Help! Gadget Insurance

strangeshape

Hi,

Last week I bought myself a shiny new MacBook after a lllooonnng time of saving up hard! Obviously I want to insure it, along with a couple of other gadgets, but what is confusing me is whether I would be better off going for gadget insurance or going for contents cover (which I also don't have....I know I know!) I'm a tenant living in rented accommodation and have always been put off having insurance as I've never stayed put long enough, nor never really had any contents worth insuring, but now that has started to change...what I don't know is whether contents insurance would cover my gadgets in the same way that gadget insurance would....e.g, if I'm walking down the street with my Mac in my bag and I get mugged, would I be covered under contents insurance. Basically I'm a total novice with this whole insurance thing and any advice would be hugely appreciated!

p.s - please don't tell me off too much for not having contents insurance! :-s

Kate

InsideInsurance

Contents insurance, with the appropriate add ons can cover you for accidental damage, theft and loss world wide (up to X days outside the home)

Gadget insurance sometimes incorporates an extended warranty (ie breakdown) which Contents insurance wouldn't include but typically doesn't include loss but then hopefully your less likely to not notice the fact that its fallen out of your bag -v- a ring falling off a finger etc.

Gadget and mobile insurance is typically indemnity based (ie you get the secondhand value) where was Home is normally New for Old

The other considerations are:

1) Gadget insurance is normally much harsher on T&Cs and their application as too many people "accidentally" break their gadget fairly soon after the release of a newer model etc

2) Home insurance has the concept of claims history, up to 5 years, so if you do make low value claims you may find the loaded premium quickly outweighs the settlement received especially if you have a large excess (ie its good to cover your bag being stolen with you laptop, mobile, camera, purse/ wallet etc but not worth claiming if you just dropped your camera)