Most university students have at least two or three gadgets they use regularly. Things like like laptops and mobile phones have become essential these days, so preocting them from loss and damage with a student gadget insurance policy might be a good idea.
Having an insurance policy means you won't have to find the money to replace your equipment if you lose or damage it.
Many policies also offer a quick turnaround time on replacements, so you won't be without your tech for long.
Most insurers offer different levels of cover depending on the number of gadgets you need to insure, and the level of protection you want.
A standard policy usually cover:
Pay a bit more for a mid-level policy, and you may also get cover for:
If you want the highest level of protection, a premium policy gives you all that's covered in standard and mid-level policies, plus cover for loss.
Check the terms and conditions to make sure it gives you the cover you need. Here are a few things to look out for.
A more basic policy might not offer theft or loss cover. So if you leave your kindle on the bus, you won't be able to make a claim.
You may only be insured during term-time
Some insurers only cover your gadgets during term time, so make sure you take your gadgets home with you. Or get a policy that covers them all year long.
If, for example your laptop is stolen from your room in your halls of residence, but the door wasn't locked, your claim may not be accepted by your insurer.
An excess is the amount you contribute towards a claim before an insurer pays out. There may be different excess levels for different claim types, so check the small print to find out what they are.
An insurance policy will usually have some limitations such as:
When you take out a policy, the insurance company will usually ask which gadgets you want covered under the policy.
If your old Windows laptop gives up halfway through writing an assignment; and you replace it with a new MacBook Air, let your insurer know. Your new purchase might not be covered otherwise.
There are a few ways you can protect your gadget stash, although they may not all provide you with adequate cover.
Your parents' home insurance policy - You may be thinking you can save yourself a few quid because your stuff will be covered under your parents' house insurance policy, but this isn't always the case. The policy might not include student cover, or if it does, it might not cover what you need.
Ask your parents to check the terms and conditions to see whether your gadgets are covered while you're living away from home.
Student insurance - You could take out a policy to protect all your belongings, rather than just your gadgets. Again, check a policy provides cover for outside your home or halls, and that protection is year-round and not just in term time.
Uni halls content insurance - Often, halls of residence give you free basic insurance. It's usually very limited, and only covers a number of items; when they're in your room.
Always place your gadgets somewhere people can't see them when not in use.
If your stuff gets stolen, this will help police identify it should they recover it.
You can also track your devices using a tracking app or pre-installed security measures like Find My iPhone/iPad.
Use a UV pen to mark your belongings so they can be returned if they're recovered after being stolen.
You'd be amazed how many claims are refused because there was no forced entry.