Is gadget insurance worth it in 2026?
Whether gadget insurance is worth it comes down to three things: how much your device cost, how likely you are to damage or lose it, and whether you already have cover somewhere else.
For a flagship phone worth £700-£1,200, a policy costing £4-£15 a month is often cheaper than a single repair. A cracked screen alone can cost £150-£300 to fix without cover. For a budget device worth under £200, insurance is harder to justify — the annual premium can approach the value of the device itself.
What does gadget insurance actually cover?
Most UK gadget insurance splits into two tiers. Essential Cover typically includes theft, accidental damage, liquid damage, and unauthorised use protection (usually up to £1,000) if your phone is stolen and used before you can report it. Full Cover adds loss — covering devices that go missing rather than being stolen or damaged — on top of everything in Essential.
Worldwide cover is standard on most policies, typically for up to 90 days a year, which matters if you travel with your device.
Do you already have cover you're not using?
Before paying for a standalone policy, check three places:
- Home contents insurance — many policies cover mobile phones away from home as standard, though often with a lower claim limit and higher excess than dedicated gadget cover
- Bank account perks — some packaged current accounts (the kind with a monthly fee) include phone insurance as a bundled benefit
- Manufacturer warranty — covers faults, not damage or loss, so this rarely overlaps with what gadget insurance actually protects against
If none of these apply, or the cover is too limited, a dedicated policy fills the gap.
Refurbished phones and insurance
A common question is whether a refurbished or second-hand phone can be insured at all. With most UK providers, including Bimpy, refurbished and used devices are covered up to 36 months old, so buying refurbished doesn't rule out getting protection — it's treated the same as a new device of the same age and value.
How to decide
Insurance makes the most sense when:
- Your device is worth £400 or more
- You don't have existing cover through home insurance or a bank perk
- You have a history of dropping or losing phones, or travel frequently
- You'd struggle to replace the device outright if something happened to it
It makes less sense when the device is low-value, you already have adequate cover elsewhere, or you're disciplined about using a case and screen protector and have never claimed on a previous policy.