Gadget and Mobile Phone Insurance or Home Insurance?

“Gadget insurance serves to fill a distinct gap in the market, because standard home contents insurance does not normally cover mobile devices taken out of the home. Usually, policyholders need to take out personal belongings cover, which costs extra. In addition, claiming on these policies can result in higher home insurance premiums in the future, and excess levels tend to be higher than on dedicated gadget policies. “

 

“Similarly, many travel policies do not cover baggage and belongings as standard. Where this cover is included or added onto the policy for a small extra fee, there is usually a limit on the pay-out for individual valuable items, such as cameras and laptops.”

 

Mintel report - 2016

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