We all know that the best way to get a good deal in our current difficult economic climate is to shop around. However, when it comes to insurance this truism is often forgotten, especially when it concerns mobile phones and other gadgets.
Far too often, people happily take the insurance that is sold alongside their gadgets in the store, not realising that this cover tends to be very limited, and when added up with other policies for individual items it can be a surprisingly costly way of doing things.
Sometimes a better approach can be to bundle several gadgets together under one broad gadget insurance policy. Insuring either three or five gadgets on a single policy can both save you money and give you a more comprehensive level of insurance.
Items that are eligible to be covered by gadget insurance include smartphones, games consoles, tablet computers and eBook readers, digital cameras, mp3s and sat navs.
When shopping for gadget insurance for several items, there are a number of different things you should look for in a policy. Firstly, it is a good idea to ensure your gadgets are covered for all forms of accidental damage. This is important, because many of the insurance packages sold by phone shops exclude water damage, which is one of the most common causes of malfunction in mobiles.
Secondly, your policy should cover theft, regardless of the circumstances in which it happens. Some insurers will place lots of caveats on your policy to try to prevent them having to pay out for stolen phones, and those ones are to be avoided.
Thirdly, when phones are stolen, thieves sometimes use them to call premium rate phonelines, which can mean you rack up bills of hundreds of pounds. A good insurance policy will cover you for this, so that the insurer absorbs the costs of any unauthorised calls for you.
The mistake many people make with gadgets is to simply rely on their household contents insurance. While useful, this type of insurance does have limitations in terms of how it covers gadgets. Sat navs, for example, will not usually be covered by contents insurance after they are taken outside the home, and generally they will not be covered by car insurance either.
It is often assumed that nowadays with smartphones that also serve as cameras and mp3 players, having lots of different gadgets is unnecessary. Nevertheless, it is still very common for individuals to have separate devices for music, games, and home computing, and this is unlikely to change in the near future. For one thing, if you were to try to use your smartphone for absolutely everything, the battery would run out very fast.
Our busy modern lives involve relying on gadgets with ever greater frequency, so bundling several together for insurance could be a great way to save money. With all your gadgets under one umbrella policy, you get simplicity, value and the peace of mind to know all your favourite devices are covered against any eventuality.