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You Can Protect Wearable Technology With Renters Insurance — Here’s How

You Can Protect Wearable Technology With Renters Insurance — Here’s How

Within five years of its release, Apple Watch reached more than 100 million users. Experts expect to see the popularity of wearable electronic devices like smartwatches and fitness trackers continue to grow.

Whether you received a fitness tracker as a gift or are planning to invest in a smartwatch for yourself, it’s a good idea to protect your new high-tech accessory.

But does that mean you need to purchase wearable technology insurance?

Not entirely — you may be able to skip that extended warranty if you have renters insurance.

Keep reading to learn:

  • Does Renters Insurance Cover Wearable Technology?
  • Situations Covered by Renters Insurance
  • Filing a Claim for Wearable Devices
  • Additional Warranties for Wearable Technology
  • Final Thoughts: Does My Renters Policy Have Wearable Technology Insurance?

Does Renters Insurance Cover Wearable Technology?

In short, yes. Your renters insurance policy includes personal property coverage that protects your belongings in case of theft or damage by covered perils, and that includes wearable tech.

Wearable tech includes items like:

  • Smartwatches (such as Apple Watch)
  • Fitness trackers (such as a Fitbit)
  • Smart jewelry (such as the Oura Smart Ring)
  • Smart clothing
  • Head-mounted displays (HMDs) and smart glasses

Coverage automatically kicks in, so you don’t need to inform your insurance provider you received or purchased a wearable device. That’s also true for other electronic items such as digital cameras, mobile phones, desktop computers, and video game consoles.

Your insurance policy details tell you when insurance covers electronic devices, such as if there's damage from a power surge or certain types of water damage. It will also tell you exactly how much your insurer will pay you if your wearable is stolen or damaged.

Wearable Technology Coverage Limits

Claims for wearable technology are subject to your personal property coverage limits.

Depending on your policy, personal property coverage claims may also be subject to limits such as:

  • Per-item limits: maximum payment per item
  • Per-claim limits: maximum payment per claim
  • Category limits:  maximum payment per category

Renters insurance companies classify wearable technology under the jewelry category, which usually has a limit of $1,500 in standard policies. But to be sure of your coverage amount, you can check your policy details.

Goodcover insurance policy declarations page sub-limits section


Under your standard policy, insurance fully covers wearable technology items that cost less than $1,500 (or the jewelry category limit on your policy).

If you’re concerned about getting full coverage for big-ticket items, you can purchase additional renters coverage by scheduling the item with your insurer.

Actual Cash Value vs. Replacement Value

When you file a claim for damaged or stolen property, your insurer may reimburse you for the item’s actual cash value (ACV) or its replacement value.

ACV is the amount the item is worth when you take depreciation into account, while replacement value is the amount you need to replace it with a new item.

For example, if you bought a new Apple watch for $750 last year, the replacement value would be $750, but the ACV might only be $600.

Keep in mind your deductible since that comes out of your claim payment. If your deductible is $500 and you buy a $450 smartwatch, it won't be worth it to file a renters insurance claim.

All Goodcover policies use replacement value when processing claims for personal property. You'll receive the total replacement value minus your deductible when your claim is approved. Goodcover also offers zero-deductible plans and premium coverage options.

Situations Covered by Renters Insurance

If a covered peril (such as a fire in your apartment) damages your belongings, or if someone steals your stuff, standard personal property coverage kicks in.

List of covered perils and covered property on Goodcover.com.


Goodcover renters insurance provides coverage for your items wherever they are. If someone steals your Fitbit tracker from inside your apartment, you're covered. If someone steals it off your wrist while you're out and about, you're still covered.

Coverage for Lost Items and Accidental Damage

Standard coverage does not apply if you accidentally damage your accessory or lose it.

However, you can purchase premium coverage specifically for your wearable technology or other expensive electronics by scheduling individual items.

At Goodcover, our SUPERGOOD coverage includes accidental damage with zero deductible, and our ULTRAGOOD coverage includes accidental damage and misplacement with zero deductible.

The good news is the additional insurance premiums you pay when you schedule your wearable technology is often much less expensive than purchasing an extended product warranty.

Filing a Claim for Wearable Devices

When you file a claim with your insurance provider for wearable technology, you’ll need to provide proof of ownership. If you bought the item yourself, this could be a physical or digital receipt or even a credit card statement.

For gifted items, a gift receipt can serve as proof of purchase.

Additional Warranties for Wearable Technology

Most wearable technology products come with a limited original warranty covering issues like mechanical failure or battery failure.

You also have the option to purchase an extended warranty or product protection plan from the manufacturer or the seller for an additional cost that offers coverage for repairs and replacements that may arise from accidental damage on your end.

These plans typically cover repairs or replacements that result from normal wear, accidental damage, or misplacement, but you should always check to see what the policy includes. For example, most basic warranties don’t cover liquid damage, but an extended protection plan might.

Make sure to also ask about the details of the extended warranty policy since some do involve small deductible amounts.

If you’re worried about damaging or losing your item, you may want to purchase the extended coverage. But it’s worthwhile to check with your insurance provider to see how much it would cost to do so. Additional renters insurance may be less than an extended warranty.

Final Thoughts: Does My Renters Policy Have Wearable Technology Insurance?

If you’ve received wearable technology or plan on buying it for yourself, you can rest assured that your renters insurance policy automatically covers it.

Under your standard policy limits, renters insurance should fully cover most smartwatches and fitness trackers on the market. If you want to insure a more expensive item or add coverage that includes accidental damage or loss, you can schedule your item on your insurance policy.

Get a quote for affordable and reliable coverage for all of your belongings today.


Note: This post is meant for informational purposes, insurance regulation and coverage specifics vary by location and person. Check your policy for exact coverage information.

For additional questions, reach out to us – we’re happy to help.

Goodcover is a modern, fair, cooperative renters insurance starting at $5/mo.

Our mission is to build a community of Members enjoying financial peace of mind at the lowest possible cost. Get your instant quote and become a Member today; if you’re switching we’ll do the work for you and you’ll get a refund of anything you’ve prepaid.

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© 2022 Goodcover Insurance Solutions, LLC. Licensed in CA #0M20813

Goodcover Insurance Solutions, LLC (Goodcover) is an insurance agency licensed to sell property-casualty insurance products. Goodcover will receive compensation from insurance carrier partners for such sales. Refer to the Legal Notices section for additional information.

Issuance of coverage is subject to underwriting review and approval. Coverage may not be available in all states. Please see a copy of the policy for the full terms, conditions and exclusions. Policy obligations are the sole responsibility of the insurance carrier listed in your Policy Declarations. Coverage scenarios are hypothetical and shown for illustrative purposes only. Coverage is dependent on the actual facts and circumstances giving rise to a claim.