By Kate Simmons
If you think of the money and time that you put into your gadgets, losing one of them could feel like a real tragedy. Many of us feel more attached to our smartphones than we do to family heirlooms—after all, they are our constant companions in moments of boredom. Insurance companies have known for years that people rarely expect property loss before it happens. Most of us hold some type of insurance for our possessions, but we probably do not know exactly what objects and situations are specifically covered by our policies. So, imagine, what would happen if you lost your beloved (and expensive) tablet device? What if you dropped it in the bathtub? What if a lightning strike hit while it was charging? What if someone broke into your car and took it? What if they broke into your house instead? If you did not know the answer to any of these questions, now is the time to get to know your insurance and your available options.
What Gadgets Can You Get Covered?
With the myriad of plans available out there, you can get almost any gadget covered these days—seriously, nothing seems too big or too small. If you are worried about your iPod, you can get gadget insurance specifically devoted to that device. The same is true for your Smartphones, tablets, etc. Believe it or not, you can get coverage specially made for your digital camera, even if you are not a professional photographer. Many of these gadgets can be covered through a form of insurance from their manufacturer. Most gadgets come with the option of a manufacturer’s warranty, and some can be covered for an additional fee from the store from which they were purchased. Look into the fine print on these options, though, since they sometimes do not cover a user-related accident, such as water damage or dropped devices. If you own a business and have many gadgets under your care, be sure to look into a commercial-grade gadget insurance to make sure all of your devices are covered.
Is It Worth It?
Before purchasing gadget insurance, you should sit down with your calculator. Even small monthly payments can really add up. If you pay just a few dollars per month to insure your Smartphone, that could multiply into hundreds of dollars over the course of a year or two. With the fast pace at which most gadgets become outdated, your phone will probably lose much of its value over that time. It may be just as easy to risk losing your phone and plan on buying a used one if something happens. If the cost of your device outweighs the price of the insurance, it is definitely worth protecting yourself. Also, if you are particularly accident prone, it may be best to bet against yourself and cover your gadgets with an insurance plan.
How Does It Work?
There are seemingly endless ways to insure your gadgets in one form or another. The best way possible is to ask questions as soon as you purchase a device. If you get a new phone, ask the manufacturer and your cell phone carrier if insurance is available. If you will be riding frequently with an iPod in your car, ask your car insurance provider and home insurance provider if they cover belongings that might be stolen from your ride. Talk to store representatives before you make a gadget purchase to see if they have a protection plan. Next, look for insurance carriers that specifically cover your device. Make sure that you keep all of your purchase documentation handy for these inquiries, since most providers will only cover new devices. These companies will often cover events that other insurance companies do not, such as damage you cause, but again, check the price and the deductible to see if the fit is right.
About the Author:
As a freelance writer and professional blogger, guest writer Kate Simmons is addicted to her gadgets. Whether it’s insurance news, Facebook or global economy, she loves to stay informed.