You may be aware that most home insurance policies provide you and your family with some cover for mobile phones when you are out and about. Levels of cover vary, there will be limits, and not all policies do have it, but it is likely it will be included under your contents cover if you read the details. So does that mean you shouldn’t bother with separate gadget insurance?
It is still worth thinking about gadget insurance if you have lost or damaged your mobile in the past and think you might again – or have a teenager who might not take as much care of his or her phone as you would like. Claiming under your home insurance policy will mean you lose your no claims discount, which may be valuable if you haven’t claimed for a long time, or never made a claim. Your no claims discount applies to the rebuild value of your property, and the replacement value of your contents, so it may be a large saving every year – potentially more than you will be able to claim for your phone after you have paid the excess on the policy.
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