Many people love Apple products, especially iPads, seeing them as sleek, desirable and status-conferring. Others find such object-worship hard to understand.
But while opinions differ on the attraction of Apple gadgets and other tech gear, everyone can agree that they don’t come cheap; the most expensive iPad currently retails for £730, for example. That’s a very valuable item to be carrying around. Imagine if you lost it, broke it or had it stolen and found out that your insurance won’t cover you.
Many people now take hi-tech mobile devices with them everywhere and their combined value can run in to the thousands.
But won’t I already be covered?
If you already have home insurance you might already be covered, at least when you’re at home. But as items such as iPads are easy to lose and attractive to thieves, there’s also a good chance your insurer will exclude them, or at least not provide cover for them when you’re out and about.
Here’s what to check for when it comes to financial protection for your iPad and other mobile devices:
1. Item exclusions
Firstly, and most importantly, check with your insurer whether your iPad or other type of gadget is covered. It wasn’t long ago that many insurers excluded them from their policies as they’re so easy to break or steal.
You might have to indicate that you own an iPad, or similar, when buying your cover so the insurer can take it into account when working out your premiums. Or you might have to get it covered separately. Make sure you give them the exact model.
2. Accidental damage
Some policies include accidental damage as standard, but many don’t. Dropping an iPad and damaging the screen to the point where it’s unusable is very common, for example, and can be costly if you’re not covered.
If your policy does include accidental damage, check if it’s only for when you’re inside the main building, or if it includes gardens and outbuildings too.
3. Away from home cover
Again, being covered when you’re away from your home isn’t always standard in policies. Often it’s an ‘add on’ that you have to specifically request and will cost more.
You should check you’re not already covered while being away from your home. You might be if you have a credit card or bank account of a certain type. If you’re not, and are prone to losing or breaking items, it can be useful, especially where gadgets are concerned.
4. Item limits
As mobile tech like iPads can be so expensive, there’s a chance the item’s purchase price might exceed the single item claim limit most policies have. It’s worth checking as some limits can be as low as just a few hundred pounds.
5. Away from home limits
If you opt for, or have already got, away from home cover in your policy, be aware that the claim limits (the amount per item, and also in total, that you can claim for) can differ from the limits that apply when you are in your home.
6. New for old
If you want to ensure you receive the exact same version of device as you had before, or at least the latest equivalent, you need what’s known as ‘new for old’ cover (i.e. the insurer will replace the ‘old’ lost, stolen or damaged item with a totally new version, even if it’s gone up in price). New for old cover is standard in many policies, but by no means all.
7. Excess and ‘no claims’
If you’ve opted for a large excess (the first part of any claim the insured has to pay) to keep you premiums lower, then claiming for an item worth several hundred pounds might not be worth it.
Let’s say the device you’re claiming for costs £350 to replace, and the excess on your policy is £300, then you’re only going to get £50 from your insurer. Not only would you have to bear the brunt of most of the loss, you’d also lost your no claims discount when you renew your cover.
Consider lowering your excess to, say, just £50 if you’re very concerned about your gadgets and possessions. It might cost you more in premiums, but could be worth the peace of mind it provides.
Our dedicated customer service team is always on hand to help – either online or over the phone. Whether you want assistance in finding the right policy or even handling a claim, we make sure it’s all handled by experts! For more information, you can call our experts on 0330 0600 600 or visit www.policyexpert.co.uk/contact for more ways to reach us.
Published 4 November 2013