What is Mobile Insurance and why should you get your phone insured?

Imagine a situation where you suddenly discover that your mobile phone has gone missing. Heartbroken and shattered, you try your best to retrieve it by all possible means but fail. What to do now is your next question? This is when you realise how important mobile insurance is?  

What is mobile insurance and why should you go for it?

As the concept of mobile insurance is a new one, not many mobile phone users are aware of how it works and protects their precious mobiles against theft and accidental damage. In brief, the purpose of insurance is to get protection for everything that isn’t covered under a warranty. It also covers you for mobile repairs or replacement which helps especially once the warranty expires. 

Gone are the days when mobiles had basic features. With the introduction of new technologies, every new edition that is rolled out is better than the previous ones, having extra unique and extensive features. With added facilities and glamour, the prices have also risen considerably, making smartphones a status symbol. This makes them a soft and lucrative target for pick-pockets and thieves. Besides these, mobile phones tend to just slip off your hands resulting in cracked screens, water-related damage and hardware or software damage or failure. So, if you are planning to buy the latest edition of your favourite mobile phone, have your precious mobile covered against all types of damage by sensibly buying a mobile phone insurance policy and rest assured to be compensated regarding genuine complaints.  

Reasons advocating mobile phone insurance

Some reasons for which mobile insurance is necessary are:

1) If you are prone to mobile accidents or having mobiles stolen/ lost.

2) If you cannot afford the same expensive handset and would have to settle for a cheaper one in case of a loss or damage to the previous one.

3) If you are personally and professionally dependant on your mobile phone and would certainly want to have it replaced instantly.

Although these circumstances might make you think that mobile phone insurance is indispensable, there are some constraints.

1) Mobile insurance is quite expensive.

2) The mention of terms and conditions that apply makes it difficult to claim for the insurance.

 What does mobile phone insurance cover for you? 

1) Parts damaged due to water spillage.

2) Any internal or external parts damage.

3) Hardware failure; a fault in earphones, phone charging parts and faulty touch screen.

4) Theft of the device, even in a foreign country.

5) Damage due to fire accidents.

What does mobile phone insurance not cover you for?

1) If the damage is caused due to your sheer carelessness.

2) You won’t be covered for any damage if it is found to be done intentionally and to obtain the claim.

3) If your mobile has been stolen when it was left unattended.

4) If you take too long in reporting the theft or missing of the phone to the local police station.  

5) If the phone does not have a proper sim card, the company can object to the claim.

6) If your phone is damaged or the software or hardware breaks down, it is not sure you will get a new phone, as some insurers will provide you with a refurbished phone or offer to repair your damaged one at their expense.

7) If the owner of the phone is under the age of 18 years, it will be difficult for you to claim insurance cover for it.  

Some popular mobile insurance companies in India

Although there are many upcoming mobile phone insurance companies in India according to some reliable market research portals, we can name a few for your benefit.

1) Syska gadget secure- It provides mobile protection against damages and theft. The insurance policy is valid for up to one year and it does not cover old mobile phones. The plans can be purchased from the company portal at the rate of Rs. 1,199 or from Amazon.

2) Sync N scan- It provides mobile insurance for new phones for one year at Rs.249 per month. The main providers are Amazon, Snap deal, Flipkart or you can procure the insurance on the web portal of the company.   

There are some more mobile insurance companies like Gadgetcops, Warrantybazaar but we insist that you should have full research done before signing in for their insurance policies as hidden clauses may prevent you from availing the promised claims.   

Conclusion 

Having mobile insurance is a good idea, especially if you are buying an expensive high-end phone. It is important for your peace of mind but it might not be of any use if the insurance company finds that the loss is purely because of your negligence. Also, be sure of how you lodge your FIR as that is going to decide the fate of your claim