Smartphone insurance: what you need to know
So, how attached to your mobile phone are you? Yes, we know, this is one of those rhetorical questions – of course, you’re more than attached to it. We travel, and we are constantly moving from one place to another, and we are more than addicted to the need to be constantly connected to the world that our phone provides access to. 30 minutes without a good internet connection and frustration starts knocking on the door. But you are right, this is not surprising, no, not even one bit. The fact that most people are not aware of what mobile phone insurance covers and why they need one is surprising. Especially given the fact that this is something you value but often fail to look after. The reality is hidden somewhere between what that costs and how beneficial it actually is.
Let’s dive into what mobile phone insurance is and why you should consider it.
1. The “Just-in-case” factor
“Just-in-case” – many people sign insurance policies mainly because “something might happen”. You don’t always need a significant reason, such as traveling, skiing, hiking, or just being clumsy to have phone insurance. If you value your belongings, then there is nothing wrong with being cautious; that’s what insurance is for. The “just-in-case” reason behind signing an insurance policy is simply an efficient way to protect your phone and in the long term – your savings.
2. Money saver?
Mobile phones are fragile, one innocent drop and there it is, that annoying crack on the screen which might grow into something much more damaging. Even if you do everything to protect the screen, mobile phones remain vulnerable to the possibility of being damaged. To repair the screen alone can be very costly, not to mention that there might be internal damage that needs to be taken care of. Bear in mind that if your mobile gets stolen and you don't have insurance in place, you will have to purchase a new one right away, which means that instead of paying for one phone, you will now be paying for two. In cases where something like this happens, having phone insurance can turn out to be much more cost-efficient. Think of the money you are saving by not having to replace a smashed phone!
3. Included ✅
Everyone knows that insurance policies vary from provider to provider. One of the most important things you will have to do is decide which conditions apply to you and your budget. So, what types of things does phone insurance cover?
- Stolen phone
- Oops (accident) damage
Deliberate (third party) breakage
Imagine any of those things happening to you – dreadful, right? Now imagine this happening while you're abroad, away from home, or even worse – alone 😱… Try to picture how stressful that would be and how much money you will likely spend on trying to repair your phone in a foreign country. This is why, when looking for phone insurance, you should always consider only global insurance companies, which you can rely on to cover you wherever you are.
4. Excluded ❌
After you pick a provider that is perfect for what you need, check out the exclusion clause, and make sure you are fully aware before signing, which cases are not covered in your policy. Usually, this information is easily accessible, so there should not be any surprises along the way. Also, always keep a copy of the policy somewhere safe and easy to find.