The technologies you know and love are progressing, and also getting more expensive. So, what exactly does that mean for your insurance needs? Is your home insurance in Salt Lake City going to cover your cell phone and smartwatch?
How to Protect Your Cell Phones and Smartwatches
If you’ve invested your money into the latest and greatest technologies, then it’s likely that you are going to want to protect them. Technology can be a big investment!
Here is what you need to know to better understand the options available to you.
Warranties
A warranty can be thought of as a written promise. In the retail industry it more so refers to assuring the quality of a product than it does to guaranteeing that certain conditions will be fulfilled.
It means that if the product fails within the time of the warranty and the user can show that it was not them who caused the problem, then the creator of the product will be responsible for fixing it. Warranties are often more limited than they may seem.
Extended Warranties
Extended warranties on the other hand are protection plans offered by the manufacturer themselves. These warranties do exactly what you might think, which is to extend the time period of the warranty.
There may be several levels of offered protection however, most of these offerings will not protect any of the damage caused to a product through negligence.
Protection Plans
Protection plans are usually offered by the company that you purchase your technological devices from. They are most often paid on a monthly basis and provide protection against any accidental damages that may occur.
Be sure to do a thorough read through of the protection plan before making a purchase as there are sometimes limitations on coverage which you may end up needing. Other times there is also a deductible associated with making a claim through your protection plan.
Home Insurance
Insurance protection is one of the most important types, but will it cover your smart phones and watches? The good news is that most home insurance policies will cover personal possessions including laptops, cell phones and smartwatches.
The only downfall of protection with your home insurance policy is that you will need to pay a deductible. This can sometimes be more than the cost of the device itself.
Some providers will also put a limit on the amount that they will cover when it comes to technology and personal possessions. Be sure to check with your provider to see what your coverage options are and get the protection you need.
