How to choose the best Gadget Insurance?


Expensive Gadgets have become an integral part of out modern lifestyle. But what if something goes wrong with them? Won't we want to be in safeguard and protect ourselves? Gadget Insurance offers such security which is now picking up the market fray. But it is always better to have an awareness of what we should look in a Insurance Policy, and some of them are jotted below.

Why Is Gadget Insurance Necessary?

Gadgets have become one of an integral part of our daily life. When we leave our house in the morning we usually carry with us a number of expensive gadgets. Many of us are carrying quite a number of costly gadgets on a daily basis, and knowing this the theft and other threats to them are making gadget insurance as another essential string attached to them. It does give you that assurance that you don't suffer a huge loss if your gadget gets stolen or damaged for some reason.

The amount of money to replace any one of these ones would nevertheless create a big hole in our pocket and to save ourselves from such sudden losses the role of gadget insurance stands unavoidable.

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What should your Gadget Insurance cover?


The best thing about taking up a gadget insurance is that it will cover almost all of your gadgets including the handheld devices. Today any reliable Gadget Insurance are covering almost every type of gadgets, so before you subscribe to one, check out the list of gadgets it has enlisted, whether it has skipped any one from the following:

- Laptop
- Macbook
- Mobile Phones
- Smartphones
- iPhones
- iPad
- iPod
- PDA
- Digital Camera
- Games Console
- Kindle
- SatNav

There are insurance companies who cover up even more than these, so it is always better to have a clear conversation with your insurer regarding the items they are covering in your Insurance along with other terms and conditions.

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You might be hesitant of choosing a smartphone insurance or warranty program as most of the phones are coming with a period of limited warranty – but in reality these plans in most cases don't cover many things, moreover you may not also have an option to purchase another additional protection program once the limited warranty period expires. So to be on the safe side, an insurance plan would essentially enhance your phone's warranty or extend its security period.

What else you should look for:


Are your losses and thefts duly covered?
How much is the plan declare as deductible?
What is the plan holding for its cancellation policy?
Does the plan include water damage and whether or not that cover both spills and immersion?
Are the charges payable on a monthly basis or is it asking for a one-time fee?
Would your phone be replaced by the same model as that of your current phone?
Is it guaranteed in the plan to get a replacement within a certain period of time?
Are the allowed number of replacements limited?

Repairs, replacements and recovery


Any good gadget insurance policy should ensure taking up the responsibility of repair work or replacement of the damaged, lost, or stolen items within a maximum period of 48 hours with making a successful claim, and also getting you straight back into your personal electronic world as quickly as possible.

It should be ready to pay off the cost of any repair work if your equipment gets damaged in an accident and replace it if it becomes totally irreparable. The insurance plan should also be ready to replace any stolen items. So it it always better to check whether your policy is offering "new for old" replacement, as in many cases they only offer an inferior kind of replacement. But a sound policy has to offer also the protection against damages caused by spilled drinks or any mechanical breakdown. So, before you opt for one, do not forget to check your policy carefully, as many of them won't include the losses as one of their standards. Moreover, you also might be end up paying an additional amount of premium for the replacement of lost items. There are many insurers in the limelight who refuse to cover highly expensive items like Laptops, iPads and MacBooks against any loss.

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Beware of exclusions


Every time you go for an insurance, the most important watch out is the exclusions. If you browse through the recent gadget insurance policies, most of them won't agree to cover the theft of any equipment which you might have left in your car, unless it is assured that you have concealed it in a locked boot or a glove compartment. They also won't cover any replacement of gadgets which have been left unattended while being away from home, or have been failed to have taken any reasonable primary precautions. They insist that they can replace things only when there is enough evidence of it been stolen from home, along with signs of forced entry.

There are Policies which also won't cover things like maintenance or cleaning, routine servicing or replacement of broken fittings like buttons, keypads, knobs or aerials. In that case one must get the repairs authorised beforehand, otherwise the insurer may even refuse to acknowledge their responsibility.

Price


For many consumers, the final criteria of choosing a gadget insurer is the price, which is also the most important factor in a warranty program. But one has to keep in mind that most of the plans will include a deductible, and there is an amount of money one has to pay if one
loses any of his gadgets. There can be an option like a cheaper monthly fee that indicates a higher deductible.

The Final Criteria:


But all those will also depend upon the varying state laws which can directly take effect in the variations of the terms and conditions of any insurance plan.


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Comments

Author: Timmappa Kamat23 Feb 2015 Member Level: Gold   Points : 3

Most of us generally don't hesitate paying thousands of bucks on the newest of the gadgets, but when it comes to insuring them - we just tend to look the other way. This article tries hard to make people understand the true need for a gadget insurance.
Before opting for any insurance plan it would be advisable to go through the terms and conditions in detail. If you dont understand something, consult the experts. Paying special attention to what is termed as excluded is more important.
A great article indeed. Thanks for enlightening us on the topic.



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