GADGET COVER

GADGET COVER: THE INS AND OUTS YOU NEED TO KNOW Plus, want to get your hands on a new iPad mini? Read on to find out how could win a £400 Apple gift card. A QUICK GUIDE TO GADGET COVER Glued to your screens? Let’s face it, most of us are these days. Yet despite our close relationship with all things tech, rarely do we give a second thought to what would happen if our gadgets got lost, broken or stolen. Could you afford a replacement? How quickly would it come? And what if something happens to it while you’re abroad? The fact is, our digital devices are at risk every day from being dropped on the floor or lost on the commute, and not all of us have the spare cash to simply order another one online. But the worst-case scenario doesn’t have to leave you at a loss, because plenty of insurance providers now offer protection for everything from stolen iPads to coffee- soaked laptops. We’ve got the low-down on what these policies look like, and whether you’re well-placed to benefit from them. What is gadget insurance? In a nutshell, it’s an affordable way to protect your essential devices. The policy usually covers the whole range of everyday gadgets, including smartphones, desktop computers and cameras, as well as Sat-Navs, tablets and even the kids’ games console. You’ll generally be insured for accidental and malicious damage (including liquid damage), breakdowns, theft, losing it, cracked screens and unauthorised calls. Insurers will usually pay the cost of repairs or, where that’s not possible or applicable, provide you with a replacement. Sound sensible? Then you may be surprised to learn that almost two-thirds of us still don’t have dedicated cover for our gadgets¹. MoneySuperMarket survey stats from 2017 also found we have a glass-half-full mentality when it comes to our gadgets - either underestimating how much it costs to repair them, or hoping they’ll be covered on our home contents insurance or the product’s warranty¹. Why might I need it? We live in an increasingly connected world which hinges on ever-more-sophisticated technology. Unfortunately, these devices come at a price, especially the most recent models, and many providers also insist you’re locked into a fairly long-term contract. If you can’t find your phone, or accidentally drop it in the bath, you’ll still have to keep up payments while also worrying about whether you can afford to buy a replacement. Even if you’re careful with your devices, you can’t keep them wrapped in cotton wool. According to Mintel, 24% of smartphone owners in the UK have broken their screen in the past two years. The stats are even higher if you’re in the 16-24-year age bracket, where it doubles to 48%² . Accidentally dropping or stepping on your gadget isn’t cheap. The cost of replacing a cracked screen varies depending on the make and model but can easily exceed £100. Repairs through the manufacturer are often much higher, for example Samsung Galaxy S8 screen repair will cost £209³ (price correct as at 19th October 2020). But even if you pride yourself on the fact you’re not accident prone, no one’s immune from pickpockets – according to police.uk, mobile phones are still the most commonly stolen item in a robbery. Aren’t I covered by my home contents insurance? Good question. According to a survey by Which?4, 69% of respondents have no idea whether their gadgets are protected by home insurance. In reality, you’ll probably have some cover, for example if your laptop is stolen during a house break-in, but this might not extend to accidents or theft away from your residence (unless you specifically ticked that option when you signed up for the policy), or unauthorised calls. In short, read the documents thoroughly to find out what is and isn’t included. Other things worth considering are whether the pay-outs will be adequate – and if the excess you’ll have to pay is as low as a dedicated gadget policy. It’s also worth bearing in mind that if you do make a claim you’ll probably see a subsequent hike in your home contents premiums when you RMT helpline 0800 376 3706 :: november/december 2020 :: RMTnews 12