Barclays - Gadget Insurance

rajeshk4u

I have been paying the monthly fee to Barclays for mobile phone and gadgets insurance (Tech Pack).

I am wondering it this is worth it?

I am confused about their terms and conditions, because they say they will only cover items which are less then two years? Is that right. My tablet is about 4 years old now. So it my phone. Is it only good for people who regularly update their tech gadgets?

I also notice the excess was £75... which might not be good for older tech items?

I may have misunderstood their terms and conditions?

I don't know if their cover is old for new?

rajeshk4u

I also buy used gadgets on eBay e.g. phone or tablet. SO more then likely over 2 years old.

jonnygee2

My tablet is about 4 years old now. So it my phone. Is it only good for people who regularly update their tech gadgets?

I don't know how much it costs but it doesn't look like it's worth it? How much would it be to replace these with similar items of ebay? How much is the policy per year?

There's usually no point buying insurance for things you can afford to replace, or for which the cost of insurance is likely to add up to more to the replacement cost.

If you have some expensive gadgets that you cannot easily replace, but you need, then insurance makes sense. Otherwise, just take the risk, look after your stuff well, and if you do lose something fork out to replace it with whatever you can comfortably afford, even if its a downgrade.

mab3000

To summarise their pack, it provides cover for up to 4 mobile phones and an unlimited number of gadgets worth up to £1500 each gadget, for the account holder (including joint account holder), domestic partner/spouse and children under 18. The gadgets must be under 5 years old. There is no age limit for mobile phones. You do pay an excess of £75. They will either replace or repair the product.

Also, if you are a regular overdraft user, if you have the tech pack, you do get the first £200 of your overdraft fee free, whereas you pay 75p per day otherwise (unless you are a premier account holder or have the Travel Pack as well).

Flobberchops

mab3000 summarised it very neatly. I would say the pack is good value if you have multiple phone handsets, or if you and your family have multiple tablets, laptops etc. The optimum situation would be a married couple with two children, a phone each, and multiple other devices. If you're a single person with just one phone and very few other devices (or tend to buy preowned, or upgrade less often than every couple of years) then you may struggle to justify it.

Alex1982

Can you clarify how much you're paying per month?