It Actually Makes Sense to Insure Your Tech Gadgets
Each piece of technology that you own represents a substantial investment. Even the simplest smartphone likely cost several hundred dollars. Cutting-edge laptops, tablets, and other devices can represent thousands. If you are like most adults, you probably have at least one cell phone, one tablet, and one computer. You may have more than one phone or tablet if you use them for work.
Each of these devices represents a substantial financial investment, as well as the personal value of the files and documents that you save to their hard drives. When you consider the fact that it only takes a slip of the fingers to turn $1,000 piece of machinery into expensive garbage, investing in insurance on your technological devices makes a lot of sense.
Separate Policies May Be Better Than Carrier Policies
When you activate a cell phone or tablet on a mobile plan, your cell phone provider will likely offer proprietary insurance. These programs will allow for repairs or replacement if you break a device or lose it. It is important to check because these policies often have high deductibles. That deductible may not balance out against the monthly cost of the insurance and the value of the device when you lose it.
On the other hand, getting insurance policy from a third-party provider may be a wise decision. Coverage levels will vary depending on whether you’re looking to cover a plasma screen for your leisure time, or computer equipment that is specifically work-related, but you may be able to work technology coverage into a homeowners policy, a renter’s policy, and even your vehicle policy. Accidental breakage policies are likely the most important kind of coverage to get when insuring technology. Checking to ensure that a policy covers theft is particularly important, as some programs will only protect you against damage to the device, not the loss of the device.
Watch Out for Your Content, As Well As Your Devices
Buying insurance for your technological devices helps reduce the risk of work issues and other problems if you lose or break a piece of technology. For example, if you rely on your phone to do business, waiting two or three days to replace it when you have enough money could mean missing out on sales or work. An insurance policy can help you replace items that get broken as quickly as possible.
It can also minimize the impact of lost or damaged technology on your monthly budget. Some technology policies also come with cloud backup services. In other words, in addition to protecting the physical possession of your device, they also protect the information you store on them. For many people, the loss of files and photographs from their devices is worse than losing the device itself. Backing up your files, especially with secure cloud programs, is a great way to protect yourself from the loss of precious and important data.
Insurance for technological devices is simply common sense. The more you rely on your technology, the more important it is to insure them adequately. Unless you buy cheap and used devices, ensuring your technology is almost always worth the cost of the premium.