Today, homes are well equipped with electronic and high-tech devices. It may be wise to insure them in the event of theft or damage. How does multimedia insurance work and with whom do I take it out? We help you see more clearly.
Which devices are covered by multimedia insurance?
All multimedia equipment can be covered by insurance. The term also refers to devices allowing the use of texts, sounds or images. Among the many multimedia devices, let us mention computers, tablets, e-readers, digital cameras, smartphones, video game consoles, stereos…
These everyday devices must be insured both at home and outside.
The different multimedia insurances
At your home, multimedia equipment may be covered by your multi-risk home insurance. Be careful never to underestimate the amount of capital when subscribing to the contract. In the event of a claim or catastrophe, compensation by the insurer will not allow you to replace all your equipment, which is often expensive.
Outside your home, there are two solutions for insuring your devices.
“Mono-product” insurance for large distributors
Fnac, Darty, Auchan, Carrefour and most major distributors offer damage insurance when you buy a product. The guarantees are almost similar to those sold by insurance contracts. They cover theft, accidental breakage, etc.
Nomadic object insurance
This insurance is distinguished by its great simplicity. A single contract covers all the mobile devices in your household. Generally, it takes a hundred euros per year. Most nomadic object insurance contracts offer theft and breakage guarantees.
To take out nomadic object insurance in a bank or with an insurer, there are certain conditions. It is imperative to have an account opened in the agency or to have taken out a multi-risk home contract.
Note that some credit cards include a purchase guarantee. Find out before you buy insurance.
Points to check on your multimedia insurance contract
Before opting for such or such multimedia insurance, compare!
Check some points:
- the scope of the warranty;
- the conditions of application and exclusion;
- which devices are actually covered by the contract? Make sure that your equipment is included in the detailed list;
- do I have to declare each new device purchased? If the answer is yes, it can quickly become restrictive;
- the process of compensation in the event of a claim. Will the device be repaired or replaced?
- the amount of the deductible, that is to say the part remaining at your expense.
- the amount of the guarantee ceilings.
In which cases does multimedia insurance not reimburse?
Before taking out insurance for your electronic devices, be aware that some contracts include many exclusions. For example, some insurances exclude thefts taking place at certain times of the day.
If you leave your phone or tablet lying around in view of a third party, you will not be compensated either. This is considered negligence.
In the event of involuntary breakage, the refund only applies under certain conditions. The damage must be caused by a third party or during an unforeseeable external event. Insurance will not compensate you if you are clumsy.
Some contracts also exclude breakdowns.
Finally, it is good to know that multimedia devices lose value after two years of seniority. If your hardware is a bit dated, multimedia insurance may not be necessary.
Multimedia Insurance, compensation period
In the event of a claim, you have five days to notify your insurer (only two during a flight). When you have sent all the necessary elements to your insurance company to process the claim, the latter must send you a proposal within ten days. Keep your various invoices, purchase orders and receipts well. Your insurance will ask for them. If you bought your multimedia devices on the Internet, keep the seller’s delivery note in a safe place. Some banks like LCL and Crédit Agricole will ask you for it.
How do I cancel an electronic device insurance contract?
The validity period of multimedia contracts is one year. By subscribing to nomadic insurance, you agree to pay monthly payments throughout this period. And this, even if you no longer have the insured object in your possession (theft, breakage, sale, etc.). Only a few institutions allow early termination of contract. The Caisse d’Eparque offers early termination if the insured device is resold. AXA and GMF insurers take into account any change (moving, evolution of the personal or professional situation).
After a period of one year, you can terminate your nomadic contract at any time.