Taking out an insurance policy for when you travel is a worthwhile investment. While some people might think that they can’t afford to take out a policy, the reality is that if you lose your mobile phone or device, video camera, or another electronic gadget while you are on holiday, it will be expensive to replace it.
To eliminate the risk, you can take out gadget travel insurance. Offered by most of the major insurers, gadget insurance allows you to specifically insure your gadgets in the event of loss, damage, theft, or unauthorised calls, text, or downloads.
Different Policy Types to Cover Your Gadgets
If you are planning a holiday, then your insurer can cover your gadgets in the following circumstances:
- Theft: In the event that your gadget is stolen from your person, your bag, your hotel room, or another location, you can opt for coverage that will allow you to make a claim and plan for your gadget to be replaced.
- Accidental Damage: If your gadget is damaged as a result of an accident, some insurers will arrange for the gadget to be repaired.
- Liquid Damage: Similar to Accidental Damage, some insurers will cover the costs of repairs in the event that your gadget is exposed to liquid (This is great if you accidentally leave it in your pocket when you go swimming!).
- Unauthorised calls, text, or downloads: When your gadget has been lost or stolen and someone else has used the device without your permission, you can take advantage of the unauthorised calls, text, or downloads component to your policy.
Choosing the Cover Your Need
As with most types of insurance, you need to determine what type of coverage you will need for your gadgets. There are various tiers of coverage which can cater to multiple types of gadgets. For example, you can opt for insurance coverage for that covers multiple low-end gadgets that have a specific but combined value, or you can take out insurance for single, but higher value items. So, you could opt for a policy that covers two or three mobile phones that have a combined value of $1000, or you could opt for a policy that covers a single top of the range laptop. Some policies also offer a combined coverage that includes a single laptop and multiple gadgets of lesser value.
Don’t Risk it – Cover it!
If you can’t afford insurance, you can’t afford to travel. Travel insurance for your gadgets is not expensive, and requires the allocation of only a small portion of your overall travel budget. Accordingly, take the time to research some gadget coverage options and select the one that is right for you. In the event that something happens, you will be glad that you put the policy in place so that replacement, repairs, or coverage of unauthorised expenses is all taken care of.