BDML launches policy for electronics

BDML Insurance Solutions, part of the Capita Group, has announced the launch of Gadgetsafe, a new policy to provide cover for electronic gadgets.

Tony Martin, managing director of BDML Insurance Solutions, said: “People’s lifestyles are changing so quickly with an increasing dependency on expensive, mobile technology.

"Our research suggests many individuals carry around gadgets with a combined value approaching £1,000 with this figure doubled for a family unit on the move. Many current home insurance policies simply don’t do the job – coming up short on breadth of cover, high excesses and perhaps most importantly speed of replacement.

"Gadgetsafe comes with a 48 hour repair/ replacement service which we believe is what customers really need in the event of a claim. In addition, policyholders will be allowed up to 60 days cover worldwide each year which we hope will make Gadgetsafe popular with travellers."

In keeping with BDML’s distribution strategy the company is already is discussion with a number of potential affinity partners. Atlas Direct, the travel brand, launches with BDML next month.

Atlas’ managing director, Joe Karim, commented: “Gadget insurance is an absolute natural for our internet savvy customers and will sit very comfortably alongside our existing range of travel insurance products.”

The cover costs £7.99 per month or £9.99 per month for three or five named gadgets respectively. Most devices can be insured including laptops, mobile phones, Blackberries, cameras, PDAs, Ipods and satellite navigation units. The policy provides cover against accidental damage, theft and breakdown.