Is it Worth Getting Your Tech Covered in Travel Insurance?

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If you’re going on a trip, you’re likely to consider purchasing travel insurance. The UStiA reports that Americans spend almost $4 billion on protection during their outings. You, too, will want indemnity in the event something unexpected happens. 

For instance, if you have to cancel your flight, you can claim a fares’ reimbursement. You’ll also receive compensation if the airlines lose or delay your luggage. In the United States, more than 16% of complaints filed were for baggage-mishandling. 

Most people opt for cover during their excursions abroad for medical reasons because emergency treatment can be costly. However, do you know that you can also get coverage for your tech if they’re stolen or damaged? 

Travel Insurance for Gadgets

If you’re taking expensive electronics on your journey, you can get cover for your smartphone, camera, or laptop. Some companies offer this protection by categorizing your tech as ‘valuables.’ Confirm with your agent or broker to ensure that the specific item is covered. You can also review the info provided in their contract.

Your insurer will reimburse you if the devices are lost or stolen to the sum insured’s limit. Some policies will not pay in the event of a loss, but it depends on a case-to-case basis. You can also receive compensation if your equipment is damaged, provided you didn’t drop it.

Adequacy of Cover

Be aware that most standard travel insurance coverage doesn’t protect all your gadgets. The number of devices covered and their value varies from one company to another. There’s usually a limit to the amount you can recover in a claim.

When insurers provide protection, they usually won’t pay enough to cover your tech’s replacement cost. You may have to get a separate policy for your electronics to ensure you’ll get sufficient indemnity in the event of a mishap.

Exclusions

It’s standard practice that companies will not offer comprehensive coverage in all their plans. Don’t take for granted that all policies are the same. It would be a mistake to assume that the protection you purchase will safeguard your interests if something happens to your tech.

It’s worth noting that insurers usually apply the following exceptions:

  • If your device fails because of a manufacturing defect, you’ll have to fall back on the product warranty and not your policy.
  • You’re only allowed to make a certain number of claims within a specified period.
  • Compensation only applies to the device. You won’t be indemnified for the loss of data.
  • Normal wear and tear issues are not covered.

Is it Worth Insuring Your Tech?

While your data is irreplaceable, you might want to recover the cost of a replacement device. With electronics being very affordable, you’ll have to do your math and decide if the total premiums, including excess, make it worthwhile. 

Even though your gadgets are insured, it’s in your best interest to take precautions to keep them safe and secure. You’ll avoid experiencing the stress and hassle of losing your tech when you need it.