Do you think buying mobile phone insurance is necessary now-a-days?

It’s a very common scenario which we can see now-a-days that is we are insuring our mobile phones and gadgets. But, before insuring do we ever think does insurance of our mobile phones and gadgets worth it?

Statistics say that over 2million phones are stolen every year in UK and over 4million phones are getting lost or damaged. So from this data we come to know that there is a high chance of something wrong happening to our precious and our closest mobile phone. But, we can take certain actions to protect our phone from this damage.

It would be better for you as well as for me if I discuss a bit about these actions to you. There are contract phones which are available in the market phone. Allow me to tell you about contract phones. If you carry monthly contract phone and if that phone is not insured, then you need to pay the line rental for the remainder of the contract term or you can replace the phone. Maybe you have received a free phone, but the cost of a contract phone is spread out across the lifetime of rental agreement.

Are your mobile phones and gadgets covered in your home contents insurance?

You should always check if your mobile phone and gadgets are insured. Most policies allow covering for items like this and protecting from theft, loss and accidental damage. You should always find this out with your insurer and be aware of the excess charges and its reimbursement in the event of claim.

Will you need cover for a Pay As You Go contract?

Most mobile phone insurers cover Pay As You Go mobiles and contract phones. But I suggest you not to go for insuring your contract phones unless you have invested in top range mobile phones. To achieve an extra piece of mind you can opt for insuring your contract phone.

Is there any free mobile insurance in the market?

In the present economic scenario, there are various deals present in the market. Some phone providers provide bundled packages as part of your phone purchase. We can think about Lloyds Bank which offers to cover for mobile phones as part of their Silver, Gold, Platinum and Premier accounts. You need to do registration as well as you need to pay minimum monthly fee.

What will your mobile phone insurance cover?

Most policies cover for accidental damage and loss. Fraudulent Call Cover is a lifesaver, esp. if someone steals your phone and then that individual makes call to abroad and increase your bills. Normal wear and tear is not included.

Who are the specialists in mobile phone insurance?

There are many mobile phone insurers that offer you competitive deals. Many guarantee repair or can replace your phone within 48 hours. There are insurers who even allow you to insure more then one phone or gadget at a time with a small amount of premium. The most important thing you need to check whether these insurance companies are FSA regulated.

What will you do if your phone gets stolen?

You need to give call to your service provider, block your phone, register your loss with the Police and ask for a crime reference number. At last, you need to give this number to the insurance providers.