ELECTRONICS INSURANCE: Definition, Cover & How It Works

Electronics Insurance
Image credit: QIB

What would we do if our smartphones, tablets, and laptops were not available? They’re indispensable tools that we use on a daily basis. Our productivity would come to a halt if they weren’t there. However, mobile devices are costly, and the cost of replacing them, as well as other high-priced personal gadgets and technology things, can be devastating to your wallet. This is where extended home electronics insurance come in handy, we also listed some notable companies like Progressive insurance company for you in this article.

Electronics Insurance

Electronics insurance, sometimes known as “gadget insurance,” covers damage to your mobile devices when your homeowners’ insurance does not, such as when your item simply stops operating.

There’s a strong chance you’ve broken the screen on your phone or tablet. It occurs to the most well-intentioned of us. Maybe you dropped your gaming system in the water or had your camera stolen after leaving it in a public place. Your equipment isn’t covered by the manufacturer’s usual warranty in most of these cases.

That’s where insurance for technological devices comes in. It covers slips, accidents, and even those instances when you didn’t mean to, such as broken screens, liquid damage, theft, and even drops, which your warranty doesn’t cover.

What Does Home Electronics Insurance Cover?

It varies depending on the type of coverage you choose and the firm you work for. The following coverage is included in some of the top policies available:

  • Theft
  • Accidental Loss
  • Accidental Damage
  • Cracked Screen
  • Liquid Damage
  • Breakdown
  • Malicious Damage
  • Unauthorized Use
  • Accessories

What Doesn’t Home Electronics Insurance Cover?

Knowing what is and isn’t covered by home electronics insurance can help you make a better policy choice and ensure that you make an informed purchase. That is why it is always a good idea to arrange for insurance to begin on the same day as you receive your new phone, camera, laptop, or other equipment.

It’s vital to keep in mind that the damage category you specify could be a means for the insurance company to avoid paying your claim.

For example, suppose you do not properly care for your mobile device and drop it on the road or leave it near the stove. The insurance company may then refuse to pay for the loss.

Similarly, if the phone is still covered by the manufacturer’s warranty, the insurance company may send it back to fix the problem.

Another issue could develop if you have a multi-gadget policy but the broken device is not included. To be on the safe side, you should be clear about what is covered and what isn’t.

Some home electronics insurance companies allow customers to customize their policies. As a result, if you want certain items added to your policy’s coverage, this is the ideal option. Look for a policy provider that allows you to tailor your gadget insurance coverage.

How Home Electronics Insurance Works

When it comes to finding the best device insurance coverage, the market offers a wide range of options. Because they work in different ways, you should familiarize yourself with the policy and how it operates before purchasing it.

Your homeowner’s insurance company may also provide some degree of device coverage. Check with your homeowner’s insurance company to see how much coverage they provide for your electronics.

However, we recommend purchasing a separate gadget insurance policy in general. Not only will the policy cover all of your gadgets. But it will also provide you with additional benefits that you might not be able to get with a standard home insurance policy.

A gadget insurance policy will cover the expense of repairing or replacing items that have been damaged by accident, liquid damage, or theft. Additional benefits like a 24-hour replacement, multi-gadget discounts, and more may be available.

Students can also acquire insurance for their electronics from several companies. These plans provide comprehensive coverage for student electronics both on and off campus.

Why Do I Need Home Electronics Insurance?

The electronics we use on a daily basis are expensive and consequently difficult to replace. As a result, the greatest device insurance must be purchased.

Our electronics are our dependable companions, giving safety and connectivity when we need it the most (for example, a phone comes in handy to call roadside assistance when the car breaks down).

Most portable electronic gadgets, such as digital cameras, cellphones, tablets, computers, game consoles, and headphones, are under gadget insurance.

If your electronics are having issues your insurance company will compensate you for your loss. It’s best to get coverage for your expensive equipment as soon as possible. Whether it’s camera insurance, smartphone insurance, tablet insurance, or game console insurance.

What Is the Average Pricing of Electronics Protection?

The typical cost of gadget insurance varies depending on the policy provider. Some firms may include extras such as tech packs that cover laptops and tablets, or bespoke plans with a different price based on the coverage chosen.

The cost of gadget insurance may also vary because some people simply protect their new item because it would be very expensive to replace or repair without it, but others may prefer to insure their entire family’s mobile phones under a single multi-device policy for convenience.

In general, gadget insurance covers the expense of repair and replacement in the event that the gadgets are stolen, damaged, or lost.

Do I Already Have Insurance that Covers My Electronic Equipment?

It’s likely that your home insurance policy already includes coverage for your electronics. The device coverage outside the home will, however, be more expensive. Furthermore, the no-claims bonus may be jeopardized if a claim is filed for the gadget.

There is a cap on the value and variety of gadgets that can be covered.

Living with other people presents an additional consideration. A claim made by one household member for a piece of electronic equipment can raise premiums for all policyholders.

Could I Get Coverage for More Than One Electronic Device?

Multiple devices can be insured, as it turns out. That’s why it’s important to get a policy that covers multiple electronic devices.

This will make it easier to insure multiple gadgets with a single provider. Know the maximum coverage and any discounts for insuring more than one device before committing to a policy.

If my gadget is still under warranty, do I still need protection from accidental damage?
Yes. It’s crucial to remember that warranties typically only cover mechanical failures in devices, not loss or misuse. As a result, even if your electronic gear is covered by a manufacturer’s warranty, purchasing additional insurance is a wise move.

Can You Tell Me What to Do If Someone Steals My Electronic Device?

Don’t hesitate to report the theft of your device to the authorities. If you’ve been a victim of theft, dial 911 immediately. Obtain an official crime or incident number. You can use this number to file a claim for your electronic device coverage with the insurer and get the process started right away.

How Does Allstate’s 2-Year Warranty Work?

Accidental damage to the product is covered immediately after purchase. After the manufacturer’s warranty has expired, coverage for product breakdowns and malfunctions continues. There will be no additional charges incurred for the repairs; all work, parts, and shipping will be covered. Simple procedure for filing claims; you can do so via mobile app, online, or via phone at any time, day or night, 365 days a year.

What Steps Should I Take if My Electronic Device Breaks Down?

If your insured device breaks down, you should get in touch with your insurer before taking any other action. You really must do this before scheduling the repair.

It’s crucial since your insurance policy might only cover repairs done by pre-screened vendors. As a result, you might not get paid in full or at all if you don’t meet any such requirement.

Should I Get Phone/Gadget Insurance Because I Can’t Function Without it?

The vast majority of smartphone owners simply cannot envision their lives without their devices. If you’re one of those people who never leaves the house without their cell phone, you may be concerned about damaging or losing it. This is why protecting your electronics with insurance is a must.

When shopping for a policy to protect your electronic gadgets, you have many options. How quickly and fairly claims are settled by the insurance provider, and what kinds of protections are offered?

Electronics Insurance Companies

Are you looking for electronics insurance companies, laptop insurance, or other types of insurance? We’ve got your back. Consider some of the best electronics insurance companies.

#1. AKKO

AKKO is a relatively new firm, but it has swiftly established itself as a reliable source of electronics insurance companies. There are just two plan options to choose from, however, this simplifies the procedure while still providing the coverage you require.

To secure your phone against damage, failures, and theft, AKKO offers phone-only coverage. This coverage is applicable to any phone and has a deductible ranging from $29 to $99. This plan includes unlimited claims, as well as coverage for parts/battery failure and the cost of replacing your phone.

For $5 to $12 per month, you can get a phone-only service. The alternative option is $15 per month, which is only a little more expensive. It’s called the Everything Protected package, and it protects both your phone and other appliances and gadgets. This plan allows you to cover up to 25 items in total, and you can swap out your goods at any moment.

The deductible for this plan ranges from $29 to $99, with a $2,000 claim limit. There is no yearly coverage limit, and you can file an unlimited number of claims with this plan.

#2. Lemonade Home Extra Coverage

Lemonade Home’s Extra Coverage goes above and beyond your home insurance policy’s coverages. If you only have a few gadgets and equipment to worry about, this is a good alternative. It’s also a fantastic choice if you’re just getting with your gadget and electronics collection because you may extend coverage for other products at any time during your policy.

With Lemonade Home Extra Coverage, you’ll be against accidental losses and physical damage to your belongings. On claims for things covered by the policy, there is no deductible.

The enrollment procedure is also rather simple. When you buy or renew your Lemonade Home insurance, you can add Extra Coverage. You can also add it afterward if necessary.

You’ll need to send a photo of your belongings, as well as a photo of a receipt or appraisal from within the last 5 years, to sign up for this coverage. The underwriting team will then look over your request for coverage to see your items and how much coverage you need.

#3. State Farm

State Farm is well-known for covering your house, whether you rent or own it. However, as we’ve discovered, conventional renters or homeowners coverage may not necessarily cover all of your needs. To help you cover the gap, State Farm offers personal article insurance. It can be used to protect jewels, fine art, sports equipment, and electronics, among other things.

One of the best things about State Farm is that you can speak with and work with dedicated agents. This is especially beneficial if you’re not sure what kind of coverage you require.

The agent can take you through creating a home inventory and calculating the value of your electronics. Your agent can then utilize this information to assist you in selecting the policy and coverage amount that is most appropriate for you.

#4. Allstate

Allstate is another insurance behemoth worth considering. SquareTrade, a provider of protection and warranty services for a variety of devices and electronics, is owned by Allstate.

You’ll get the benefits of Allstate’s insurance experience as well as SquareTrade’s knowledge of electronics and gadgets coverage when you choose this provider. Smartphones, iPods, laptops, TVs, and even home appliances are all covered by SquareTrade. You can buy a protection plan for most products for a number of years at a cost that is depending on the cost of the item.

SquareTrade’s phone protection is available as single insurance for $8.99 per month or a family plan for $19.99 per month that covers up to four phones. Cracked screens, liquid damage, speaker or audio failure, touchscreen failure, battery failure, and charging port failure are all covered under this policy.

Even if you’ve had your phone for a long time, you can protect it. Your coverage will instantly move to the new phone or carrier when you obtain a new phone or switch carriers. You can choose between an in-home repair, an Apple Genius Bar repair, a repair at a local shop, or a mail-in repair. SquareTrade claims that it will fix your phone within two days of receiving it for mail-in repairs.

#5. Progressive Electronics Insurance

For electronics coverage insurance, Progressive has partnered with Worth Ave. Group. This covers coverage for phones, as well as laptops and computers.

This is a fantastic opportunity to purchase electronic and gadgets insurance from a market leader while simultaneously benefiting from Progressive electronics insurance reductions. Progressive’s website allows you to browse the material and request quotations, but Progressive electronics insurance is not responsible for the policies of coverage choices.

When traveling with your laptop, computer insurance coverage can assist give you peace of mind by covering theft and vandalism. It also covers damage caused by water, fire, falling or stepping on your laptop, and power surges caused by lightning.

Unlike other types of electronics insurance, you can buy laptop insurance at any time, regardless of how long you’ve had your computer. Other electronics insurance coverages offered by Progressive include coverage for smartphones, tablets, cameras, and gaming systems.

Can I Get Eletronics Insurance for Traveling?

When we travel abroad, we usually bring a range of electronic devices with us. As a result, purchasing travel device insurance is a no-brainer. Knowing that we are insured if something goes wrong while on vacation can provide us peace of mind and allow us to fully enjoy our vacation.

Whether the camera is stolen or the laptop is broken, having travel device insurance relieves the financial strain of having to replace them once you return home.

When it comes to picking material for your gadgets and adding gadget coverage to your travel insurance policy, there are two primary alternatives.

Customers can purchase additional coverage for high-value products such as phones, digital cameras, computers, and all sorts of electronics from several travel insurance companies. However, it goes without saying that they do not pay enough to cover the expense of the equipment.

As a result, we recommend that travelers choose the second alternative, which is to purchase a separate travel gadget policy. You can ensure that all of your electronics are well-protected whether traveling for vacation or business by choosing a different insurance package.


Overall, gadget insurance is not an option; it is a requirement because we all use gadgets on a daily basis and invest significant sums of money in them. As a result, insurance is the best approach to protect our investment for years to come. You must carefully select an insurer because not all firms provide a wide range of coverage options. The majority of businesses simply deal with unintentional damage.

The deductible is another factor to consider. Most cell phones depreciate quickly, and the deductible can be as much as the cost of a new phone.

To summarize, there is no such thing as the finest device insurance company. What works for one user might not work for another. Each of us has unique insurance needs, budgets, and requirements.


Is gadget insurance worth it?

An accident using a mobile phone or laptop can happen to anyone. If you have a tendency of doing this and own multiple pricey items of equipment, this type of insurance may be helpful.

What if my claim is rejected?

The first step is to file a complaint with your insurer, who will most likely handle your issue through its internal complaints procedure.

Does gadget insurance cover me on holiday?

Every company on our list provides global coverage, ensuring that your electronics are safe no matter where you go. Progressive electronics insurance does that well.

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