Are you covered by phone insurance in the likely event that your mobile gets damaged, lost or stolen? In the UK alone, there have been over 1.3 million mobile phone thefts, 1.6 million lost phones and countless more that are damaged in some way. For just a couple of pounds each month, each of these people could have saved themselves hundreds of pounds in replacement and repair costs. Imagine that!
The problem with most peoples’ attitudes towards mobile insurance is that they only realize that they need it after it is too late. Obviously, you can’t buy insurance for your phone after it has been lost, stolen or damaged, and it’s often at that point that I hear people say “I wish I had gotten that insurance for my phone”. You know better than to try to save a few pounds and risk spending hundreds of pounds when the unexpected happens.
Typical Misconceptions About Phone Insurance
Believe it or not, there are a lot of people out there who would advise you not to take out a phone insurance policy on your phone. So why would they promote such a foolish course of action? First and foremost, they believe that they are saving money by doing so. While they may be saving a few pounds here and there in the short term, they’re risking a massive loss when the theft, damage or loss of their phone eventually happens. Well, it’s their money after all, so they are entitled to do what they want with it, but I just think it’s such a waste of money when they keep buying new phones to replace the ones that weren’t covered by any insurance.
Another thing that people will say is that they don’t need phone insurance, because they are “careful” with their phone. Even if you’re the most careful person in the world, you’re not immune to accidents. The thing is, these accidents may not actually stem from you! Hundreds of thousands of parents all around the world have had their phone destroyed by their child by accident, and what about all the people who get their phones stolen? Someone could easily lift your phone out of your pocket or just grab your bag and make off with it, and to add insult to injury you will have to pay even more money for the new phone. How is skimping on insurance because you think it’s not going to happen to you clever?
Make no mistake about it, you need to insure your phone, especially if you’ve just bought an expensive new phone. The only time when you would not need an insurance is if you are still using a two or three year old phone that costs more to insure for a few months than to just replace with the same model on Ebay.
Key Phone Insurance Considerations Before Taking Out A Policy
When you’re shopping for your phone insurance policy, you need to be very careful with the one that you ultimately select for your mobile. Choose the wrong cover or the wrong provider, and you’ll be even worse off than if you had just not gotten insurance in the first place. Sadly, there are many insurance providers out there who love the idea of taking your money, but when it comes to paying out your claim, they will try and use every excuse to get themselves out of it.
So the first and most important consideration when you’re considering any policy is to check exactly what it does and does not cover. Trust me when I say that there are going to be insurance representatives that are going to try to rush your decision and get you to sign on the dotted line quickly. The thing is, these people are more interested in their commission check than your well being, so take your time and make sure that the insurance policy suits your needs. Otherwise, just walk away, because there are plenty of other companies and representatives that will give you more than a fair deal.
There are many different ways that an insurer will offer to cover your phone. Certain insurance policies only cover repairs, while others will include full replacement of a new phone, or at the very least reimbursement of either the full or partial cost of your phone. Obviously, the policy that offers you full replacement of a brand new phone will be best, but you must also find out the time frame that your insurer will replace your phone in. It’s no good getting a new phone weeks or even months after filling your claim, after all you’ll still need a phone to use in the meantime.
One big phone insurance consideration is of course how much you will pay in premiums. What you’re looking for here are premiums that will not cost more than it does for you to simply insure it yourself. That means that if you’re paying phone insurance premiums that total up to more than the cost of your phone in a matter of two or three years, then you’re better off just setting the money aside for yourself and buying the phone with that money if anything happens. Generally speaking, good phone insurers will provide a competitive rate for your premiums so do shop around for them and ask your friends for recommendations if they currently have a policy.
Finally, do bear in mind that when you do make a claim, you will have to pay an excess fee as well. The amount of this excess should be made clear to you before you sign up for any insurance policy for your phone, and as is with the case of the premiums, you’ve got to take into account this excess when you determine whether the policy is worth your while or not.
The Final Verdict On Phone Insurance
Clearly, phone insurance is not something that you should even try to skimp on, especially if you have a pricey new phone that is on a lengthy contract or plan. You never know what is going to happen, so better to be safe than sorry and have the peace of mind that you’re protected!