Savvy Britain
Savvy Britain
Savvy Britain

Looking for Mobile Phone Insurance in 2018? Read this Excellent Guide Today!

By Phillip Gray
Founder and Editor
Mobile Phone and Smartphone InsuranceLook at our fantastic Mobile Phone Insurance Guide today. Filled with fantastic information, how-to’s, hints, tricks and tips. Mobile phones have revolutionised the way we live our lives, it’s always a good idea to get your device insured so you’re covered if the unthinkable happens.

You can protect your smartphone from theft, loss and damage quite quickly with insurance quotes from a whole host of providers. For the last decade or so, Mobile Phones have literally become an extension of our bodies. We use them on a daily (if not hourly) basis. We keep in contact with friends and family by social media, go mobile shopping, send text messages, and listen to music!

It doesn’t matter if you have the latest smartphone or not, getting the right type of quote for your mobile phone is always recommended. After all, we can lose them quite easily, they can be a soft target for thieves or we can break them. If any of these situations happen to you, matters can be made even worse by being locked into a long-term contract you may have to pay. Even when you don’t have the phone!

Let’s look at mobile phone insurance in more detail, and see what type of cover may be right for you.

What is Phone Insurance?

Mobile Phone insurance is provided by a range of companies to offer protection should your phone get stolen, lost or damaged. Typically, you can purchase mobile phone cover in two different ways. The most common method is purchasing insurance as part of your phone contract. This is usually provided either by the phone manufacturer themselves or by the mobile phone shop.

The second way to purchase insurance is from an individual insurer. These can be standard institutes and businesses ranging from supermarkets to banks and specialised providers. You need to keep in that mind the cost and the level of cover will vary massively depending on which insurance company you choose. This could mean that some providers may not cover certain things happening to your phone. For example water damage, theft when left unattended and so on. As each provider is different you need to read all the documentation to make sure what the policy does and doesn’t cover.

Equally, if you own a property it can be a good idea to check your home insurance policy to see if it covers your mobile phone. For some people this will apply, however it’s usually not included as standard.

In addition another good thing to consider is the fact your brand new phone will have warranty. Usually this is for a standard 12 months, however it can be longer in some cases. Generally speaking, most manufacturer warranties will only cover the ‘inner workings and functions’ of the phone and not wider circumstances such as a lost phone or theft. Read all of the manufacturer guidelines and warranty information.

If it only covers the ‘inner workings and functions’ of the phone then you may be able to get your smartphone insurance cheaper. You will need to request that your policy doesn’t cover the same elements as your manufacturer warranty. There’s no point paying twice for something, which is covered as standard. However always remember you will need to include cover for the inner workings and functionality of the phone once the standard warranty runs out!

What does Smartphone Insurance Plans Cover?

Most people decide to purchase mobile phone insurance so they can obtain a replacement or repair of their device in a quick timeframe. This means they will not be ‘left’ without a phone for too long, however some policies will want to attempt a repair before they decide to replace the item.

Typically, you will want a policy, which includes:

  • Theft Protection
  • Accidental Damage Cover
  • Unauthorised Data Usage, such as calls and downloads
  • Overseas Cover
  • Protection for the loss of content, such as games, files, eBooks, photos, etc.
It’s important to remember that each insurance company is different, some things you may get from one, you might not from another. Always try to get a policy, which doesn’t cost you more depending on the reason you’re claiming. For example, some excesses will depend on whether your phone was damaged, stolen or lost. You may find that if the insurer thinks the device was lost because of your ‘fault’, a higher excess may be required to be paid.

If your phone does get stolen, damaged or lost, some insurers may ‘offer’ you a replacement device. This usually tends to be a second-hand or refurbished phone; depending on your policy you may be liable to pay the excess.

Are there any exceptions?

Typically, there will be ‘clauses’ and ‘exceptions’ in most insurance policies and mobile phone cover won’t be any different. Generally, most insurers will not replace a phone if a theft has occurred when the device has been left ‘unattended’.

This can be a grey line in some circumstances, for example being a victim of pick pockets or having it taken from a table you were sat at. Equally leaving it by mistake in a taxi on a Saturday night may not be covered too. Some insurers may dismiss claims such as these. It’s important you know what is and isn’t included in your policy. You must read all the terms and conditions and documentation from the insurance provider before you agree / sign any contract.

Things to Consider

If you’re in the market for smartphone insurance here are some great things to consider:

  • Time Limit - Some insurers will require you to report a phone missing or stolen within a set time limit. This is usually around 12 hours or less. You will need to read your documentation to see if you need to report it to the police, your insurance company or both. Typically, only thefts will need reporting to the police, however your insurer may state otherwise.

  • Sim Card - It’s not uncommon for some insurance companies to ‘invalid’ your policy if you don’t use the original sim card. This generally is applicable to manufacturer related policies or insurance bought from the phone shop you purchased the item from.

  • Phone Age - Some insurers will only cover ‘brand new’ devices, which may mean your old phone you want to use may not be able to be covered. This obviously varies massively depending on each individual provider, so shop around for the best quote.

  • Data and Images - Sometimes the most valuable thing on people’s phones is the photos, files and contacts stored on the device. If you don’t backup your phone on a regular basis these could be easily lost if the device is damaged, stolen or lost. Some insurance companies are now offering a new type of policy called the ‘digital download cover’. This will cover the replacement of data, music, movies and ebooks. As each individual provider has different rules and levels of cover, you will need to read all documentation to see how it may apply to your requirements.

  • Car Insurance - If you use your phone in car and it’s connected to an in-built car system or hands-free. You should check your car insurance to see if your device is covered if the car gets stolen or broken into. As a phone isn’t physically connected to a car like the steering wheel, some insurers may not deem the device as part of the ‘contents’.

How to Save Money

We all want to save money where we can, take a read below how to potentially save money on mobile phone insurance:

  • No Claims Bonus – Just like other forms of insurance, you can easily build up your no claims bonus each year you don’t claim on your policy. Overtime this should give you a nice little reduction.

  • Excess – Stating a higher excess could be a good way of keeping premium prices down. Similar to car insurance, you will be liable to pay the excess attached to your policy. Only state the maximum amount your budget allows.

  • Multi-Policy – If you’ve got other family members who are searching for smartphone insurance, then grouping together under one policy could be beneficial. You will have to work out how much insurance each phone would cost individually and compare these to the prices of a multi-policy quote. Generally speaking, you should see a discount.

  • Home Policy – Check your home insurance policy, sometimes your mobile phone can be covered. If it’s not, you can always ring your provider and ask them how much it would cost to be added. Sometimes it’s cheaper than you might think.

  • Bank Account – Some ‘premium’ bank accounts may have ‘perks’ attached to them. This can include mobile phone and travel insurance. As we all have different levels of bank accounts, you will need to see if this applies to you. Equally you should also check with your credit card provider, sometimes they offer insurance deals for items such as Mobile Phones.

  • Manufacturers Warranty – Try to reduce your premiums during the warranty period. This means read all of the maker’s guidelines and only insurance your phone for the things, which the warranty doesn’t cover. Generally warranty will not include the loss of the phone or theft, etc.

  • Gadget Insurance – Increasingly there’s all sorts of niche policies becoming popular with technology. Gadget insurance is one of these. This tends to cover items such as Phones, Laptops, Tablets, Computers, Game Consoles and so on. If any of these pieces of technology apply to you, you may see a discount on your premiums if you group together your gadgets under one policy.

Original Publication: 7 July 2017
Last Updated: 28 March 2018

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