Amex gadget insurance

N9eav

American Express. Just offered me £9.99 a month gadget insurance.

Basically (until I read the small print) Every phone, laptop, camera, I-pod etc is covered for loss or damage with no excess.

This applies to every person living in my household (6)

Sounds OK as we have 3 i-phones, 6 laptops, and a bunch of other toys

Any thoughts?

InsideInsurance

As always, read the T&Cs, they offered me the same and just waiting for the terms to arrive before deciding if to take it or not personally.

On the surface it seems ok price but personally want to see limits, exclusions, if it is new for old or indemnity based, geographical limits etc.

Morph4610

Full details are on the website

http://www.americanexpress.com/uk/personal/insurance/my_essentials/myessentials.shtml

Previous experience I've had suggests the onus is very much on the policyholder to provide proof of ownership of any gadget they wish to claim for plus following procedures like reporting thefts to police within 24 hours etc. I'm not saying 'don't buy' just understand how claims might work

InsideInsurance

£1,500 for the maximum single event is a tad low if your thinking of a bag with a couple of items being stolen and 24 hours for notification to the insurer as well as the police a pain.

Seems to be an indemnity policy as well rather than new for old.

On the plus point, no excess and so may be worth it if you have a series of low value gadgets that wouldnt be worth claiming on your home insurance for.

N9eav

That was what I was thinking. I have good home insurance, but they don't cover phones. I have phone insurance as a package from the bank, but I want to change to a new account and so the Amex might fill the gap.
If its not new for old, they can forget it

InsideInsurance

Your bank one probably isnt either, can tell you for a fact that the Barclay's one isnt as I've had to claim on mine in the past