Compare cheap gadget insurance deals for games consoles
- Games consoles can be included under your contents insurance policy, but won't be covered outside the house
- Gadget insurance covers games consoles for a variety of circumstances, including loss, damage and theft
- Always read the small print carefully to make sure that your policy covers everything you need it to
Games consoles don't come cheap. Whether you're a die-hard Playstation fan, an Xbox enthusiast or a Nintendo nerd, choosing the right insurance could save you from paying hundreds to replace a lost console if yours ends up damaged, lost or stolen.
There are several things to consider when choosing insurance for your games console. From selecting the right type of insurance to understanding the limitations of certain policies, here's what you need to know.
Options for insuring games consoles
If you're a gamer, you have two main options when it comes to insuring your consoles - include them on your home contents policy, or opt for a separate gadget insurance policy that covers games consoles.
Covering games consoles under a gadget insurance policy
Our increasingly electronic-obsessed world has led to a rise in insurance companies that specialise in gadget insurance. This is good news for gamers - gadget insurance prices are often competitive, and will cover your precious consoles against a variety of everyday hazards.
Gadget insurance policies aren't exclusive to games consoles. They also cover things like phones, tablets, laptops and cameras. Before you buy gadget insurance for your games console, make sure that your policy covers the specific item you want to insure - retro or rare consoles may not be covered by some insurers.
Some insurance companies will offer discounts if you purchase cover for multiple gadgets with them. If you've got other gadgets that need insuring alongside your games console, this could net you some savings.
What's covered under gadget insurance?
Unlike contents insurance, gadget insurance policies cover your games console outside your home, and will usually cover accidental damage as a standard feature.
Did you know...?
- Standard gadget insurance deals rarely cover loss of data, such as music, films and games
Other circumstances that may be covered under your gadget insurance include loss, theft, cracked screens and mechanical breakdowns, such as blank screens or charging issues. Some policies also include worldwide cover - ideal if you travel regularly and want to bring your handheld console to play on the plane.
Of course, every policy is different, so read the small print carefully to ensure that the product you're buying covers you for any eventuality that may threaten your console.
There are some situations that your gadget insurance won't cover. If your gadgets are second hand or old, many insurers will refuse to insure them. There's often a limit on how old your device can be (less than 12 months is a common requirement), so make sure you're only paying to insure recently purchased consoles or you could be in for a shock when it comes to making your claim.
Cosmetic damage such as scratched casing generally isn't covered under gadget insurance. Loss, theft and damage caused by careless behaviour on your part may also cause insurers to reject your claim - you'll need to take reasonable precautions if you want it repaired or replaced.
Back up that data!
Standard gadget insurance deals rarely cover loss of data, such as music, films and games.
Digital purchases made through official distribution platforms like the PlayStation Store, Xbox Games Store and Nintendo eShop usually let you re-download content that you previously purchased through your account. However, if you're using your console to store other files, make sure you back it up using a USB drive or similar device to avoid losing your data.
Covering games consoles under a contents insurance policy
Contents policies do cover games consoles, although there are a few things to take into account.
Consoles are considered high risk items, which may limit you when it comes to making a claim. Cover for high risk items is limited to a percentage of your total claim under standard contents insurance policies. If the value of your high risk items exceeds this percentage, you may not get the full value of your items back when you make a claim.
For example, let's say your contents policy covers up to £20,000 of possessions, with a 25% allowance for high risk items. If your Xbox or PS4 is stolen along with a television, a couple of laptops, some smartphones and valuable jewellery, the value of your stolen goods could easily exceed £5,000. But because of the 25% limit, £5,000 is the maximum amount you'll be able to claim for these items.
In addition to this, most standard contents insurance policies will only insure items within the walls of your home. You may be able to insure portable items like handheld games consoles away from home as an optional add-on, but this could increase your premium significantly. So you're worried about leaving that shiny new Nintendo Switch on the train, it might be worth looking into separate cover for it, such as gadget insurance.
Is it worth insuring your games consoles?
Some gamers may choose not to insure their consoles under a separate policy. If you've got a couple of old consoles lying around the house that rarely leave the premises, it may be a better choice to include them under your contents insurance policy. Or if you purchased an extended warranty with your console, this may already cover you in case of damage, lessening your need to buy insurance.
However, if you regularly play the latest current generation games and enjoy travelling with handheld consoles, it makes sense to choose a separate gadget insurance policy that covers you in case of loss, damage or theft.
By Matt Ayres