For most types of insurance, the premium you pay will be affected by demographic factors such as age, health, where you live etc. However, this is not usually the case for mobile phone insurance. Another thing that is not often asked with mobile phone insurance is whether or not you have made a claim previously. The only factor that will affect the price you pay for your insurance is the type of mobile phone that you are insuring.
If you are wondering whether or not you need to get mobile phone insurance then you need to consider the risk factors. The cost of replacing your mobile phone will play a role as will how careful you tend to be with your possessions. If you tend to be a bit careless and have often mislaid items then you may find that mobile phone insurance will be something that proves to be valuable to you.
Do you already have cover with your contents insurance?
A lot of household contents insurance policies already cover you for damage, loss or theft of your mobile phone. You need to check this out and if you do find that you are covered, then you need to read the fine print to see if this policy covers your phone outside of the home as well as inside. If your cover is only for inside the home then you may want to contact your insurance company to see if you can extend the cover to outside of the home. Alternatively, you may be better off with a separate mobile phone insurance policy. It is also important to check the voluntary excess level on your policy before making your mind up.
What does mobile phone insurance cover?
As well as the cost of replacing or repairing your mobile phone, there may be other things covered such as the cost of any unauthorised phone calls which are made from your phone if it is stolen. This could be quite a bit of money so it might be worth getting this added to a policy.
Some phone contracts will require you to pay a service fee for the duration of the contract even if your phone is stolen because the phone company uses this fee to make up for the reduced price they have offered you for the phone when you took out the contract. Some mobile phone insurance policies will cover this amount so that you don’t have to continue paying it if your phone is lost or stolen.