Is Your iPad Insurance Really Worth It?

Cutting out expensive gadget insurance is one saving that home insurance can offer.

The latest gadget cover is offered by O2 – for £10 a month tablet owners can insure against theft and damage, while an extra fiver adds in protection against loss.

Tablet owners will pay out between £120 and £180 a year for the cover, which is probably already included in their home insurance.

Most home insurance policies already include this cover and more for the same cost as O2 is charging just to cover a tablet.

O2 policy restrictions also only cover iPad and Samsung Galaxy tablets that are less than 90 days old.

More than half a million customers already insure mobile phones through O2.

For more than 80% of accepted claims, the customer picked up a replacement device the next day.

The O2 Money team also recently launched O2 Wallet – the new way to send and receive money, compare prices and shop via your mobile.

The main difference between home gadget cover and other forms of insurance is the replacement time for the tablet – O2 will provide an overnight replacement where home cover will take longer to process a claim.

Big electronic gadget users, like students, may find they have cover included in their own contents insurance while living away at university, or if they still live with their parents during breaks, on their parent’s home insurance.

The lesson is check out existing home insurance before shelling out for expensive standalone gadget cover – read the policy notes or call the insurer for clarification.

Even if the cover is not included as standard, it’s likely to be cheaper to add gadget insurance to existing cover than taking out a special policy.

With the average cost of a tablet about £399, that specialist cover costs almost half the cost of buying a new one.

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One Response to Is Your iPad Insurance Really Worth It?

  1. Gadget insurance is not very clever for anyone. On the example above £180 to cover a tablet that could cost as little as £329 is a massive expense. After two years you could have bought another tablet with change to spare. Get your possessions covered in your home contents insurance, put the excess at nil and include cover for away from home if you need it. That way you are covered and it will cost a small fraction of these expensive gadget policies.

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