- Date : 27/07/2016
- Read: 3 mins
If you’ve ever faced the fear of a broken phone screen or damaged phone software, gadget insurance could be the money-saving hack you’ve been looking for.
Of all the booms that the 21st century has been subjected to, the most prominent one of the lot would probably be the technological boom, owing to the fact that the average urban individual, on his/her person, is almost certainly going to carry electronic equipment probably worth several thousand rupees.
This includes all your favourite gadgets, including laptops, phones, tablets as well as cameras. The cost of replacement due to damage or loss of even any one of the said devices can end up costing a lot, sometimes as much as half the cost of the device itself.
Thus, let us introduce you to a phrase which will end up being your new best friend: ‘Gadget Insurance’.
Gadget insurance can help you save several thousands of rupees and provide you the most essential aspect of digitization: peace of mind.
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With the advent of several kinds of insurance companies in the market providing unlimited claims for any kind of problem and often, worldwide cover for your devices, you can finally be at peace while leaving home with the very expensive devices that you ardently require.
While opting for the insurance policy that is suited for you, there are obviously several things that you should be keeping in mind to ensure you have maximum satisfaction.
Typically, a good insurance policy for a gadget should be flexible enough to cover your losses in case of damage, and irrespective of age of the device.
You are also advised to always purchase an additional warranty to the original company-provided warranty, as several issues such as theft or water-damage may not be covered by the manufacturer’s warranty offer.
As of now, most of the premier insurance agencies for your gadget will provide you the following facilities, which you should definitely tick off your checklist, before purchasing. These include:
- Accidental damages (up to 75%, depending on reparability of handset parts)
- Burglary/Theft (up to 55%, depending on production of an appropriate FIR)
- Water/fluid damage
- Fire damage
- Software and hardware damage
However, there are some things that are usually not covered, unless you request for the same or are willing to pay a higher price:
- Damage caused to accessories such as charger, earphones, Bluetooth, etc. may not be covered
- Damage caused due to natural calamities such as earthquakes or floods
- Damage caused by animals
In addition to the above, companies will also offer you several other benefits, such as anti-virus protection and pick-up/dropping of your gadget for free, depending on the price of the cover that you have opted for.
The cost of gadget insurance policy depends entirely on the value of your handset. It can start from as low as Rs 350 for handsets that cost between Rs 1500 – Rs 5000, and can go up to Rs 4300, covering handsets priced between Rs 45001 – Rs 56000.
Should you buy it?
In the unpredictability of the modern world, Insurance has gradually made the transformation from being a liability to being an absolute necessity. In this regard, it is imperative that you undertake adequate research and make a well-informed decision to choose the plan that is best suited for you and your devices.