• Around 75% of gadget mad Brits expect standard travel insurance to cover them for lost or stolen gadgets and mobiles
  • But almost two thirds (59%) of travellers don’t understand that once wear and tear, plus excesses, are deducted they won’t get the full purchase price back
  • With the launch of the most expensive phone, the Apple iPhone X, travellers need to know how much they can claim
  • Families travelling for half-term holidays should know what to look for when buying a policy, to make sure all their prized gadgets are covered.

British families heading off on a half-term holiday break this month, could be missing out on vital information about their travel insurance, which could leave them underinsuring their expensive gadgets – according to new research from Travel Insurance Explained.

A new study into people’s understanding of travel insurance reveals that three quarters of the British travellers (75%) expect standard travel insurance to cover them for lost or stolen gadgets, such as phones, tablets and cameras – yet almost two thirds (59%) don’t understand how it works. Almost one in five (18%) expect to get back a full refund on the price they originally paid, while 27% believe they will get back the original cost of the gadget, minus an excess.

To avoid disappointment, Travel Insurance Explained is advising travellers to check their insurance policy before going away, as gadgets are not routinely covered under most standard travel insurance policies, and, for those that are covered, many insurers will only pay the second-hand value of the item, if the gadget is more than six months old.

Check out our advice on travelling with gadgets

People taking out extra gadget insurance are also being urged to check that the single item limit on their policy will cover them for the loss, or theft of an expensive smart phone or electronic item, as the average most standard gadget policies will pay out for one item is no more than £500.

Fiona Macrae, of Travel Insurance Explained, said:

‘It’s normal for people to take their tablets, smartphones and camera equipment on holiday with them just as often as they would take their sun cream and sunglasses, so it’s no surprise that they would expect their gadgets to be covered under their travel insurance policy.

‘Yet, our research highlights just how many are people are unclear as to what they would get back from their insurer if their phone, tablet or favourite electronic gadget, was lost or stolen while on holiday.

‘Most insurance companies will not replace and item on a new for old basis, especially if the item is more than six months old. Some will ask you to pay your excess and then provide you with a replacement of a similar age and model, whilst other insurers will give you a cash settlement after taking in account the age, any wear and tear and then deducting your excess.’

Travel Insurance Explained is advising travellers to:

  • Look for a policy that meets their expectations should they need to make a claim, rather than buying their travel insurance on price alone
  • Check the terms and conditions of their travel insurance policy and make sure that it will cover the cost of the items they will be taking on holiday with them. Check the single item limits on the policy, so that new smart phone may not be covered
  • Look at the amount of excess to be paid in case they need make a claim. And remember, this is per person on the policy and per claim.