Investment & Insurance Blog

Currently browsing Latest Posts

Gadget InsuranceGadget Insurance… you can’t live without it.

Why bother with Gadget Insurance? We all rely heavily upon our gadgets. Homeschooling the kids – gadgets. Keeping in touch, search for things to gain knowledge, make purchases, gadgets. Even more so in these COVID times as it’s the only way to interact with the outside world; and this would be sorely missed should anything unforeseen happen to your gadget.  The average Brit has access to more than nine connected devices in one household so it’s worth taking out specific insurance to cover these.  Given how much it would cost to replace these items, it’s a good idea to think about Gadget Insurance no?

Bestpricefs has now launched a new product called, wait for it… Gadget Insurance (see what we did there?) which will provide you cover for these multiple gadgets in your home and away from your home. It covers you for:-

  • Repair costs if your gadget is damaged as a result of an accident. If it cannot be repaired it will be replaced.
  • If your gadget is stolen it will be replaced.
  • If you accidentally or unintentionally lose your mobile phone it will be replaced.
  • If your gadget (other than laptops or computers) suffers electrical breakdown which occurs outside of the manufacturer’s guarantee period, it will be repaired. If it cannot be repaired it will be replaced.
  • If your gadget is damaged as a result of accidentally coming into contact with any liquid, it will be repaired. If it cannot be repaired it will be replaced.
  • If your mobile phone is accidentally lost or stolen and is used fraudulently, you will be reimbursed for the costs upon receipt of your itemised bill up to a maximum of £2,500.
  • If your gadget is intentionally or deliberately damaged due to the actions of another party, not including your immediate family, it will be repaired. If it cannot be repaired it will be replaced.

The whole point of this policy is to put you back in the same position as you were prior to the loss or damage of your gadget.

Unlike most other Gadget Insurance providers, we offer a single one-off premium (as opposed to insuring each individual gadget) with three different levels of cover to choose from – £1,000, £2,500 and £5,000.  This is to make the process of buying the product through to claiming as simple as possible but still giving you all the protection you need.

The types of gadgets covered are listed below:-

  • mobile phone (including iPhone),
  • iPad,
  • Tablet,
  • Satellite navigation unit,
  • iPod,
  • MP3 player,
  • Laptop,
  • Camera,
  • Portable DVD player,
  • Portable gaming consoles, or
  • LCD monitors or phablets.

Your gadget(s) will be covered up to a maximum sum for each gadget depending on the level of cover you choose.  A maximum of 2 claims can be made in any 12 month period. However, each claim is subject to an excess fee that you must pay ranging from £25 – £75 depending upon the amount you are claiming.

Although your home insurance contents covers gadgets, it tends to only include them within the home.  The problem arises when you leave the house and, if you’re like most people, your tech travels with you.  Some policies will cover belongings that you carry around, such as your phone, but you will probably have to pay for the privilege. You will also find that the excess on your contents policy is so high that it’s not worth making a claim, particularly as you would lose your no-claims bonus.

You should always bear in mind this cover is always offered to you when you buy any phone and/or most other gadgets from a shop or on-line, however, it’s always wise the shop around as these insurance premiums can be over-inflated in order to make more commission.  At Bestpricefs we have kept our commission rates at a lower amount in order to pass any saving onto you.

Cover multiple gadgets for a single premium with Bestpricefs.  Click on the image below or HERE.

gadget insurance - click here to apply