Gadget Insurance

scj

I am looking to travel abtoad next month and with my family will have a few expensive items with me, Laptop, tablets, phones etc.

I have looked into insuraing them as part of the travel insurance but that hasnt worked out, its not easy to find insurance that will cover this high a value of items.

The solution seems to be Gadget Insurance, and the one that seems to appeal the most is Trov as I only need to pay for what I need, not the rest of the year.

I am a bit confused though and cant seem to get a straight answer from them.

As an example, I am trying to add an iPhone X, these retail for £999 and if your lucky you may pick one up for as low as £959, yet despite the fact its only been available for 4 months and i have only had mine for 2 months, the only price I can get from Trov is what they call Market Value, which is £815. That seems quite a bit lower than what I believe its value to be.

I have contacted Trov and the answer I had was that they wouldn't pay out Market Value if I was to claim when asked what they would pay, they told me whatever it cost to replace it.

This just didn't seem right to me, should I be worried, every item I have looked at on their site seems to be valued at around 20% less than the replacement value.

I am concerned that if I use them for insurance and make a claim I am going to really out of pocket.

Does anybody have any advice or experience, I am quite new to this and just want to make sure I am properly covered

Simon

Aretnap

They are presumably valuing it on the basis of it's second hand value - as far as I can see their T&C's do not specify new for old cover so you would get a second hand replacement (assuming they could actually find a second hand model of such a new phone - if not they'd have to give you a new one).

If you have home insurance then a good alternative to gadget insurance is simply to make sure the items are covered under the personal possessions add on. It is likely to be cheaper, and the vast majority of home insurance policies will replace the items on a new for old rather than second hand basis.