The Austrian Financial Market Authority has published guidance to help consumers assess whether insurance offered with smartphones, laptops and other devices suits their needs. It advises consumers to review coverage, exclusions and deductibles without sales pressure, noting that policies can often be purchased separately from the device and commonly exclude wear and tear or scratches. Consumers should first check whether statutory warranty rights, a manufacturer’s guarantee, household insurance or another existing policy already covers potential losses. They should also compare total premiums with the device’s value and age and examine cancellation terms because some contracts renew automatically.
2026-08-26Austria Financial Market Authority
Austrian Financial Market Authority publishes consumer guidance on device insurance
The Austrian Financial Market Authority has issued guidance on assessing device insurance offered at checkout. Consumers should compare coverage, exclusions, deductibles and total costs with existing protections and the device’s value, while checking cancellation and automatic renewal terms.