laptop won’t be covered, as they’re classed as general wear and tear. You’ll normally only be covered for damage that affects the functionality of the device.
Content and files
If you have any files, photos, paid-for movies, apps or music stored on a device that’s lost, stolen or broken, these usually won’t be covered. For that reason, it’s a good idea to back up the contents of your devices regularly.
Claims within the deferred period
When you take out a policy, there may be a ‘cooling-off period’. This means you won’t be able to make any claims until a certain time after your policy starts. For example, if you insure a camera with a deferred period of three weeks but then break it on day two, it won’t be covered.
Damage that’s covered by a warranty
You’ll be expected to claim on your warranty instead, which should usually replace your gadget for free.
Items with no proof of purchase
You’ll need to provide a receipt, or a gift receipt, when you make a claim to prove that the device is covered on your policy. For example, if you’re claiming for your phone, you’ll need a receipt that shows the phone’s IMEI number.
What devices are covered by gadget insurance?
- Mobile phone
- Smartwatch
- Laptop
- Tablet
- E-reader
- Apple devices – iPhone, iPad, etc
- Camera and camcorder
- MP3 player
- Headphones (wired or wireless like AirPods)
- Fitness tracker
- Portable games console
- VR headset
- Sat nav device
Many gadget insurance providers offer to cover multiple gadgets on one policy. Bundling multiple gadgets under one policy could be cheaper than buying separate cover for each device.
You may need to list certain high-value items separately, as single-item limits may apply to your cover. Some multi-gadget insurance policies may base their quote on the most expensive gadget you want to insure.
What devices aren’t covered by gadget insurance?
There are some items that won’t be covered by gadget insurance. These could include:
- Devices that aren’t listed under your policy – always check your policy details to see exactly what’s covered and for how much.
- Old devices – there’s usually an age limit. For example, if your smartphone is more than three years old, it might not be covered.
- Refurbished or ‘second-hand’ devices, including items bought on online auction sites such as eBay. Refurbished devices may only be covered if they were bought directly from a manufacturer or network provider.
Does home insurance cover gadgets?
Contents insurance generally covers your possessions inside the home against incidents such as theft, fire damage and flood damage. Unfortunately, it may not insure your gadgets for accidental damage or when you're outside the home.
However, you can usually buy an extension to your home insurance policy to cover this shortfall:
- Accidental damage insurance could cover you for mishaps like dropping your phone down the toilet
- Personal possessions cover protects your gadgets when you take them outside of the home.
When you compare home insurance with Compare the Market, you can search for quotes that include these options. However, every policy is different so make sure you read the details before you buy.
What to look for in your home insurance policy for gadget insurance
Here are some other things to look out for when considering if the cover provided by your home insurance is adequate for your gadgets and tech:
- What are the conditions? For example, how quickly do you need to report a theft? And are you covered if the incident happens while you’re overseas?
- What’s the excess? If your gadgets are cheap and your policy has a high excess (the agreed amount you must pay to make a claim), you might find making a claim isn’t worth it. Find out more about insurance excess.
- What’s the single-article limit? Most policies have this, meaning there’s a maximum pay-out you could get for a high-value item. If you have gadgets worth more than this single-item limit, you’ll need to add them individually to your policy.
- What happens when a claim is made? If your device can’t be repaired, they’ll look to replace it with a like-for-like equivalent. But what happens if that model no longer exists? Check your insurance provider's policy on repair and replacement to know where you stand.
What about gadget insurance for travel?
A standalone gadget insurance policy could include cover for your gadgets while you’re travelling abroad. Check the terms to see how long you’ll be covered for and make sure that your holiday destination is covered.
Although a standard travel insurance policy may also include the gadgets you take with you on holiday, cover limits tend to be low. If it’s not enough to cover replacing the gadgets you need to take with you, you could consider travel insurance with gadget cover.
Is there another way to insure my gadgets?
Your gadgets might already be covered:
- Some packaged bank accounts come with gadget insurance as part of the package
- You may be given the option to add cover for loss, theft and accidental damage to your warranty when you buy a new device.
If you only want to cover your smartphone, consider dedicated mobile phone insurance. This could offer more tailored cover for your mobile.
Is mobile phone insurance worth it?
It might be worth taking out a separate mobile phone policy if your handset is particularly expensive or you’re on a long-term phone contract. It might also give you more peace of mind if you have a habit of losing your phone.
How much is gadget insurance?
The cost of gadget insurance can vary a lot. That’s because it depends on the number of gadgets you want to cover and how much they’re worth. The main things to keep in mind are:
- How many gadgets you’re insuring
- The value of your gadgets
- What you’re insuring them against (e.g. do you need accidental damage cover?)
- The excess you’re willing to pay in the event of a claim.
Start your gadget insurance comparison
Compare the Market can help you compare home contents insurance quotes that could include gadget insurance. To get a quote, you’ll need some basic information about your home and gadgets, including:
- Any current home insurance policy documents
- The level of cover you need
- Details about your property
- The value of your gadgets.
Once you’ve answered the questions in the comparison service, you’ll be provided with a list of suitable quotes. The results will also show you optional extras you might want to consider, such as accidental damage insurance.
Frequently asked questions
Is gadget insurance worth it?
Whether or not a standalone gadget insurance policy is worth it for you depends on the value of your devices, how likely you are to claim and what cover you already have on your home contents policy.
Consider how you would cope if a valuable device like your smartphone or laptop were damaged or stolen. Could you afford to replace it? Is it covered by your home insurance policy? Would it be worth paying the excess to claim?
If you have expensive gadgets and you’re also accident prone, standalone cover is more likely to be worth it. On the other hand, if your devices are not particularly valuable, you could consider ‘self-insuring’ by starting a savings pot instead.
Do I need gadget insurance if my device is still under warranty?
Gadget insurance could still be useful even if your device is under warranty, because it could protect your devices from theft, loss and accidental damage. Most warranties only cover mechanical failure.
Whether or not you need gadget insurance depends on several factors like the value of your devices and what cover you already have, as well as your attitude to risk.
How do I claim on gadget insurance?
The exact process you’ll need to follow to claim depends on your gadget insurance provider. Many insurance providers now have an online portal you can use to submit claims. Check your policy documents for more information.
If you’re claiming for a stolen gadget, you’ll need to report it to the police first and get a crime reference number. And no matter what you’re claiming for, you’ll need to dig out your proof of purchase.
Can you insure gadgets over three years old?
It’s possible to find standalone gadget insurance for devices over three years old, but you’ll have a lot less choice. Most gadget insurance providers only cover devices that are under 36 months when you take out a new policy.
The age of your gadgets may not matter when it comes to the cover provided by your home contents insurance policy. However, given that devices tend to decrease in value over time, it could become less and less worthwhile to pay the excess to claim as your gadget ages.
Do I need gadget cover in my travel insurance?
Adding gadget cover to your travel insurance could be worthwhile if you’re planning on taking expensive tech with you on holiday. A standard travel insurance policy offers cover for personal belongings, but the single-item limit might not be enough to totally cover your smartphone and tablet.
So again, the advice is to check your policy details. If it doesn’t provide enough cover for your needs, consider adding travel gadget cover. This can often be bought as an add-on to your travel insurance, or you might find that some insurance providers offer a standalone gadget-only travel insurance policy.
Alternatively, if you need additional cover at home and abroad, you could consider UK gadget insurance that covers travelling abroad.
What should I do if my gadget is stolen?
Call the police immediately. They’ll give you a crime number, which you’ll need to make an insurance claim. Then contact your insurance provider to start the claim process.
Think about registering your gadgets on a security site like Immobilise UK National Property Register. This could help police recover your items and make insurance claims easier to process if your devices are stolen.
What if my gadget needs repairing?
Contact your insurance provider before getting it repaired. They may want you to use an approved repairer. If you choose one yourself, it could invalidate your cover and you won’t get a payout.
Can I get camera insurance with a home contents policy?
If you’ve got a top-of-the-range camera and want to protect it, you might find that camera insurance will fall under an existing home contents policy.
However, keep in mind that the best digital cameras can be very expensive, so could often be above the single-article limit, which is usually around £1,500-£2,500.
If you’re a serious photographer, your entire set of equipment, including lenses and flashes, could add up to several thousand pounds. So make sure you specify the camera and equipment individually on your policy.
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Anna McEntee – Home, travel and pet insurance expert
Anna’s all about delivering fantastic insurance products at a great price. Value is the most important thing for Anna, as she cuts through the jargon and finds what’s most important and worth your hard-earned money.