Deciding On The Best Mobile Phone Insurance?

by Simon Carter on 20 Aug, 2012

Your mobile is your life

Now, more than ever, your mobile phone is your life. Well, that may be overstating it a little but there is no doubt that mobile phones are hugely important in our day to day lives. Gone are the days when a lost or stolen phone meant little more than the headache of reproducing all of your contacts; now our phones hold our diaries, our numbers and messages, our emails and our cherished photos and videos. All of this advanced technology means two things; firstly, the phones we buy are now more expensive than ever, and second, they are much more desirable to thieves.

So it makes sense to get your mobile insured but the vast majority of people don’t and the reasons for this are relatively straightforward. There is no respected price comparison site for mobile phone insurance. We are so used to tapping in our details and receiving hundreds of tailored quotes that the thought of contacting a number of insurers direct to find the best mobile phone insurance leaves many of us with a headache.

Covered under your home insurance?

Another major factor is that many assume that their mobile is already covered by their home insurance policy or as part of a bank account deal. If your phone is stolen from your home as part of a burglary, it should be covered by your home insurance alongside everything else. It is worth checking your policy, however, as you may need to have registered the phone with them. If you have accidental damage cover then you should be covered if you damage your phone at home. Be warned, however, that home insurance policies tend to take longer to pay out than dedicated mobile phone plans so you could be ‘mobile-less’ for a while and you will also have to pay an excess as well as losing your No Claim’s Bonus. Unless you have personal possessions cover it is highly unlikely that your phone will be covered outside of your home so, again, check with your insurer.

Bank account insurance?

Many fee paying bank accounts come bundled with breakdown cover, travel insurance and phone insurance. The fee you pay for these accounts is typically in the region of £15 a month, or £180 a year. If the only reason you have the account is for the mobile phone insurance then you should really think about looking elsewhere as dedicated insurers will be significantly cheaper than £180 a year. Again, you must remember to check the policy to see whether you need to register the phone with your bank – you don’t want to find that out too late. Also, check the excess payable on the banks terms and conditions as it can be as high as £100 for an iphone, for example.

Most take dedicated mobile phone insurance from their network provider. This is certainly the easiest method as your premium will be added to your bill each month and you would contact your network in the case of a missing mobile in any case. You do pay for the convenience with prices being higher than other providers.

Some recommendations

If price is your main determiner then you should check out companies such as Gadget Cover, Gadget Guardian, Insurance 2 Go or Protect Your Bubble who all offer ‘budget’ cover with many of the same perks as the service providers. However, the ‘budget’ tag does often mean that extras that you assumed you would get, such as fraudulent call cover, may not be included so tread carefully. This site offers most of the main packages – www.phoneinsurancei.co.uk

About the Author

Simon Carter


Simon Carter is a respected finance writer who contributes regularly to sites in the UK and the USA. He is an expert in personal finance, insurance and corporate finance. Outside of the financial world, Simon is an authoritative voice on marketing and retail.