How do I find good mobile insurance?

Do you have a fancy smartphone? Have you lost or broken more than one device? If you answered yes to either of these questions, you probably need insurance more than others. Do not rush into a decision about where to source your mobile phone insurance; there are a number of factors to consider when choosing:

Basics to Consider

It may seem obvious but read the fine print. Many mobile phone contracts make a distinction between forcible theft and ‘theft’, which can mean that if your pocket is picked, your claim might be denied. Many suppliers also make a distinction between ‘loss’ and ‘theft’ which can mean that having your phone stolen stealthily will be designated ‘loss’ rather than ‘theft’ which could mean a higher excess to be paid, or a denial of the claim.

Other reasons that can be given for refusing claims include charges of carelessness and delays in reporting the loss of the phone to the provider and making a statement at the police station. Water damage is a tricky one too. Some policies specifically cover water damage, others specifically exclude it. Those policies that do not mention water damage should be assumed NOT to cover it. If in doubt, speak to your supplier before you need to put in a claim. Do read through the ‘exclusions’ part of your contract in great detail, and know what you are, or are not, covered for.

Extras to Remember

Do not forget any accessories that you have bought for your phone, too. There are some quite expensive attachments that you can buy for phones now, and these should be included in your policy as soon as possible. An example would be a zoom lens attachment which helps mobile phone photos look great – but these small lenses are very expensive and should not be carried around without cover.

Smartphones, these days, double as organisers, calendars, and even workstations, and as such, often have expensive mobile-friendly software downloaded onto them. Sometimes you can reload the software without too much fuss, sometimes you have to pay a fee, or even buy a fresh copy: which means that you will lose all your data too. Backup your phone regularly, and see if you can get cover for your software and apps so that losing your phone does not have to be even more painful.

Report Your Phone Loss ASAP

You may be liable for unauthorised calls or data usage if you are not on a capped package. Try to cap your package so that if a stranger does use the phone, they will not incur bills that you may have to pay. Shop around, as some phone insurers offer premium packages that cover all unauthorised use.

Most Expensive Not Always Best

Do not think that because you are paying the highest premium on the market, that you have the ‘best’ policy. Likewise, do not just get the cheapest policy you can find– shop around and choose carefully, to suit your specific needs, based on your activity levels and the value of your phone. If you are a low risk user, then the cheapest most basic insurance may well be fine. But in general, get, as Switched on Insurance says, ‘cover to match your circumstances’ – your mobile phone insurance must give you the best cover for the least money!

Lastly…

Finally, do not assume that you will get a new phone – in most cases, a repair will be attempted first, and only if that will be too expensive is a new phone offered instead.

With all these tips in mind, set aside a decent chunk of time – at least a couple of hours – to devote to finding the right policy from the right supplier, so that you will have the peace of mind of knowing that you have chosen the best cover for your mobile phone.