The dos and don’ts of gadget insurance

Do remember there is a 14-day cooling-off period; don’t go for the cheapest deal

Don’t be bullied into taking out a policy at the point of sale. Photograph: Getty Images

Don’t be bullied into taking out a policy at the point of sale. Photograph: Getty Images

 

Don’t be bullied into taking out a policy at the point of sale. Shop around and make a considered decision.

Do remember there is a 14-day cooling-off period so if you have buyer’s remorse you can address it as long as you act quickly,

Do keep receipts. Without proof of purchase making any claim can be very difficult. And making a claim on an item that is a gift can be hugely problematic.

Don’t just assume your gadgets are covered under the one policy. Most policies will insist every single item is separately listed.

Do report any loss or damage to the insurer and to your phone provider immediately. Some policies make holders report damage within 24 hours or as little as 12 hours.

Don’t forget to report any theft or loss as a result of a crime to the police. Failure to do so equals no payout.

Don’t lie and claim a product was stolen if you in fact dropped it down the toilet. That way lies a world of pain.

Do remember to cancel the policy if a new one is purchased or an existing one reaches an old age. Premiums can roll over in perpetuity.

Do consider self-insurance - put the cost of a premium aside each month and use your fund should anything go wrong. This only works if you can get through the first year or so with the product unscathed.

Don’t go for the cheapest deal. Check the terms and conditions and make sure the policy is what you want it to be.

Do check what is covered and not covered. Policy documents can be long and tedious and impossible to read. The good news is you don’t have to actually read them all. Open the terms and conditions on on a computer and search for the phrase “not covered” and the words “excluded and exclusion”.

Do pay particular attention to the get-out clauses insurance companies have. Many insurance policies won’t cover content stored on the gadget - even if it is paid for. Damage or loss caused by carelessness is not covered. Stuff left unattended in your car or on a cafe table loses cover as do “old” devices.