With the growing increase in laptops, tablets and mobile devices being incorporated in to school curriculums, many parents are faced with concerns about insuring their children’s electronic devices.

For example: Are you covered by insurance if your child loses or breaks their mobile phone?

This really depends on the nature of your policy… Some policies will only cover certain listed events such as fire, water, storm and theft at the premises. It is unlikely that a standard listed events type policy will cover your kids electronic devices away from your home.

Other policies provide a broader scope of cover and will cover accidental damage, theft and loss of electronic devices away from your home.

An insurance broker is the best person to determining the correct level of cover for your needs at the right premium.

Other common concerns include:

Will my policy allow me to buy a new laptop/iPad, or will the old one be repaired?

Policies that cover electronic devices away from the home will generally do so on a repair or replace basis dependant on the level of damage and cost to repair.

What policy will I need to purchase to ensure these items are covered?

Generally speaking, an accidental damage home contents policy provides the broadest scope of cover; however your safest option is to discuss your needs with insurance broker who will ensure that you have the right level of cover for your specific circumstances.

Under what circumstances will I not be covered for loss or damage of my child’s electronics?

Once again, this depends on the nature of your cover… however a Listed Events policy without an accidental damage extension is unlikely to cover your electronic devices.

What is the typical excess that I will need to pay on this sort of policy?

Basic excesses will often vary between insurers, and in addition, some people may choose to pay a higher excess in order to reduce their premium. To discuss these options further, contact an Insurance Broker for information or advice.

Are there any requirements to be able to make a claim… like having to keep the device in a protective cover?

Whether or not you choose to keep your electronic device in a protective cover will generally not affect your insurance, and will not be requested by insurers.

It is however best practice to keep your electronic devices safe from harm where ever possible. Remember that should you be required to make a claim for damage to the device there will still be an excess to pay in addition to the inconvenience of having to wait for a repair or replacement.

Do I need to keep my receipts as proof of purchase for when I make a claims?

Proof of purchase will be required at the time of the claim, and as such we strongly recommend keeping your receipt of purchase as well as details of the make, model and serial number of the device. If you no longer have these items a photograph of the item will make the claims process go smoother.

For any further information or advice on Insurance Coverage for your children’s electronic devices, please don’t hesitate to contact the professionals at GSK Insurance Brokers.

March 3, 2017

By Graham Knight

Founder and Managing Director of GSK Insurance (established in 1981). Graham draws upon more than 50 years’ experience in the insurance industry, working in both insurance and broking across various private, public and government sectors in Australia.

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