The need to insure digital devices has increased as technology becomes an increasingly important part of our lives.
Most people have multiple devices, including laptops, smartphones, and tablets, which are prime targets for thieves.
It is also extremely easy for accidents to happen to portable devices – making it crucial that you are covered in case you drop and shatter your R20,000 smartphone.
Insurance from the source
Mobile providers, from whom many smartphone and tablet owners purchase their devices, offer additional tech insurance that can be added onto your contract.
Vodacom, for example, offers two main types of device insurance: Comprehensive insurance and Accidental Damage insurance.
Those who sign up to Comprehensive insurance for their cellphone can also cover their accessories, such as Apple TVs and smartwatches, for an additional fee.
MTN also offers insurance options on contract or pre-paid devices.
The company said that there is no waiting period for claims, and customers are given 30 days to insure their devices once they have been purchased.
Vodacom and MTN’s comprehensive insurance prices are below. They refer to cover for laptops and tablets in the case of Vodacom, and cell phones, laptops, wearables, data modems, and SIM cards in the case of MTN.
|Network provider device insurance|
|Mobile Network||Device value||Price per month|
|Vodacom||Up to R1,500||R20|
|MTN||Up to R1,000||R37.33|
|Vodacom||R1,501 – R2,500||R40|
|MTN||R1,001 – R2,000||R57.50|
|MTN||R2,001 – R3,000||R67.59|
|Vodacom||R2,501 – R5,000||R69|
|MTN||R3,001 – R4,000||R77.68|
|MTN||R4,001 – R5,000||R88.77|
|Vodacom||R5,001 – R7,000||R99|
|MTN||R5,001 – R6,000||R107.94|
|MTN||R6,001+||R107.94 + R1.51 per additional R100|
|Vodacom||R7,001 – R9,000||R129|
|Vodacom||R9,001 – R12,000||R149|
|Vodacom||R12,001 – R15,000||R175|
|Vodacom||R15,001 – R18,000||R205|
Most major insurance companies also offer cover for tech devices, although these are usually not as specific as the insurance outlined above.
This usually falls under a “portable possessions” section, which covers the tech that you regularly transport and use outside of your home – including tablets, smartphones, and laptops.
These companies usually ask for an overall valuation of all devices that fall into this category, and use this and a variety of personal factors to provide prospective customers with a quote.
We used Loom – a digital product from Compass Insurance – to receive specific quotes for a variety of tech products.
Examples of comprehensive cover prices for various tech products are outlined below.
|Comprehensive insurance costs of tech devices|
|Device||Value||Price per month|
|Samsung Galaxy Active smartwatch||R4,399||R85|
|Samsung Galaxy Tab A 10.1-inch||R5,399||R85|
|Huawei P30 Lite 128GB||R5,529||R85|
|MSI OPTIX 27-inch WQHD 144Hz gaming monitor||R8,499||R85|
|Lenovo Thinkpad E580 i3-8130U notebook||R11,629||R136|
|Apple iPad Pro 11-inch 64GB||R13,999||R164|
|Apple iPhone Xr 128GB||R16,000||R214|
|Lenovo Thinkpad P52s i7-8550U notebook||R29,179||R341|