3 Reasons to Protect a Smart Watch You Won't Use in 3 Years
Technology is fickle. The newest, best gadget becomes obsolete faster than you can master its function. Sometimes it's hard to rationalize buying the newest phone, computer or smart watch, much less find a good reason to invest in protecting it.
At the end of the day, tech gadgets aren't cheap and if you're going to spend the money, you want to extend their lifespan as much as possible.
You can always go with a protection plan or a standard manufacturer's warranty for your wearable tech.
But, did you know you can get full-fledged insurance to protect a smart watch? And it won't even break the bank.
Here are 3 reasons to protect a smart watch (even if you'll likely ditch it within a few years):
1. Without Insurance, You'll Go Without Your Watch
Knowing that your new smart watch is going to be passed up by a sleeker, shinier version before you know it, would you really pay to replace it before the new one launches?
Think about it. If you crack your phone screen - enough to bother you, but not enough for it to stop functioning - and your contract is up in 3 months (right around when the next iPhone is launching), do you spring for a full value replacement? Likely not. Most people look into repairs, and if that's too costly, limp along with their old, cracked phone until the new one is available.
Same goes for your smart watch. If you lose your Apple Watch a year in, are you going to shell out another $300 for the same device or wait a few months to get an Apple Watch 2 for slightly more? We're willing to bet the latter.
That's where the beauty of insurance comes in. If you insure that Apple Watch, you can get an exact replacement at the time of loss, and not have to empty your wallet or go without your wrist-bound lifeline for a long, gruesome period of time.
2. Protect Your Trade-In Value
It's very common for early adopters to purposely buy the newest version of their favorite devices as soon as they come out. Why? So they can get top dollar for their gently used older version.
If you get insurance that repairs or replaces your smart watch, you won't be stuck with a damaged item when it comes time for an upgrade. Ditto if your device is lost or stolen. You certainly can't sell something you don't have anymore!*
Make sure you get the biggest bang for your re-sale buck by protecting your initial investment in the first place.
*Insurance fraud is frowned upon - like by people with gavels who can throw you in jail. Never submit a claim for intentional damage, loss or other fraudulent activity.
3. Minimal Investment, Maximum Return
We can't speak for every available option to protect a smart watch, but if you insure yours through Jewelers Mutual, we can guarantee it will be affordable. Insuring jewelry costs about 1-2% of the value of the item (with an annual minimum policy premium of $25-$30, depending on your state; $50 minimum in Canada).
But here's where it really gets cost-effective: If you already have a policy, or if you also insure your other jewelry, and the combined value exceeds the threshold of the minimum premium requirement (usually around $2,500-$3,000), the minimum doesn't apply to your smart watch alone. So, for example, if you insure an engagement ring valued at $5,000, along with your $350 Apple Watch, you'll likely be able to protect your smart watch for less than $5 a year.
If that doesn't sound worth it, I don't know what does.
So there you have it. Three great reasons to protect a smart watch, even if you know you're going to replace it for the shinier next generation the second it becomes available. (Don't worry, patience isn't our best virtue either.)