- Portable electronic devices are expensive, as well as easily misplaced, damaged or stolen.
- Insurance is an effective method which offsets repair or replacement expenses.
- Some providers do not insure accidental loss or mechanical damage – so check the fine print.
- Consider accidental loss as some insurers do not provide cover.
- It pays to compare insurances on electronic devices as a range of choices exist concerning price, cover and premium.
- Because electronic goods depreciate relatively fast, insurance is most useful when the device is new.
- A cooling-off period exists in the situation you decide your choice was not appropriate, usually a fortnight.
- Ask your insurer or see your contract for the exact cooling-off period and terms.
There are two ways you can cover your portable electronic devices:
- Add to your contents insurance or
- Obtain a separate, portable cover.
Adding to your contents insurance:
- With pre-existing home contents insurance, adding your portable electronic devices can be a cost-effective option.
- Enquire with your provider the kind of insurance they can provide for an extra portable device.
- This may result in additional fees in your premium. However, claim generally will not affect your no-claim discount.
- These policies are also more likely to insure accidental loss.
Gaining separate portable insurance
- You can also purchase insurance especially for portable devices from specialist companies.
- This is more suited to those who have no current contents insurance.
- Premium is payable yearly or monthly, according to your provider.
- Be cautious as some insurers won't permit a policy if your device is not brand new.
- Overseas travel may not be included.
Check what's covered:
- Compensation of unauthorised calls (up to a couple of hundred dollars)
- Worldwide short travel cover
- Mechanical failure
- Accidental loss
- Gradual deterioration or developing flaws.
- Phones of a value exceeding $1000
- Restoration of electronic information.
- Loss of stored files.
It is vital that you check the Product Disclosure Statement to confirm the details.
Making a claim
- Upon your device being subjected to theft, the client must take the following actions: inform the police within 48 hours AND inform your insurance provider within 14 days.
- A receipt is sufficient to demonstrate ownership of the device.
- Disable SIM or internet cards for your protection
- Clear your personal phone data if possible
- If possible, find your phone via GPS
- Remember that an electronic device contains abundant amounts of information.
To safeguard your electronic devices:
- Keep your devices safe and don’t leave them unsupervised.
- Do not enable saved password features on devices.
- Enable the password or PIN security on your devices.
- Use mobile networks rather than free wireless when internet banking.
- Validate the authenticity of the sites you visit.
- Investigate your phone and bank statements consistently for any unusual charges.
Portable insurance can save you money when your personal devices go amiss. Read all the terms and conditions before signing up. Naritas can help you. Call us at 1300 558 887 or speak to us on our live chat today.