Do I Really Need Mobile Phone Insurance?

Today nearly half the UK population owns a smartphone, and for most they are used in every aspect of their lives, from updating their Twitter feed in the morning to setting their alarm at night. Smartphones can cost up to £700 to replace, so the idea of them breaking or being stolen is unbearable. With this in mind, taking out mobile phone insurance seems like a good idea. But could you be covered already, and what should you look out for?

Existing cover

Depending on what kind of home contents insurance cover you have, your mobile phone may already have insurance. Your bog-standard home insurance policy is unlikely to include mobile phone cover, but you can get upgrades that cover your personal possessions (anything you take out of the house such as your mobile, jewellery or laptop). This has the added benefit of covering more than just your mobile, and you might be able to shave some money off because you’re adding it to an existing policy. If you’re already covered in this way or are thinking about adding the upgrade, make sure you are aware of what the cover actually gives you i.e. will they replace the phone or give you cash, is there any excess to pay etc. Some bank accounts also give you mobile phone cover, so it’s worth checking out what deal is the best for you.

Take your time

If you can’t get mobile phone cover as part of your home insurance or bank, or you would rather stand-alone mobile phone insurance, don’t accept the first offer that comes your way. Research before you purchase to make sure you get the best deal that’s right for you.

Cross the T’s and dot the I’s

Knowing the ins and outs of your policy before you agree to it can potentially save you money. For example, if your phone is stolen you need to report it to the police within 24 or 28 hours, otherwise you won’t be able to make a claim. Also, the wording of the terms and conditions might prevent you making a claim. If you leave your phone in a bag by your feet at a café and it gets stolen, you may not be able to make a claim as some policies state that the phone needs to be taken from your person or otherwise taken by force. You can help yourself out by downloading the free Prey app that helps you track down a stolen smartphone.

Whichever option you decide, if you own a smartphone then taking out some form of insurance should be cheaper than having to buy a new phone. If you don’t have a smartphone and you’re on pay as you go, it might be more cost effective simply to buy a replacement phone.

This article was written by Jamie Gibbs from Confused.com, the home insurance comparison website.

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