Getting a new gadget can be an exciting moment for anyone, but some become so focused on their new tablet, laptop or smartphone that they forget how much they are spending. So what happens when your shiny new gadget gets stolen, lost or damaged? You’ll be forced to spend hundreds of pounds or more to replace your technological toy.

By investing in gadget insurance, you can remove the risk of these costly expenses, but there are a lot of options available in the UK. How do you choose the right gadget insurance for you?

Comparison

It is always best to consult with potential insurers directly; however, this comparison of some of the top gadget insurance providers in the UK can help you get a better general understanding of your options. To ensure that all providers are compared on an even playing field, we will compare the basic coverage for an iPhone 5S 16GB offered by each insurer: 

Insurance Companies Overview

Insurer	Actual Policy Pricing after Special Offer Discount (1st Month Free Offer)
Cheapest Policy Price(Annual)	£14.62 Nokia Lumia 610	£17.88 Nokia Lumia 610	£77.88 Apple iPhone5s	£27.00 Samsung Bridge Camera
Apple iPhone5s 16G Basic Policy	£50.32	£71.88	£77.88	£59.88
Samsung Galaxy S4 Basic Policy	£40.23	£71.88	£77.88	£59.88
Apple iPad 4Wi-Fi 32GB Basic Policy	£43.89	£57.48	£155.40* only available with multi-gadget policy	£59.88
HTC One Basic Policy	£40.23	£71.88	£77.88	£59.88
Kindle Fire 2 HD Basic Policy	£15.02	£41.88	£155.40* only available with multi-gadget policy	£41.88
Types of Devices Covered	Mobile Phones Tablets Laptops/Desktops Cameras Game Consoles MP3 Players GPS Devices	Mobile Phones Tablets Laptops/Desktops Cameras Game Consoles MP3 Players GPS Devices	Mobile Phones Tablets Laptops/Desktops Cameras Game Consoles MP3 Players GPS Devices	Mobile Phones Tablets Laptops/Desktops Cameras Game Consoles MP3 Players Headphones
Multi-Gadget Policy	Up to 15% discount Family Coverage 25GB Online Data Backup	Up to 15% discount Family Insurance Available	Separate Policy Family InsuranceAvailable	Up to 15% discount
	Details	Details	Details	Details

Things to look out for

 Pricing 

While the pricing of your gadget insurance always depends on the company you choose and the device you need to cover, many of the basic gadget insurance coverage options in the UK are similar. This makes it easy to compare pricing by getting quick free quotes from the insurers directly.

Comparison sites don’t always give you the full picture. By going to each insurer’s site directly, you can get a much more accurate idea of pricing for the coverage you need. Also, you will most likely get the best deal when working directly with the insurer.

Basic iPhone 5S coverage policies from the top gadget insurers in the UK can range from £4.99 to £9.00 or more per month. For laptops, gadget insurance policies can cost anywhere between £7.99 and £12.00 depending on insurer and laptop value. Most insurers offer a discount for multiple devices and some like GadgetCover provide the first month of coverage for free. 

Claims Processing

It is also very important to look at the claims process and payout levels of potential insurers before making a final decision. Most insurers have a maximum coverage amount high enough to cover any laptop or iPhone you can buy, but range in the standard excess they charge on gadget policies. At ProtectYourBubble, the standard excess fee is £75 for laptops and £50 for mobile phones.Other companies may base their excess fee on of the specific value of the covered product.

When you need to file a claim, you want the process to be as painless and simple as possible. Although most gadget insurers follow the same general procedure for claim filing, there are key differences that should be considered. For example, in all claims of theft, the customer must notify local police within 24 hours of discovery. In claims of loss, customers must always contact their network provider immediately or within 24 hours of discovery.

After these standard requirements, the detail of the information that must be provided to the insurer to file a claim can vary. Some gadget insurance policies require confirmation from a network provider detailing the date and time of your last use. Others require that you provide proof of purchase for not only your gadget, but any other accessories you’re claiming as well.

Once you have filled out any necessary claim forms, you can typically expect your replacement in two business days or 48 hours. Generally, repair claims take slightly longer. Protect Your Bubble tries to perform repairs within five business days. If claim processing time is important to you, make sure that you ask for your potential insurer’s terms regarding this issue. No matter how good you feel about your choice of insurer, always remember to read the full terms and conditions of your policy. 

Policy Details: Coverage

Coverage and some other policy details may be the most important aspect of choosing the best gadget insurance in the UK. You should take some time to think about what types of coverage are absolutely essential to you. Almost all policies cover accidental damage and breakdowns when the gadget is returned to the insurer; however, theft coverage is not always included in an insurer’s standard/basic policy. Some insurers only offer theft protection in their premium policy packages.

Unauthorised use, travel, accessories and malicious damage are also excluded from some of the basic gadget insurance policies. GadgetBuddy’s standard policy for example does not cover any travel related claims.

Loss is typically not covered in a basic gadget insurance policy. Gadget Cover and ProtectYourBubble both offer it as an option with an additional premium. Some gadget insurers only cover loss in their more expensive policy packages. Watch out for other typical exclusions from gadget insurance policies such as cosmetic damage, lack of reasonable care, deliberate neglect, gradual performance deterioration and more. 

Policy Details: Conditions and Limitations

Although there are similarities in the conditions and limitations of most policies, each gadget insurance

policy contains a unique set of important details. One common condition found in many policies involves the age of your gadget. Gadget Cover’s standard policy states that “gadgets must be less than 18 months old, purchased as new, or if refurbished, purchased directly from the manufacturer, and with valid Proof of Purchase at inception” to be covered.

Something to watch for is the exclusion period. Some insurance providers, including Protect Your Bubble, don’t allow any claims within a few weeks of the policy start date or any policy changes. See the excerpt below from ProtectYourBubble:

Any claims made during the exclusion period. This is the period during which, if your gadget is stolen,lost, damaged or breaks down you will not be able to claim. This period is:

• 14 days after the start date of your policy

• 14 days after any change to your policy in which you add a gadget to your policy or replace your current insured gadget or add loss cover – the exclusion period applies to the gadget you add

Other common conditions and limitations include claim frequency limitations, detailed claim procedures, liability limitations and more.

Policy Details: Cancellation and Automatic Renewal

Almost all gadget insurance policies allow for a 14-day “cooling off” period that allows users to cancel their policies within 14 days of receiving the insurance documents. After this 14-day period, most insurance providers charge a small administration fee. If you’ve already paid the annual premium, most insurers simply refund a pro-rated amount of the premium.

It’s also important to note that most policies include an automatic renewal function. This means that, unless you actually tell your provider that you need to cancel, your policy will automatically renew at the end of each term. If you have an annual insurance contract, your provider should contact you approximately one month before the end of your current contract. Some insurers provide extra incentives for renewing your annual policy at least one month before the end of the contract.

What Next? 

Having evaluated the available gadget insurance options based on what you need and what you can afford to pay, it’s time to buy your cover. The sooner you purchase insurance, the sooner your devices will be covered. It’s best not to put these things off – the last thing you want is for your gadget to break while you’re still trying to pick a policy! Figure out which provider is the best fit for you and invest in gadget insurance to protect yourself and your gadgets.

This article was a research project by Josh Cooke. Josh has worked in the IT industry for over 20 years and has broken many many smart phones. He travels for his work and his gadgets get rough treatment while travelling. Sick of the expense of regularly braking/losing/pouring lemonade on his Gadgets, Josh decided to take a serious look in to Gadget Insurance to cut down on the cost of owning his gadgets.