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Is it worth insuring your smartphone?

VANCOUVER (NEWS1130) – News1130 told you yesterday that smartphone thefts are up in places like Surrey; so what can you do to protect yourself?

There is insurance you can buy for these gadgets, but is it worth the cost? It all depends on how much your electronics are worth, as well as the fine print, says Bruce Cran with the Consumers Association of Canada.

“If it was an iPad, you can easily have over $1,000 invested in there,” he explains. “If it is something cheap, you should be looking at it in those terms. But I think it could well be a good proposition.”

Some places offer additional coverage within home content insurance for a few bucks, while others can cost more. “We’ve got to just use our own intelligence as to what we are getting in the way of protection and what it would cost us to replace the item that we might lose.”

Tatiana Chabeaux-Smith with Consumer Protection BC says you have to do your homework:

“Read the fineprint in the contract. That’s what you’re looking for: If my phone is stolen, will I get a new one? Do I have to pay for any of the delivery charges? Those types of things, just to make sure you’re being informed before you purchase it.”

She also is urging people to know what the replacement cost of their item is to see if it is worth spending the additional cash.

Cran adds if your phone is swiped from you and you want to hold onto all that precious info, it’s best to back it up.