We've become a gadget nation. We depend on our phone to do our jobs, our shopping, and our homework - or just to have fun.
But that makes losing your phone a major disaster.
Have you thought how much a could cost?
If it's a three-figure sum, you're definitely going to want gadget insurance that will protect you against having your phone damaged or stolen. Let's find out how phone insurance works and how to get the best value protection for your stuff.
Table of Contents
What is phone insurance?
Phone insurance as the name suggests, protects your phone against accidental damage, theft, loss, liquid or fire damage or mechanical failure depending on the level of cover chosen.
What are the best phone insurances?
We selected a few providers that propose the best phone insurance, here are their must-have features:
Do I need phone insurance?
Repairing your phone is much more expensive than just insure it for a few pounds per month. Here is a quick summary of main repair types and cost for your phone:
|Average phone purchase price||Average repair cost||Average insurance price|
£500 on average
£200 on average
From £6 to £8 per month
Mobile phone are valuable items usually, but also so easy to lose or to get stolen. That is why 1/4 brits opted for a phone insurance. Indeed, 1 person out of 4 had a bad experience with their phone in 2019. Most of them cracked the screen, whereas 10% had battery issues. Almost 80% of people want a quote that includes loss, theft, accident, etc.
Having a mobile phone insurance is now something really common, it is better safe than sorry!
Repairs cost around £90 to replace a screen, and for battery replacement it is around £40. Phone insurance is around £6 to £9 per month. Ask yourself: could you afford to pay to replace your phone if it was damaged or stolen? If not, phone insurance is worth considering. You should also think about:
- whether you need your phone to do your job,
- whether you take your phone out and about with you a lot.
How does phone insurance work?
You'll pay an annual or monthly premium, in return for which you're covered in accordance with your policy details. If anything happens to your phone, you can claim on the insurance by contacting the insurer.
If you want to claim for theft, and you re covered for it, you will have to go to the police to declare it.
What is covered by phone insurance?
You will be covered as standard for:
- Accidental damage: your phone will be protected in case of any accidental damage, but it must not be negligence.
- Water damages: often included in phone policies.
- Mechanical breakdown: this is also often covered in policies.
It may also include:
- Loss and theft, though this is often an add-on and you'll have to pay extra for it. (You probably know if you're a 'loser' - if you are, this cover can be well worth taking. The same goes for accident-prone gadget owners.)
You can also add:
Multiple phone insurance
Use of your phone for fraud
Unauthorised usage of your phone
Some insurers now also protect e-wallets.
Phone Travel insurance - worldwide travel for a limited period
What is not covered by phone insurance?
Here are a few exclusions to your phone insurance:
- Some insurers won't insure your phone over a certain age, eg 6 months or 2 years.
- Most insurers won't cover a bought outside the UK.
- You won't be able to insure a you bought second hand, or which has been refurbished.
- And you'll need proof of purchase to insure your phone
- You won't be covered if you don't take reasonable care.
- Some policies won't cover your phone if you use it for work. Make sure you check before you take out insurance.
Your paid-for downloads and apps are unlikely to be covered. You can't claim for the cost of going on holiday again to recapture those holiday photos, either. So if you have loads of data on your gadget, make sure you have a backup.
If you've left your phone on a table in a restaurant or left your phone on the bus, no insurer will pay out on a claim. Some policies will cover you if you leave your phone in your car, but only if it's out of sight (in the glove box or the boot). If you leave it on the passenger seat, you're not covered.
How much it cost to repair your phone?
Just repairing a cracked screen can cost over £100.
With over one in ten UK gadget owners saying they've cracked a screen recently, and almost as many saying they've had water damage to one of their gadgets, there are a lot of people heading to the repair shop or to buy a new gadget. And many of those people will be out of pocket. A few pounds a month isn't much to pay to ensure you're protected.
How much phone insurance cost?
Mobile phone coverage prices differ depending on which phone you're insuring, but as a rule of thumb, a top of the range smartphone could cost £70-90 a year to insure; that's just £6 a month. Compared to the cost of the phone, that's peanuts. It also depends if you took out accidental damage, theft and loss. Adding loss and theft will be a little bit expensive, for exemple Protect Your Bubble proposes a mobile insurance without loss from £2,99, when loss is included it is usually around £4, depending on the value of your phone. Finding cheap phone insurance is quite easy, lot of insurers offers this cover, check our comparator to find the best mobile phone insurance.
How to cancel my phone insurance?
There are two different ways to cancel your phone insurance, depending on whether you want to cancel in the first 14 days, or later.
- The first 14 days after you buy a policy are known as the 'cooling off period' and you have the right to change your mind. You'll usually need to send written notice and include the documents - but phone or email first to give yourself peace of mind and find out if there are any particular requirements.
- After that, things depend on whether you have signed up to a full year or to a monthly rolling policy. You'll need to check your policy documents. If it's a longer term policy you may need to pay a fee to cancel early, and if you've made a claim, you will have to pay till the end of the contract period.
How to make a claim on my phone insurance?
The first thing to know about claiming on your phone insurance is that you need to strike while the iron is hot - notify your claim within 24 hours. Some insurers give you even less time, just 12 hours to make a claim.
Your insurer will have a preferred way for you to claim, whether that's by phone, or via an online portal. You'll need to be able to provide the original receipt for your phone
If your gadget was stolen, you will need to contact the police and get a crime reference number (CRN) to give to the police.
Some insurers will send you cash. Others will arrange for a repair or for a replacement gadget to be sent to you - which is why they need to know exactly what gadget you're insuring. If this makes a difference to you, make sure you check the policy carefully before clicking the 'buy' button.
Can I take out a multiple phone insurance?
Yes, you can have a multiple phone insurance, here are two examples of multi phone insurances and their discounts:
- Switched On insurance offers a 10% when insuring more than two gadgets
- i-Digitals proposes 10% off if you insure 2 gadgets and 40% if you insure more than two gadgets
Some insurers offer bigger discounts the more gadgets you add.