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The quick mobile phone insurance guide

We love our phones. In fact, we love them so much that we’re glued to them almost 24/7. They’re on our bedside tables when we wake up, and they’re a constant companion no matter where we go. Our love affair with top tech seems to know no bounds, which is why we invest so much time, and money, into them.

And we’re talking a lot of money here! Top of the range Apple or Samsung Galaxy phones can easily cost you anything from £700-£1000 – that’s a huge financial investment on a single piece of equipment. That’s why mobile phone insurance is such a smart idea.

Most people take the quick option and buy mobile or smartphone insurance from their phone supplier or network provider (if the phone is part of the package). However, that isn’t always the best option. Buying your insurance from your phone provider can mean that you’re paying far more than you need to, and not getting the cover you might actually think you’re paying for.

As with all mobile phone contracts, insurance provided by networks often have provisos tucked away in the small print. That means they won’t pay out if your phone is stolen, lost or damaged, even if the headline print says they will. So before you sign on the dotted line ‘because it’s easier’, take a few minutes to hop online and hunt around for mobile phone insurance that will give you the cover you want.

Why buy mobile phone insurance?

If you buy a new bicycle that costs a thousand pounds, or a top of the range laptop, you want to protect that investment with some insurance. It’s logical, then, that you’d do the same for a mobile phone. In fact, it’s more important to have insurance because your phone doesn’t spend half its time locked away in your home or garage. It’s in your pocket or bag wherever you go, and so it’s at much greater risk of being lost, damaged or stolen.

Having mobile phone insurance gives you the peace of mind that if your expensive iPhone does fall out of your pocket while you’re out and about, or is stolen from your bag, you’ll have the right kind of insurance to cover the cost of replacing it.

Why not just insure it under your household cover?

Modern house and content insurance policies also include a certain level of cover for personal belongings that you carry on you or have in the car. This can include things like mobile phones, but what you do need to consider is that many of these types of policies will not cover a single item if it’s above a certain value. That excludes many top-end mobile phones which cost much more than the single-item upper limit of the policy.

It can also be difficult to make a claim, especially if the insurance company thinks you may have been partly responsible for the loss or damage through negligence (for example, putting your phone on the table in a restaurant and forgetting to pick it up before you leave). Proving otherwise can be extremely difficult.

Why not just take up the phone network’s insurance offer?

It can be all too easy to simply tick the insurance box on your mobile phone contract when you sign up, without thinking about what exactly you’re buying. You may also find that, because they feel they have a ‘captive audience’ mobile phone networks can charge higher premiums than other insurance providers for mobile phone cover. It’s easy to miss exactly how much you’re paying, too, as the amount is often toggled onto your monthly tariff. Such a small additional fee is easy to overlook, but what you need to do is work out exactly how much you’re paying over the course of a year, and just what kind of cover your policy gives you. It may be much less than you originally thought…

Are you really getting a like-for-like replacement?

You may benefit from a next-day replacement if your phone is lost or stolen, but remember that you may be limited to the models your provider has, and it may not be a like-for-like replacement. So all those high-end accessories may not even be compatible with the replacement phone they give you!

There may also be big caveats as to what type of phone is covered. So you’ll only be covered for the phone that your network gave you as part of the contract. If you decide to upgrade with a SIM-free phone then your insurance policy won’t cover that phone.

Why buy extra mobile phone insurance?

Mobile phone insurance doesn’t just cover the loss or damage of the phone itself. One of the big problems people have, especially if their phone is stolen, is the costs of unauthorised calls. The network will charge the bill-payer or contract holder for any calls put through the phone, including those that a thief may make. Dedicated phone insurance includes cover for the cost of unauthorised calls and digital downloads, fou even more peace of mind.

I’ve got cover on my household contents insurance…

While mobile phone cover can be specified as part of your home contents insurance, there are, once again, caveats that could cause a problem if you make a claim. Not only do household insurance policies often leave out accidental damage as part of your phone cover, but if you do make a claim then it may push the cost of your house content insurance policy up next year.

What do the experts recommend?

At Easy2Insure, we know how difficult it can be to get the right kind of cover for such an important personal item. So we’ve done the research for you to find independent mobile phone insurance that’s both affordable and comprehensive.

Because our brokers have experience of finding specialist cover for mobile phones, they can source the best deals and the best prices for wide-ranging insurance cover that is separate from your home contents cover or any insurance that your network provider may offer. It can be tailored to suit your needs, making it a viable and often much cheaper way of protecting your phone.

We always advise being cautious when you’re out and about, as it’s all too easy to lose such a small item as a phone. But if the worst does happen and your phone is lost, stolen, or damaged, mobile phone insurance certainly helps to soften the blow!