Why You Should Buy Insurance for Mobile Phones?

Your mobile phones are no longer just another product you keep; it has become an inseparable part of your daily life. With the major advancement in technology, smartphones have become necessary for your personal and professional endeavours. Today’s smartphones not only connect people but also work as all-in-one gadgets since you can access almost everything from anywhere, anytime.

As features are upgraded, new smartphones are coming at quite an expensive price range, making them prone to theft and misuse. With losses and thefts being obvious, the necessity of mobile phone insurance is increasing simultaneously. 

Though mobile insurance is slowly becoming familiar to people, many are still unaware of its importance. If you have a higher-value smartphone, the risk of it being a lucrative target of thieves is pretty obvious. Thus, as you grab the most advanced smartphone for yourself, you need to know how insurance for mobile phones can be a saviour. 

What is Mobile Insurance?

Like any other insurance, mobile insurances provide risk coverage to your device. There are certain criteria under which this insurance covers the risk, such as incidents of theft, damage and loss. The insurance can be purchased at the very moment you buy a phone or within a week of your purchase.

Insurances also vary depending on the amount you spend on the mobile. Most of the insurance of mobile covers one year while some might have extended plans with 2 or more years of coverage.  

Advantages of Mobile Insurance:

There are several perks to rejoice as you opt for mobile insurance. Your mobile phone needs a shield from unwanted threats or potential dangers.

The below-mentioned benefits make it way too essential a requirement for your phone:

1. Based on the choice of insurance, you can even get a brand new phone for a stolen or damaged piece, as a replacement. You will not have to settle for any other models.

2. In cases of theft or misplacing mobile phones, mobile insurances make sure that your entire does not go into vain.

3. If you have recently made a lumpsum investment then you must be worrying about what might happen in case any of the parts get damaged or your phone gets stolen. These are the cases where mobile insurance comes in handy.

4. If a major portion of your work is covered on your mobile phone, you cannot afford any delay in your work due to any untimely damage. Insurance for a mobile phone would save you in such cases. 

Areas Covered under Mobile Insurance:

Several perils are covered under mobile insurance plans. As electronic devices are prone to damage, there can be any software glitch resulting in the complete dysfunction of the device. Other than the technical failures, there are chances of external damages too as it might just slip out of your hand unknowingly.

The common damages, which generally get covered under most insurance plans include:

1. Internal damages caused by water or any other liquid spillage.

2. Hardware failures, such as an unresponsive touchscreen, flawed earphone jack point and charging port malfunctioning.

3. Damages occurred by fire or under certain incidents like riots, terrorist activities and strikes.

4. Damages caused by viruses or malware.

5. Theft of a device while travelling, due to a house break-in or burglary.

6. Loss of device from a secured place. 

Areas Exempted in Mobile Insurance:

Despite covering a vast range, there are still some areas that do not come under the insurance of mobile.

The exempted areas include:

1. Incidents where the phone is lost mysteriously or stolen from an unattended location.

2. Damages are caused while used by a third party and not the owner.

3. Device failure due to mechanical or electronic glitch.

4. Damages caused by routine wear and tear of the gadget, environmental conditions, or any malicious act of the owner.

5. Defects occurring during the ongoing process of repairing and cleaning

How to Claim for Mobile Insurance?

If you still haven’t considered mobile insurance thinking it will be hard to claim, then it’s time you get over such thoughts. It is easy to claim and involves a little effort. The claiming process is more or less the same for most of the providers currently operating in the market. Certain things need to be submitted while making a claim; such as the original invoice of the product, the serial number of the device etc.

Some of the ways to be followed to claim mobile insurance are:

• In a situation like theft, you must submit a statement mentioning that the SIM has been blocked along with an FIR (First Information Report) about the phone.
  
• In case of damages, you need to obtain an expense estimate from the nearest service centre and submit it along with an explanation of the reason for the damage.
  
• It is to be noted that all the documents should be submitted to the insurer within 15 days from the intimation day. The time duration may vary from insurer to insurer.

Key Takeaway:

Do not let any damage or defect of your mobile phone hamper your personal as well as work life. Get yourself covered and stay preferred for any untimely damage to your phone by opting for insurance for mobile phones. Whether you have an old phone or just got a new one, no matter where in the world you live, getting the right insurance plan for your phone is always a wise decision. Mostly mobile insurance companies prefer to provide insurance through some third party. 

One thing you must consider before opting for any particular insurance plan is to check the terms and conditions of the insurers thoroughly and look for other related details regarding the insurance provided. The companies do not always have the same set of plans and limitations.

Thus, compare the policies of different insurers and then pick the right one for you and refrain from paying any extra amount while claiming insurance later on.