We never actually know the real worth of gadget insurance until we have actually lost an expensive gadget of our own. Instead of learning the hard way, you can get gadget insurance for yourself.

Worth of Gadget Insurance:

Today most of us possess a lot of valuable gadgets right from mobile phones to computers and other widgets that go to make our life simple and easy to live. Losing them would make life really miserable for any one of us. We rely so much on such gadgets that life could go hay-wire without them. The gadget insurance is an innovative product that can help you protect your gadgets and electronic equipments against theft, loss and accidental damage as well. The added bonus part of such insurance is that it will protect you against breakdown after the manufacturer’s warranty expires.

Cost of Gadget Insurance:

Usually the insurance companies will fix a maximum coverage amount for each claim you can make and also the number of claims you can make within a period of 12 months. The cost of claim varies according to the number of gadgets you are insuring, the value of these gadgets etc.

Coverage of Insurance:

The gadget insurance meets your demands and needs for getting insurance against the cost of replacing electronic gadgets that are stolen, lost, damaged accidentally or even had a breakdown. The insurance is provided for the period of coverage subject to the terms and conditions as well as limitations as laid down by the company or as amended at the time of agreement. The insurance company expects you to take reasonable precaution to prevent such accidental loss or theft of your electronic equipment.

What Gadgets can be covered?

       Most insurance companies help you to insure all your electronic gadgets and the most common ones include:

                               Mobile Phones

                               Palm Pre

                               iPods

                               Satellite Navigation Systems

                               DVD Players

                               MP3 Players

                               Cameras

                               Camcorders

                               Bluetooth headset

                               iPhone

                               Satellite recievers

                               Personal Media Players

                               Laptops

                               Flat Screen TVs

                               PSP’s and other portable consoles

                               PDA’s

Special Conditions for Gadget Insurance:

*         The electronic item you require to insure must be less than 36 months old. You need to produce valid proof of purchase when the policy is started.

*         Transfer of gadget insurance to any other person requires to be notified to the insurance company and proper permission requires to be attained from them as well.

*         You can claim for replacement policy. This will ensure that insurance company replaces your damaged or lost electronic gadget with a similar one or at least a comparable one of the same value.

*         You need to inform the police about such theft within 24 hours of discovery of the same. Obtaining a complete incident report of such theft, accidental loss or malicious damage from the police is very essential for processing the insurance claim.

*         If the gadget you have lost is a mobile phone or PDA, you need to report the incident to your airtime provider as well.

Remember that home insurance does not necessarily cover such expensive gadgets and hence it is always beneficial for you to avail gadget insurance in time.