Make sure your insurance policy is up to date with the value of all your gadgets

According to recent research by a leading insurer, consumers are carting around £1,000 of gadgets every day. Handbags and pockets are overflowing with expensive devices such as iPods, mobile phones and digital cameras.

What new gadgets and gizmos have you received this Christmas? How you would replace them if they were lost or stolen? You could be severely out of pocket if you have to replace the goods without the help of an insurance company. Half of UK consumers assume that their household contents insurance will automatically cover any new valuable gadgets. Only one in ten consumers actually checks that they have insurance cover in place to protect their goods.

Now is the time
Just after Christmas is the obvious time to contact your home contents insurer and update your policy. Each time you add a present or new purchase to your collection, the total value of your home contents increases and the reality is that your premiums need to reflect this. Your insurer should be able to cover most gadgets such as iPods, MP3 players, portable DVD’s laptops, handhelds, mobiles, PDAs and flat screen TVs. Just look around your home and see what items you have bought in the last year and make sure that your policy reflects the value of goods added to your home.

It is usually worth insuring expensive, valuable, easy to lose or damage items separately (laptops, cameras, handheld devices). That way if you make a claim, your no-claims status on your overall home contents insurance is not affected. Most insurers set a limit on the value of single items they will insure separately. Typically this is £1,500 but it can be as low as £600. The limits vary enormously from insurer to insurer so if you have high value items, seek advice on what you should do. And remember, don't just think of the value of the gadget - remember if you have spent lots of money paying for downloads for your iPod that if the gadget is stolen so is the music.

Check your cover
Policies vary from insurer to insurer so shop around to find the most relevant, most competitive insurer for your needs and remember, low prices can be misleading. Many cheaper policies may have more exclusions or less comprehensive cover. Watch out for exclusions hiding in the small print.

Be security aware

Make sure that you have adequate security measures in place to protect your home from the unwanted burglar. Home insurers will usually require the following:

• Five- lever mortice lock on external doors
• Key operated locks fitted to ground floor and all accessible windows
• That the property is not left unoccupied for over 30 days

Finally, keep a close eye on your valuables when you’re out and about, don’t leave your bags unattended and watch out for pick pockets who have spied you using your new device and are simply waiting to make your life a misery…