Tag Archives

Archive of posts published in the category: insurance
Apr
2

MoneySuperMarket’s Guide To Gadget Insurance

Does your home insurance cover your gadget?

Your home insurance policy will offer some level of cover for your gadgets, and this cover will be offered as part of your contents insurance policy.

Home insurance will only cover your gadgets if anything happens to them at home – unless you’ve opted for cover for each device outside the home too.

Claiming on your home insurance policy for your gadgets can make your home insurance premiums more expensive in the future.

 

According to MoneySuperMarket data, correct as of July 2018.

According to MoneySuperMarket home insurance enquiry data collected between January and July 2018

How will your home insurance protect your gadget?

Your home contents insurance policy can help to cover the cost of repairing or replacing your gadget if the damage or loss is caused by:

  • Fire
  • Smoke
  • Theft and attempted theft
  • Lightning and storm
  • Flood
  • Malicious damage
  • Earthquakes and more

You’ll need to read the policy documents to see the full list of events that are covered as each policy differs. The policy will also list any claims where contents insurance won’t cover the cost.

Accidental damage will usually have to be added to your contents insurance policy to help cover your gadgets against spillage, cracked screens and more.

How do you add your gadget to your home insurance?

If your gadget is worth less than £350 (if it’s a laptop) or less than £1,000 (if it’s a mobile phone or other device), you won’t need to add the gadget individually to your contents insurance policy. Instead, include its value in your total contents value estimate to make sure it’s covered at home.

You can also include cover for more than one gadget or device by increasing the total contents value of the house to protect the family’s devices at home.

 

 According to MoneySuperMarket data, correct as of July 2018.

According to MoneySuperMarket home insurance enquiry data collected between January and July 2018

If a laptop is worth more than £350, or a mobile phone or another device is worth more than £1,000, you’ll need to add each device separately to your contents insurance policy. This is because they’re considered to be high value items, so you’ll need to name each one to make sure they’re covered.

Cover for your gadget away from home

You can add an extra level of cover to your contents insurance policy to protect your gadgets outside of the home (this level of cover is sometimes called ‘Personal Belongings/Possession’ or ‘All Risks’ cover).

Adding cover away from home helps to protect your device(s) against any physical damage or theft that might happen when you’re out and about. It can also cover your device in case it becomes lost.

Always read the policy wording to make sure you know what will and won’t be covered under ‘Personal Belongings/Possession’ or ‘All Risks’ protection because insurers might offer different levels of cover.

You’ll need to say whether you want to insure your high value items away from home when you add them to the contents insurance policy individually. Cover for your gadgets away from home will