The use of mobile phones, tablets, and other gadgets has been steadily increasing over the last 10 years.
For example, in 2015, the Guardian reported that every British household owned more than 7 gadgets. Now, the figure is certainly higher.
With all these electronic devices around, it’s easy to lose track. Gadgets are frequently misplaced while travelling, or left in hotels and on buses.
You might wonder what would happen if you lost your gadgets, or if your kids left them on a plane. Have you ever counted the cost of repurchasing all of your valuable gadgets? It doesn’t bear thinking about.
Weighing Up the Risk
Some types of insurance are compulsory. The most common examples are buildings insurance, which will usually be required if you need a mortgage to buy a house, and car insurance, which you need to have to drive on a road in the UK.
Other types of insurance are optional, like pet insurance, life insurance, and insurance for the appliances around your home.
Insurance is all about risk, and you need to balance the risk with the cost. Often, very expensive insurance for a basic smartphone isn’t worth the money. But cheap insurance for a phone can be a good investment -- particularly if you would struggle to buy a new one outright.
The risk of having a phone stolen, or losing a phone while travelling, is actually quite high compared to the risk of a catastrophic event that knocks your house down. So gadget insurance does make sense.
How to Compare Gadget Insurance
Before buying gadget insurance, think about:
How many gadgets you own as a family
How many devices your kids use, or carry around on a regular basis -- since the risk of loss or damage is going to be higher for those
Whether you take devices out of the home, and how you store them when they’re at home
Which devices you couldn’t live without if they broke, and which ones your kids rely on.
Insuring lots of gadgets can also be expensive. If you have a few tablets and phones in the house, it’s worth looking for an insurer that will offer you a discount for insuring multiple items.
The excess is also important. If this is too high, it won’t be worth claiming for your device if it’s lost or damaged.
Gadget Insurance Peace of Mind
Row.co.uk is one of the UK’s leading gadget insurers. Its flexible quote builder allows you to create your own custom gadget insurance package, so you can instantly insure your most valuable an important items by just adding them once to your plan.
Additionally, you get a discount for insuring multiple gadgets. For example, insure two, and we’ll discount the price by 5%. Insure three and we’ll give you a huge 15% off.
All gadget insurance includes accidental damage cover, trips overseas, cover for unauthorised calls, and -- crucially -- cover for liquid damage. The cover you buy applies to you and your immediate family; ideal if you all share a device in the family home.
For more information, and to get an instant quote, head to Row.co.uk’s gadget insurance quote page.