10 February 2016

Can home insurance cover your tech?

Have you ever stopped to think about the total value of your technology?

80s video game

The average person* now owns thousands of pounds worth of gadgets, along with vast amounts of digital content in the form of e-books, songs and films stored within them. With devices used and taken out of the home so regularly, it can be worrying to think of what could be lost if they were to be damaged or stolen.

But, if you have a contents insurance policy in place, your technology – and any downloaded content – could already be protected.

The average person* now owns thousands of pounds worth of gadgets, along with vast amounts of digital content in the form of e-books, songs and films stored within them. With devices used and taken out of the home so regularly, it can be worrying to think of what could be lost if they were to be damaged or stolen.

But, if you have a contents insurance policy in place, your technology – and any downloaded content – could already be protected.

The value of technology

We Brits are involved in a love story with technology, with the majority of us counting smartphones, tablets and laptop computers among our most-treasured home possessions.

The average teenager** now owns a selection of digital devices, including TVs, games consoles and digital cameras. And, at least one in three children in Britain owns their own tablet computer, says independent regulator and competition authority Ofcom.

Combine with this all the other gadgets belonging to other family members as well as downloadable content such as e-books, music and games, and the real value of the technology sitting in our homes is likely to be a tidy sum.

Home insurance and technology

While there is a growing range of specialist gadget cover on the market, you may not be aware that your technology and digital content is quite possibly already covered under your current home insurance policy.

With most policies, any technology within the single value limit will be protected in the event of theft and, often, accidental damage. More expensive single items can usually be added to the policy.

If you like to use your laptop on the train or listen to music on the bus, check whether the personal possessions cover within your home insurance policy protects portable contents when they are out of your home.

Protecting your digital world

With a song costing 99p and e-books worth up to ten times that amount, the value of the digital content stored within our devices can soon add up to hundreds – if not thousands – of pounds.

And yet digital downloads are often not considered when assessing the value of our technology.

Your home insurance policy could, however, pay out if your digital content is lost through theft of a device or accidental damage.

‘If you have contents insurance, separate gadget cover for your devices or digital content cover might not be necessary,’ points out Darren Black, Senior Product Manager at Nationwide.

The future of your files

To make any claims easier, keep online receipts of digital content as most insurers will require evidence that you owned any lost content in the first place.

Regularly backing up any digital content on another device or on cloud-based storage is a good habit to get into and makes it easier to recover any files if a device is stolen or damaged.

If you have a particularly extensive digital collection, speak to your provider to find out more about the best cover for you.

Find out more about Nationwide contents insurance.

Alternatively, why not get a quick home insurance quote online?

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