In South Africa, you dare not own a smartphone, laptop or iPhone without having insurance for it. So what is the best insurance?
Some people have scarcely owned a smartphone for an hour and had it stolen. A smartphone, laptop, and iPhone can cost anything between R7 000 and R15 000.
The premiums you pay for these items will be calculated on the particular phone or laptop’s value.
Most people buy their smartphones on contract through service providers, the traditional insurer as a stand-alone policy or as part of household insurance.
You’ve got Plenty of choices when Looking for the Best Insurance
Fortunately, South Africa has a broad range of insurance providers, so product and price comparison is a good decision.
A typical example of a comparison site is Hippo. They allow you to compare quotes from a range of insurers. The site is free to use.
They explain all about smartphone insurance, knowing full well that gadgets such as smartphones and laptops play a huge role in our lives, and to lose them means loads of valuable information down the drain too. It is far more affordable to insure your laptop or smartphone than to have to pay for a new one.
The best insurance is Cover that is Unique to Your needs
You may have decided to get smartphone insurance through a specialist gadget insurance policy. On the other hand, you may already have home insurance. It’s always wise to check this kind of insurance because there are sometimes limitations to standard home contents insurance.
Of course, the point of a mobile phone is that you can take it anywhere, so make sure your insurance covers your phone in your home and outside your home as well.
All Risks Insurance
Your smartphone, laptop or iPhone are items that you always take with you wherever you go. If you want your phone insured no matter where you go, you may need to add personal possessions cover to your home insurance policy. This kind of cover away from home is known as All-risks Insurance, and it includes those items such as mobile phones and laptops that leave home with you.
Know what you’re Getting and What you’re Not getting
Most people prefer to take out specialist smartphone insurance. You’ll need to provide details such as its make and model and insure your laptop for the replacement value and not the current market value.
Remember to check out those specific conditions and exclusions. Certainly, damage caused by carelessness to these items will not be paid out. Did you know that in most instances, just your hardware is covered and not your software?
Viruses or network based security breaches which result in loss of data, for example, are also not covered by regular iPhone or laptop insurance policies.
Even if you buy the Best Insurance, Do you know What you have?
- Get to know the conditions and terms unique to your agreement.
- Each insurer’s conditions are different, even though regulations are in place by law as well as the consumer protection society.
- Make sure that you understand all conditions that form part of your policy.
- Understand the claims process, whether your phone will be repaired or replaced
- Above all, be Informed.
There’s no doubt that insurance is a grudge product. Most people feel you pay too much and get little in return. In South Africa what you own of value is often targeted by criminals. What are you going to do, buy insurance or remain uninsured? Being a disciplined person, you can also self-insure and put away an amount each month to prepare for any potential loss.
Whether you go ahead with the best insurance or not, the Internet is full of valuable information to help you make an informed decision. Assess any policy you take out, and if you go ahead with buying insurance, make sure you choose an insurer with simple documentation and processes.
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