Eric Wertz

Introduction In the past, mobile phone insurance has been unpopular amongst consumers. Many have been put off by its price, level of cover and its ridiculous list of get-outs when claims are made. However, as time has gone on, phones have continued to develop and increase in value with some of the top Apple, Sony and Samsung products boasting £600+ price tags. The need for insurance With this in mind, many are reassessing the need for mobile phone insurance not only to cover themselves against loss but also against damage too. For example, if you drop a brand new Samsung Galaxy S4 and crack the screen leaving the touchscreen unusable then you can expect the repairs to cost up to £170, and This cost isn’t exclusive to the Samsung range. All smartphones using the latest gorilla glass technology will prove extremely costly. ‘Possessions outside the home’ Firstly, before parting with any money you need to check that it is not covered under your home insurance. When you took out your policy you’ll have been given a handbook, check the ‘possessions outside the home’ section some policies will cover you against the loss or damage of mobile devices, or you may have to add it as an extra for a small cost (still considerably cheaper than other options). Insurance via your network provider Arguably the simplest way to insure your device is to include it within your android app programming networks contract. Often, the sales agent will give you the opportunity to take out the insurance when they sell you the contract. However, just because it’s the simplest way to get insurance, it certainly isn’t the most cost effective. For example, a theft, accidental loss and accidental damage policy from Vodafone will cost you £12.99. Gadget Insurance Alternatively, you could go through a specialist technology insurance company like Foneguard or Protect My Bubble these are likely to cost around £7 per month for the latest smartphone or tablet. Barclaycard also offer competitive gadget insurance, you don’t need to be a cardholder and the terms are fairly similar to those offered by companies like Protect Your Bubble. Read the small print It is extremely important that you read the terms of the policy carefully prior to signing any agreements. The last thing you want to do is pay each month only to find it’s full of exclusions and get-outs that make it extremely tough to get your money. Precautionary measures There are a number of precautions that you can take in order to reduce the risk of theft or damage: Don’t walk and text Not only does this significantly reduce your special awareness (increasing the likelihood of bumping into something or someone and dropping the phone), but it also reduces your awareness of what’s going on around you, making it easier for a thief to sneak up and steal it. Be wary of people on bikes/ mopeds it has been in the news recently that people on bikes and mopeds are targeting iPhone users which they steal and ship abroad to sell. Text with your back against the wall This way no one is able to come up behind, and it gives you more stability than walking and texting. Conclusion When thinking about whether or not you need mobile phone insurance you need to weigh up the costs vs. the potential cost of theft or damage. If a 24 month policy is going to cost you £150 and your phone is only worth £100 then it’s probably not worth it. However, if your phone is worth £600 and a broken screen alone would cost you £170 then it’s probably worth your time to take out a policy.