Over 50s gadget insurance

If you're over 50, read on to find out more about gadget insurance and the things to keep in mind before purchasing

Whether it's the latest tablet computer, smartphone or e-reader, the older generation are always on the cutting edge - especially when it comes to tablets.

Ofcom's annual Adult Media Use and Attitudes Report 2016, found that older people are biggest fans of tablets, with 31% of those aged 65 to 74s using them, and 15% of over 75s.

It's no secret that baby boomers and their parents love buying the newest technology, but what about when it comes to insurance?

Tablet insurance

For many older people, tablet computers and smartphones open up the online world to you in an easy and accessible way.

One minute you can be Skyping grandchildren thousands of miles away and the next minute you can be catching up with episodes of their favourite soap, while chatting to friends on Facebook.

Expensive tablets, such as top model iPads, can cost up to £700 to replace, so insurance is essential if you want to carry on your love affair with the screen.

Things to check and consider when it comes to tablet insurance include making sure you're covered in the event your screen is cracked, and remember to bear in mind accidental damage.

Tablets are easy to use, but they're easy to break too and repairs can be costly.

Smartphone insurance

Mobile phone insurance varies massively depending on the type of phone you have; whether it's an iPhone or an Android, and the model you have.

If you're a tech junkie and you're always the one waiting for the latest iPhone or Samsung to hit the shops, then you'll need a different level of cover to someone who's happy to get by with their old model.

E-reader insurance

Popular e-readers such as Kindles and Kobos cost around £100-200, so before taking out insurance for an e-reader think about whether it's justified.

Look into the cost of the excess; if it's a lot, it may not be worth claiming in the event your e-reader is lost or broken.

Insurance from a retailer

When buying your gadget from a retailer, directly from a manufacturer, or online, they'll probably offer you the chance to buy insurance from them.

This might seem like the best option as they know the model number and the details of your purchase, but look into the level of cover offered - it may not be sufficient for your needs and can be overpriced for the cover offered.

Shop around before taking out insurance. There are many options out there, you just have to find the right one for your needs and budget.

Gadget insurance

Gadget insurance offers dedicated cover for your favourite pieces of technology. If you're reliant on your tablet or smartphone and need it replaced sharpish, then gadget insurance may be for you.

Think about whether you could afford to replace your smartphone or tablet out of your own pocket in the event it was lost or stolen. Or consider if you'd be able to manage if you had to go without it.

If no is the answer to both of those statements, you should definitely consider gadget insurance!

What gadget insurance covers

Gadget insurance can give an extra level of protection to your treasured pieces of tech.

Accidental damage
You'd be covered for loss and theft as standard, but gadget insurance will also offer a level of accidental damage cover. Depending on the policy, you may be covered for a new device, a refurbished model or repair.

As well as covering your actual device, gadget cover can protect accessories like expensive headphones and keyboards.

Multi-gadget cover
If you own a smartphone, tablet and e-reader, then you can cover them all under one policy with multi-gadget cover. Multi-gadget insurance can be especially useful if you need to insure the children's gadget as well as your own.

Home insurance

While most home insurance policies will offer some level of protection for your gadgets, it's up to you to decide whether or not that's enough for your needs.

Before relying on your home insurance for gadget cover, think about how much a claim could cost you. Work out the amount of excess you'd need to pay - it may be more than the gadget is worth - as well as whether or not the cost of your policy could rise in the future.

If you do decide to use your home insurance, make sure you add up the cost of all your gadgets to ensure the amount is covered under your policy. If you have any gadgets worth more than £1,000, these will need to be named separately.

Premium bank account or credit card

Many over 50s will pay for a packaged or premium bank account, which may offer gadget insurance as well as other benefits like travel insurance, loyalty points and access to preferential interest rates.

Check the terms of your account to make sure that all your gadgets are protected in the way you expect, and that your bank hasn't reduced or removed cover from your policy.

Do I really need insurance?

Whether you need insurance or not depends on if you look after your gadgets. It's fair to say that the over 50s are more cautious when it comes to the tech in their lives and they're far less likely to take their tablet to the pub or drop their phone down the toilet.

If you're careful and have managed to avoid technology-related accidents, then taking out insurance may not be worthwhile especially for cheaper gadget. You could end up spending more on insurance than the cost of the gadget, and you'll effectively be subsidising all the clumsy people with your payments.

If you are one to watch your pennies, you might want to consider what is called self-insurance. This is when you put aside enough money each month to replace your gadget in the event it's lost or stolen.

There are many options out there when it comes to protecting everything from your Kindle to your iPad, but consider all of the options before taking out gadget insurance to ensure that you are properly covered and that your precious tech is protected.

You Get Covered.
They Get Connected.

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