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The gadgets you travel with can cost thousands of pounds. How much will it cost to insure these precious items against theft, loss and damage? We’ve gathered quotes for optional Gadget cover for dozens of travel insurance policies to give you and idea of what you should expect to pay.
Do You Need to Buy Optional Gadget Cover with Travel Insurance?
You may get cover for your gadgets through standard Valuables or Gadget cover of your travel insurance policy (or even through your home contents cover). But if you need or want to buy extra cover to protect your mobile, iPad, laptop, etc. whilst travelling, here's some data to help you recognize if you’re getting a good deal or not.
Cost of Gadget Cover: Single Trip vs. Annual, Multi-trip Plans
According to our analysis, the average cost of optional Gadget cover on travel insurance is just over £24—but you'll typically pay more on Annual, Multi-trip policies and less on Single trip policies.
The cost to insure your gadgets for travel throughout the year on an Annual, Multi-trip travel insurance policy is £34.76 but ranges massively, from £9.50 for £1,000 of gadget cover from CoverForYou up to £82 for £3,000 of gadget cover from Sainsbury's. Regarding trip lengths, this type of cover will protect your gadgets under the standard terms of the policy (e.g., an unlimited number of trips up to 31 days each).
How Much is Optional Gadget Cover on Travel Insurance?
In most cases, optional Gadget cover for Single trip holiday cover will cost less than adding the option to an Annual, Multi-trip policy (the exception might be a Single trip of exceptionally long length). Our data analysis shows that you should expect to pay around £13.48 for optional Gadget cover on a Single trip that is 7 days in length. Longer trips will cost more to insure, since there’s a higher chance of a claim the more days you are travelling.
The Cost of Optional Gadget Cover Depends on the Amount of Cover
We found that the more gadget cover you have, the more the insurance will cost—which does make sense, of course. The average cost of £1,00 of optional Gadget cover is £27.30 for Annual, Multi-trip policies and £10.30 for Single Trip policies. Doubling the cover to £2,000 causes the premium to increase by only 13% when you buy an annual policy, making £2,000 of cover better value than £1,000 of cover—for an extra £3.40 you get an extra £1,000 of cover on average.
Gadget Cover Premiums by Amount of Cover
|Total Gadget Cover||Annual, Multi||Single|
When choosing how much gadget cover you need, keep in mind that the limits on most policies are "per policy" not "per insured person". You need a cover limit that will protect the gadgets for all insured people on your policy.
Do Gadget Cover Prices Vary by Where you Buy?
According to our research, you get marginally better value buying optional Gadget cover from a comparison site than from an insurance provider directly. Prices are around 5% cheaper from a comparison site—yet you get 6% more gadget cover on average, £1,593 of total gadget cover from a comparison site vs. £1,503 direct.
As you can see in the following chart, however, comparison sites really stand out for good prices when it comes to Annual, Multi-trip policies. On the other hand, adding optional Gadget cover to Single Trip policies is cheaper when you buy direct than from a comparison site (but only by £.90).
Buying Optional Travel Gadget Cover from a Comparison Site vs. Direct
|Extra Premium||Total Gadget Cover|
In order to get a picture of the cost to insure gadgets like mobile phones, tablets and laptops, we gathered sample quotes from a number of travel insurance providers that offer optional Gadget Cover: Admiral, Columbus Direct, Flexicover, Insure & Go, Travelinsurance.co.uk, Sainsbury's Bank, CoverForYou and Debenhams. We found the cost of the optional cover for both Annual, Multi-trip policies and Single trip policies; across different levels of total gadget cover (i.e., £1,000, £2,000 and £3,000); and for policies bought direct from an insurance providers website and from a comparison site (Compare Cover), where available.