Christmas gifts: is smartphone insurance worth it?

Passerby with smartphone

When shopping, many retailers recommend taking out insurance directly.

(Photo: AP)

Munich Smartphones, game consoles, jewelry and bicycles are popular gift ideas for Christmas. The retail association HDE speaks of “Christmas-related industries”, furnishings are also part of it. But those who want to strike in business for their loved ones often experience a surprise at the end of the sales pitch. Shouldn’t the cheap piece be insured right away? And do you want to pay directly or conveniently and supposedly cheap in installments?

These are all questions that are usually unexpected for the customer at the point in time when they are already happy about the successful surprise. That is why they are often answered casually with yes. Especially when the seller mentions theft or damage caused by falling or breaking. This can make it even more expensive.

Therefore, here are the most important tips for Christmas shoppers on how they can avoid unnecessary follow-up costs.

Smartphone, tablet, laptop or game consoles

In the case of fast-moving electronics in particular, an offer of insurance protection is a matter of course at the end of a contract. Always paired with a reference to possible carelessness, theft or the ingress of liquids. In addition, there are operating errors, short circuits and overvoltages. Customers are particularly keen to insure the expensive and latest devices.

In doing so, they conclude a kind of cover letter in which it is specified which damage is insured. The more, the more expensive. The experts at the Finanztip portal have calculated that the insurance costs around ten to 20 percent of the purchase price per year. The degree is usually concluded for a period of two years. Then the customers have to actively cancel, otherwise the insurance will be extended.

Details are crucial and correspondingly expensive. So-called fall damage is usually included in the basic variant, and anyone looking for protection against theft has to pay more. Low protection often also means a high deductible. Household contents insurance, which usually covers a wide range of damage, is only liable for a fire, lightning strike or pipe burst in your own walls for cell phones or tablets.

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