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What To Look for In a Gadget Insurance Policy

What To Look for In a Gadget Insurance Policy

As people become more reliant on technology, it makes sense to ensure gadgets in case there is a fault or a device is lost. However, knowing where to start regarding gadget insurance can be difficult, especially for those insuring their technology for the first time.

The following is an overview of what tech enthusiasts should look for in a gadget policy, and why they're so important when safeguarding items like tablets and smartphones.

Why Consider Gadget Insurance?

There are many gadgets available, and the capability of modern technology often means they are an expensive investment. Whether you want to purchase a new mobile phone or are keen to get your hands on the latest gaming system, it can be expensive when something goes wrong.

Gadget insurance provides peace of mind that valuable devices like laptops and tablets are covered in case of a fault or theft.

What Does Gadget Insurance Cover?

Although there are several types of gadget insurance available, you can expect it to cover the following.

Accidental Damage

Accidental damage can include dropping a device on the floor or spilling a drink over a laptop or table. Knowing accidental damage is included in a gadget insurance policy ensures that people are never without their device longer than needed.

Water Damage

Spilt liquids are just one way of technology becoming water damaged. Sometimes, it only takes a bout of bad weather for technology to become defective. Fortunately, using a professional insurance company ensures that regardless of how water damage occurred, technology is fully covered.

Loss and Theft

Although losing a device can be problematic, technology being stolen can leave many people feeling vulnerable. Having the right insurance policy in place regarding technology ensures that life does not have to come to a standstill due to the nefarious actions of another.

Frequently Asked Questions Regarding Gadget Insurance

Despite many insurance companies offering a similar service, some can present limitations that mean gadget owners do not always get full value for money. The following is an overview of some of the additional factors that must be considered when searching for gadget insurance.

Which Devices are Covered When Using Gadget Insurance?

When using a professional insurance company, there are multiple gadgets that can be insured, which include but are not limited to the following.

  • Mobile Phones
  • Kindles
  • Tablets
  • Games Console
  • Laptop
  • GPS Navigation Device
  • Headphones
  • MP3 Player
  • eReaders
  • Digital Cameras

Those who wish to insure several gadgets need to ensure the policy reflects this, and be fully aware of what coverage is in place for each item.

Will I Receive a Like-for-Like Replacement?

Many insurance companies will ensure that the device offered is the same as the one that is lost or damaged, but there can be instances when this isn’t the case. Before committing to any policy, those wanting to insure their technology should ensure that a like-for-like replacement will be received in every instance.

Will I Receive Warranties on Replacement Devices?

Replacements and repairs are covered by gadget insurance, but technology enthusiasts want to ensure their replacement handset is covered should anything go wrong. As such, those searching for excellent value for money should ensure that replacement devices include a warranty that lasts at least 12 months.

How Many Gadgets Can Be Covered by Insurance?

Whereas some people may only have one gadget to insure, others may have several devices. Fortunately, those using the current insurance company can choose from either single or multi-gadget insurance. Furthermore, those who use a seasoned insurance professional can expect to make an additional savings when insuring more than one device.

Can Gadget Insurance Be Updated?

There will be instances when a policy is created for one gadget, only for the person to need more coverage in the future. Using a seasoned professional ensures that gadget policies can be updated to include new acquired technology, ensuring all important possessions are safeguarded.

Is My Gadget Covered Worldwide?

Many policies will insure gadgets if they are lost or stolen in the United Kingdom, but this may not be the case if a device is used abroad.

Another important feature to look out for is whether covered whilst on holiday or wherever you may be travelling to. We spoke to Dynamo Cover, and they stated that when you insure your gadgets with Dynamo, you'll have worldwide coverage for complete peace of mind.

How Long Does It Take For a Claim to Be Made Regarding Gadget Insurance?

There are several factors that can affect the completion of a gadget insurance claim. In some instances, the insurance company may need to speak to third parties, and the response time is out of the control of the insurance company.

However, ensuring you use a professional insurance company like Dynamo Cover ensures that technology enthusiasts can make a claim as soon as possible and be given clear guidance on what to do next as well as information regarding the turnaround time of the claim.

Is There a Limit Regarding Repairs and Replacements?

Another concern that people have regarding technology insurance is whether there is a limit in place regarding repairs and replacements. Faults and thefts can occur unexpectedly, and if there are limits in place, it could mean technology enthusiasts are not receiving full value for money regarding their policy.

When Should a Fault or Theft Be Reported?

Understandably, thefts and faults cannot always be reported straight away, but those wanting to claim on their policy must ensure they make a claim as soon as possible. Although there are not always time limits, a claim must be made as soon as possible so a reimbursement or payment can be made promptly.

Even though there are factors to be considered when choosing gadget insurance, ensuring a policy is in place is often more cost-effective and less stressful than having to go it alone should the worst-case scenario occur.