These days, gadgets such as smartphones, tablets and laptops are only increasing in price as they become more and more technologically advanced. When it comes to mobile phones, it seems that every other day there is a new model on the market and brands such as iPhone and Samsung can charge up to £1000 for the latest model on release day. Apple only have to change two or three features to justify bringing out a brand new model, and its loyal fans are quick to snap them up without thinking twice.

Expensive Gadgets

These gadgets are not only highly expensive but also very prone to breakages. Smartphones are especially delicate, and a simple fall on a hard floor can smash the screen to pieces, leaving you with a bill of around one hundred pounds to fix it. This leads to the big question, if we are spending so much money on gadgets, should we be insuring them? Insurance really comes at a small price when you think of how much we pay for our phones and other gadgets, and if something happens to the phone or it suddenly stops working, you are almost guaranteed a brand new, shiny replacement. As mentioned, just to fix the glass on a smartphone could cost hundreds, making it almost worth just buying a brand new one altogether.

But is insurance really worth it? Does it really cover all breakages, and are you always guaranteed a replacement? Many insurance companies are very stingy when it comes to issuing replacements, and may have their own special conditions. For example, if the accident was your fault, or you lost it, rather than had it stolen, they may refuse to replace or may charge you to replace it, meaning it could actually cost you more in the long run.

Is signing up for insurance on a gadget or smartphone just a waste of money? In 2015, The Wall Street Journal published a lengthy article explaining why gadget insurance is almost never worth it, and why you should just suck it up and pay the repair fees should something happen to your phone or gadget. Basically, they say, it is a way for companies to make even more money from you, and is one of the most profitable industries in the world. Insurers know how attached we have all become to technology and our gadgets, and they take advantage of that.

In reality, there are many things you could do and precautions you could take in order to protect your gadgets that will save you a lot of money on an expensive insurance plan. With smartphones, the best thing to do is invest in a high quality screen protector and a case that covers and offers support to the whole phone, meaning that if you drop it, it is fully protected.

Instead of buying pricey iPhone insurance, take these steps, and to protect yourself against thieves, install a tracking application that shows the exact location of your phone at all times. That way, if it is stolen, it can quickly be tracked by police. Remember, most gadgets already come with a year of free insurance, and the iPhone is one of them. When you buy an iPhone new, you benefit from the fact that it comes with one year of free hardware repair coverage included.

At the end of the day, while it is true that gadgets are getting more expensive and we should take great care with them, signing up for insurance is likely to be something both you and your bank account will regret.


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