Game Console Insurance: Compare Coverage, Costs, and Value

Modern gaming consoles — particularly the popular PS5 and Xbox Series S and X consoles — can cost anywhere from $379 to $730, depending on the specs of the specific gaming system. That doesn’t even include the cost of additional controllers, games, and other accessories. You could pay more than $1,000 for your gaming setup and experience.

If your console ever breaks or has any problems, replacement and repair can get very expensive quickly. And manufacturer’s warranties typically only last a year or two.

Here’s what you should know about game console insurance, including whether or not the cost is worth it.

Can you buy insurance for a game console?

Yes. You can buy insurance for game consoles. You have a few different options when it comes to coverage types for your gaming system: manufacturer warranties, extended warranties, and insurance policies.

A manufacturer’s warranty typically only covers defects for the first year, while extended warranties also cover additional hardware issues. Gaming console insurance policies cover just about every type of damage, including accidents and theft. Every policy has limits, though, and no electronics insurance policy will cover intentional damage to your gaming console.

Types of game console insurance

Here’s what you should know about the three main types of game console insurance:

• Manufacturer warranty: This type of warranty comes with the gaming console but typically only lasts one year. It covers defects or hardware malfunctions and excludes accidental damage.^[1] You don’t have to pay a deductible for it.

• Extended warranty: More comprehensive than a manufacturer’s warranty, an extended warranty typically lasts two or three years past the original warranty period. It covers hardware damage, power surge damage, and controller replacement, but it doesn’t cover theft.^[2] Coverage usually costs an average of a few dollars per month, or $68 to $120 for two years. Some plans have deductibles.

• Stand-alone insurance policy: These policies cover hardware issues, theft, drops, water damage, breakdown, and more — typically on a monthly or yearly basis.^[3] Most plans have deductibles that are higher than warranty deductibles, and coverage costs between $8 to $35 per month, on average. These plans don’t cover intentional damage.

Where to buy game console insurance

You can buy gaming console insurance through multiple companies, including console makers, retailers, and insurance companies. Some home insurance policies can even cover game consoles through certain riders.

Many retailers, including Best Buy, Target, and GameStop, offer extended warranties with varying coverages and costs. Microsoft even offers its own extended warranty, Microsoft Complete, which extends your warranty coverage for up to three years.

Learn more about game console insurance and warranty options below.

Company	Coverage Type	What’s Covered	Costs
Sony (PlayStation)	Manufacturer’s warranty	Defects and hardware malfunctions	Included with console
Microsoft (Xbox)	Manufacturer’s warranty	Defects and hardware malfunctions	Included with console
Best Buy	Extended warranty	Hardware failure, power surges, and controller replacement	$80 (for 2 years) and no deductible
Target (through Allstate)	Extended warranty	Mechanical and electrical failures	$68 (for 2 years) and no deductible
Asurion	Electronics insurance	Mechanical and electrical breakdowns, accidental damage, defects, power surges, spills, and cracked screens	$15–$35 per month
Progressive	Electronics insurance	Drops, theft, water damage, cracked screens, and accidental damage	$8 per month or less

Buying a policy online is typically the most convenient option, but you can get also a policy in store if you have questions and want in-person customer service. Regardless of how you buy coverage, it’s crucial to understand exactly what your policy covers before buying it.

Consider how you use your console, what risks of damage it faces, and what you want your policy to cover.

What does game console insurance cover?

Game console insurance generally covers hardware defects or malfunctions, theft, accidental damage, and more. Here’s what it can cover:

• Drops and accidents: It can cover physical damage from drops or accidental impacts.

• Power surges: Your policy can cover damage costs from electrical surges that damage console components.

• Liquid spills: Insurance can help pay for repair or replacement after damage caused by water or other liquid spills.

• Theft of consoles or controllers: If someone steals your console or controller, insurance can typically cover the replacement cost.

• Repair costs: It can pay for repair costs if your console is malfunctioning due to something other than intentional damage.

• Replacement value: If you can’t repair your console, your policy can cover the cost of a replacement.

What does game console insurance exclude?

It’s important to understand what your policy’s exclusions are so you can avoid denied claims. Game console insurance won’t cover the following:

• Wear and tear: It won’t cover general wear and tear from usage.

• Cosmetic damage: Your policy won’t cover scratches that don’t affect console performance.

• Pre-existing conditions: Your insurance won’t help pay for any damage that occurred before you bought the policy.

• Intentional damage: If you intentionally misuse or neglect your console, your insurer won’t cover any resulting damage.

• Loss without proof of purchase and/or serial number: If you can’t prove that you purchased the console or provide the serial number, your insurer likely won’t cover your claim.

How game console insurance works

Game console insurance is pretty straightforward. At its core, game console insurance is any sort of policy, plan, or warranty that protects your console. In some cases, this coverage can also cover damage to game console accessories.

Here’s how it works:

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  1. Buy a policy

  The first step is to buy an electronics insurance policy, warranty, or protection plan. You can get one from several retailers, manufacturers, and insurers.

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  2. Register your console

  You must then submit your console’s details, such as the serial number and receipt, to your provider.

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  3. File a claim

  If a covered issue damages your console, you can submit a claim for repair or replacement. Each company will have a unique process for this.

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  4. Follow repair and replacement guidelines

  Your warranty provider or insurer will tell you who can repair your console.

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  5. Provide documentation

  Most plans typically require specific documentation to process your repair, such as photos of the damage, proof of purchase, and the serial number.

Who needs game console insurance?

Game console insurance can be a smart investment for any gamer. Whether it’s right for you depends on your risk tolerance and financial situation. For example, if your kids are the primary users of the console, you have pets in the house, or you’re just prone to accidents, you may want to get game console insurance.

Similarly, if you live in a neighborhood with a history of break-ins, buying game console insurance can be a good investment. This is particularly the case if you have numerous video games or multiple controllers and accessories.

Ultimately, game console insurance is a low-cost, smart option for frequently used or expensive gaming systems — especially if you can’t afford to replace your console in the event of damage.

Game console insurance FAQs