iPad insurance really worth the money?

Apple iPad insurance is one of the hottest products as the technology innovator sold at least 13 million iPads in the last three months of 201.

Dozens of gadget insurance sites offering cheap iPad insurance from around a fiver a month have sprung up online – but like most other cover for electronics, it’s often a waste of money.

Paying £60 a year or so for iPad insurance cover seems a good idea – but often the same or better cover is included for free or for less money in existing home insurance.

According to independent insurance monitor Defaqto, 80% of home and contents insurance policies  offer standard cover for students living away from home – providing they come back to stay with mum and dad in the holidays.

Check out the small print of the policy, but you should find iPads, Kindles and other electronics like iPhones, smartphones and iPods are all covered.

Some insurers may have exclusions that limit the cover and charge an excess for a claim. An excess is a payment you make against the first claim in the year – so your policy may have a compulsory excess plus a voluntary excess that add up to a significant proportion of the cost of a new iPad, the claim may not be economical.

Separate gadget insurance is the same – £60 a year  or more over three years adds up to at least £180 and might well come to the same as paying a home insurance excess in the event of a claim.

The average claim for theft of student possessions in £1,047, according to one insurer, and generally includes laptops and bikes as well as gadgets, clothing and cash.

Don’t forget to protect downloads as well. The cost of downloaded mp3s, movies and books can come to much more than the price of the gadget that plays them.

Some home insurance polices cover downloads as standard, but many exclude cover or include the feature as an add-on.