Smartphones are invaluable devices we  nearly all use on a daily, hourly or even minute by minute basis. Their worth has steadily increased as they have evolved from rather crude instruments to the internet-capable machines of today. Therefore, it makes sense that consumers are financially protected in the event of an accident, damage or theft. This is where mobile phone insurance comes into play. Let us have a closer look at what these packages entail.

A Look at Typical Insurance for Mobile Phones

As opposed to having to pay substantial out-of-pocket costs if a phone is damaged or otherwise lost, mobile phone insurance cover provides a financial “buffer” that is meant to remunerate the policyholder up to a certain amount. In many ways, this is the very same principle that is utilised within similar policies such as car or house insurance. As with these other options, policies are defined by their maximum coverage levels while there can be a slight excess that is required to activate the account.

Coverage Options

In most cases, clients will enjoy some basic levels of coverage. These include:

  • Accidental breakage.
  • Liquid damage.
  • Theft.
  • Loss.

However, this is where the similarities end. The length of the policies tend to differ although most can be renewed on a yearly basis. Additionally, there may be instances when other devices can be added to a single plan for a reduced overall rate. Depending upon the exact age of the phone, the client may be required to pay more or less. Finally, devices older than three years may not be eligible for this type of mobile phone insurance.

Tips and Options

Choosing the best provider can be a bit tricky. As there are literally dozens of companies within the United Kingdom which offer such plans, how are you to know the correct plan to activate? The first concern will revolve around the premiums paid in relation to the levels of financial protection. Some plans will provide well over £1,000 pounds in remuneration. These can be ideal for newer phones such as the Samsung Galaxy or the iPhone 6. Still, this is ultimately up to the customer. Some additional questions that should be asked include:

  • Will rates lower if there are no claims filed?
  • How often will the policy need to be renewed?
  • Are there any hidden fees?
  • What is the excess and will it need to be paid every year?

Choosing the best policy can be simple if these factors are kept in mind. As opposed to being faced with a hefty replacement bill, insurance for mobile phones is an excellent option to consider.