Mobile phone insurance may not be essential but in some situations it may be highly desirable.

Your phone

Over the past 20 years, the mobile phone has evolved and changed to become an essential part of life for many people worldwide.

In business it would now be almost unthinkable for key people not to have a mobile with them when ‘out and about’. The days when it was acceptable for business people to be un-contactable while travelling are long gone.

Socially, they are also close to indispensable. It isn’t just teenagers chatting to each other either. Many parents now take for granted that they can contact their children if they’re out to find out where they are and ensure that all is well. The same is true for wider friends and family networks.

Complex functions

Mobile phones are now rarely just phones. Many contain cameras and have also merged with Internet and small computer technologies to produce the PDA and iPhone etc.

This means that they may well be at the absolute centre of your social and business planning and co-ordination.

Phones are vulnerable

Mobile phones are by definition small and typically valuable. They are also frequently taken everywhere we go.

The net result of this is that they are vulnerable to a number of risks including:

• theft;

• loss;

• accidental breakage;

• breakdown.

It’s a fair bet that if any of these things happens, you may be facing some serious expenditure.

Options for protecting your phone

If you are concerned about the above risks, you probably have two options:

• do nothing and hope you stay lucky – being prepared, of course, to pay a lot of money if your luck runs out;

• purchase mobile phone insurance.

Mobile phone insurance

Mobile phone insurance exists to help you cope with the financial effects of the loss of your mobile phone. Typically this insurance may be tailored to form part of a wider ‘gadget insurance’ policy designed to cover a range of devices including things such as cameras and laptops.

A policy of this type will typically cover a range of risks including theft, loss, breakdown and accidental destruction (the loss of iPhones may not be covered for loss on most policies).

They may also provide additional benefits such as:

• free data backups;

• cover for your travels worldwide;

• replacement of items within 48hours (though not necessarily new-for-old).

Conditions

All insurance carries conditions and these are outlines clearly in the policy and related documentation.

Typically iPhones cost a little more to insure and they may be subject to some special conditions. They will not usually be covered for loss.

Thinking about gadgets

Your mobile phone is probably just one of a number of gadgets that you now take for granted. Many of them are equally as vulnerable as your phone and may be in need of protection.

Thinking about mobile phone insurance in the context of your overall gadgets insurance needs may offer you options to save yet further money. You may be able to customise a policy to meet your exact needs across a range of your devices. Finding out more may be a smart move!

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