Gadget Insurance - New for old

BigZander

Hi All,

This is my first post.

I'm hoping that someone might have the answer I'm looking for.

I'm after Gadget Insurance (it can be bundled with a Bank Account; however there are a few stipulations.

It needs to be new for old.
It needs to have the ability to cover a high value item (laptop - £4k).
Ideally, if bundled with a Bank Account, include breakdown cover.

Regards

rigolith

Just keep in mind that new for old doesn't mean you get upgraded to the current model, it means you get an equivalent to the X years old one.

Have you tried comparison sites?

DullGreyGuy

Any reason not to have it just covered under home insurance inc PP? 

hewo

I am also interested whether anyone has any info relating to the OP's question for gadget insurance.

I suspect by 'new for old' he meant that any replacement device would be a new item as opposed to, for example, a Grade A refurbished item. No comparison site allows searches to be filtered in this way and typically you need to look in the small print to find out.

In response to rigolith, new for old can and does result in an upgrade. For example, in 2019 I claimed on my home contents insurance for a damaged iPhone X that could not be economically repaired. Since Apple stopped selling the X in 2018, the insurer sent me a new iPhone XS as the replacement because my policy was new for old.

To date I have not come across any gadget insurance policy that provides a similar guarantee.

rigolith

They only upgrade you if they have no choice. Don't expect it because if they had access to any old iPhone X stock that's what they would have given you.