UK insurer Allianz Cornhill Schemes has partnered with retailer Game to offer insurance on the new PlayStation 3, which will be released in the UK later in March, and other games consoles.

With the cover, Game customers have the option to extend the standard manufacturer’s guarantee on their consoles by one or two years for protection against accidental damage and breakdown.

As a special introductory offer, customers can extend the protection on their GBP425 PS3 for two years for a discounted price of GBP34.99, as opposed to the normal price of GBP39.99. Customers can purchase an extended warranty on any console available within 30 days of their purchase, provided it has not been damaged.

Today’s consoles not only allow the user to play games, they can be used as a complete entertainment center, and the soon to be launched PS3 is a good example of this, said Steven Burrell, new business manager for Allianz Cornhill Schemes. If there is a problem with the console, it affects each different function, so it has become increasingly important to have some form of insurance cover.