Gadget insurance comparison service launched

The service has been designed to enable consumers to compare the cost of individual insurance on items ranging from from sat-navs to laptops, MP3 players to PSPs and DVD players to flat screen TVs.

Mark Bower, MD of Moneymaxim.co.uk, said: “As gadgets grow in importance to our daily lives making sure that you have the right level of insurance cover in place is becoming more and more essential. Our search engine is a UK first and allows consumers to easily compare the price of individual insurance in one easy place.”

He continued: “Customers using this type of insurance see benefits for a number of reasons. With the latest generation of mobile phones costing upwards of £400, and the launch of the iPad, the iPhone4 and other upmarket electronic tools, consumers understand that their gadgets are extremely attractive to opportunist thieves.

“Whilst home contents insurance does cover some items, many policies levy high excesses, exclude certain items (such as phones) or exclude accidental damage and breakdown. Additionally specific gadget policies normally offer 48 hour replacement, which can be really important as more of us see gadgets as an essential part of our daily lives. As we become more reliant on our mobiles to organise our lives and regularly use laptops for essential data, making sure you have the right level of insurance in place is becoming increasingly important.”

The panel currently includes Betterbuy Insurance, Gadgetcover, Insurance2Go, JS Insurance, LaptopGuard, Mobilephoneprotect, Protect Your Bubble and Worldwideinsure.