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Lost or Stolen? 4 Major Benefits of Mobile Phone Insurance Policies

[ 2 ] Posted by on January 24, 2013

Broken iPhone

Mobile phones, especially smartphones, are expensive. Losing our beloved handset to theft or an accident can be dramatic. Paying for a new mobile can be more dramatic. Mobile phone insurance policies are designed to minimize the loss, and ease the burden on you should anything happen.

Mobile and smartphone insurance covers individuals against loss, theft, fire, vandalism and accidental damage. This coverage includes things like water damage.  Insurance policies for mobile phones are available from network providers or private insurance companies.

A typical policy will charge an annual premium and have a small deductible. In addition, mobile network providers offer policies with a monthly premium. In some cases, this insurance is only available at the time of purchase. As PC World noted a week or so ago, durable gadgets are on the up from manufacturers. Until a gadget is 100% durable, though, taking the necessary precautions to protecting your beloved tech is important.

Here are a few reasons to consider a good mobile phone insurance policy:

Extended Warranty

Cell phone insurance policies can act as an extended warranty. Warranties usually cover manufacturer defects. They typically do not cover damage due to fire, flooding and other disasters. A cell phone insurance policy will. If your cell phone becomes dysfunctional due to accidental damage, a replacement will be covered under your policy.

A new smartphone costs several hundred dollars. Oftentimes, the premium for mobile phone insurance is $60 per year or less. Most instances of cell phone loss or dysfunction are due to causes that are not covered by a standard warranty.

Insurance policies usually cover phones for minor damage in addition to catastrophic. For example, most cell phone insurance policies will replace phones with cracked screens or damaged software. These issues are often not covered by the manufacturer’s warranty.

Theft or Loss

Because cell phones are so widely used midst the hustle and bustle of day to day life, many users find their phone lost or stolen. The purchase of a cell phone insurance policies guarantees users that their phone will be replaced. After filing a claim, they will receive the exact make and model of the phone that was lost or stolen.

Most insurance companies will send the replacement phone via overnight delivery. In some instances, insurance companies reserve the right to replace the phone with a refurbished model. People who are considering purchasing a cell phone insurance policy should read the fine print.

Peace of Mind

People who purchase cell phone insurance can use their phone with the assurance that they are safe from an unexpected loss. For many people, their cell phone is their only phone. If it is lost or unavailable, they have no way to contact loved ones and business associates.

Shelling out several hundred dollars to purchase a new phone is a huge inconvenience, especially when it is unexpected. Purchasing cell phone insurance gives users peace of mind.

Great Idea for Parents

Parents with children using cell phones can benefit greatly from a mobile phone insurance policy. Kids tend to lose a phone more often than adults. In addition, kids are sometimes more accident-prone.

Purchasing a cell phone insurance policy makes sense. A manufacturer’s warranty is not enough. Cell phone insurance policies are especially desirable for people with expensive smartphones. For just a few dollars a month, cell phone users can buy the assurance that their phone is covered against theft, loss, accidental damage and fire.

This article was written by Levi Watts, a tech writer and published finance blog author. Lately he’s been researching and writing for Protect Your Bubble, a cell phone insurance brand that offers consumers the chance to insure their cell phones intelligently.

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About Jakk: Jakk Ogden is the founder of Technology Blogged. 25, with a love for good writing, you'll find Jakk playing 'Drag Racing' on his Nexus 5 and rocking a pair of Grado headphones. If you love technology, be sure to subscribe to his feed for unique editorials. View author profile.

Comments (2)

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  1. Thanks for sharing the benefits of mobile phone insurance policy. Nice post.

  2. Denny says:

    I agree, gadgets are not expensive that’s why if we lost them, it would be really a problem for us. Sometimes we don’t expect on certain events that could happened, that’s why it would be better and safe we could consider some safety net just like having some insurance.

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