Do I Really Need Insurance For My Smartphone

Insurance, Smart Phone, Mobile, Risk Cover, Damage,theft insurance for mobile

Today mobile phones are coming along with the insurance. The insurance is for if mobile phone gets wet and damaged, the insurance company will get it repaired. And if it gets fallen and damaged then also they will get repaired. And even if it is lost then also they will give a new handset. For that you have to pay a little more for your mobile phone. And many customers are still not taking the insurance for mobile phone. They think that paying this more amount is irrelevant. So the question is do they really need Insurance for their smartphone? After reading this article you will get an answer for that.

There are many companies that are providing mobile insurance like Syska Gadget Secure, Apps Daily, Mobile Assist, Sync N scan, Onsite Secure, Warranty Bazaar, New India Insurance, Pick me, etc. The things which should be looked upon while buying Mobile insurance can be as below:

Future:

As it is said that future is uncertain, ant thing can happen in future. And no one can predict future also. Suppose you have bought a new smartphone. And it if gets lost, stolen, or damaged in the first few months of his owning it, then it's a terrific bargain. But if he goes two years with not so much as a scratch on your precious new gadget, it's a waste of money. And hence people are more willing to save their money which they would have paid for insurance premiums and deductible and hope nothing bad happens to their Gadgets. While some would prefer to have the peace of mind that comes with knowing their device can be replaced right away without having to pay full price for a new handset.

Mobile cost:

If you are having an expensive Phone like IPhone 7 then you should have an insurance plan. But if you are having a phone that is costing around Rs. 5000 then its good if you buy a policy or else also it is good. So, before buying mobile phone insurance you should keep in your mind the mobile phone cost.

What exactly you get from Mobile Insurance:

We must also what exactly we are getting from a mobile insurance company. At a basic level, mobile phone insurance covers you in case your phone is lost, stolen or broken. Some policies also offer cover for:

Accidental damage

Loss

Unauthorised calls

Apps, games, music and other valuable content

Protection while abroad as well as in the India

Phone accessories

And this can vary in different kind of policies.

What the policies don’t cover:

You should also know that what are the main exclusions that appear in a policy? Following can be the main exclusions:

Carelessness: If you are very careless with your handset generally companies don’t pass the claim. Carelessness like you were travelling by Car and you show your Mobile outside the window and suddenly you drop your mobile phone. Your insurance company may not pay the claim on the basis that you didn’t take reasonable care.

Theft because of your Carelessness: If you lose your phone because of your carelessness then some companies won’t accept your claim. This means that you have gone for a dinner in a restaurant and you have kept your mobile phone on a chair seat and while leaving you forget to take it. And when you are returning back you don’t find your Mobile Phone. So, this kind of things doesn’t get your claim pass.

If Delayed in reporting that your phone is lost or theft: You should report immediately when your phone has got lost or stolen, because insurance companies have limits that if delayed by 24 hours some companies won’t accept your claim. So, when the phone is lost you should report it to insurance company or police.

Water damage done carelessly: Some insurance companies don’t accept the claim when a mobile is carelessly gets in contact with water. If you have kept your Mobile phone inside your pocket and you forget it and take a shower then mobile insurance company won’t accept your claim. Again, you might find you’re not covered here because you haven’t taken reasonable care.

You won’t get a new handset: Some insurance companies don’t replace the phone when it is damaged instead they repair it and give it back to you. But generally it takes a time of around 4 to 7 days for this activity to happen. So, during that time you will be without your handset.

Younger People: Some companies don’t cover if device is been used by under 18 years or in some case under 16 years person.

How much deductible amount you would require to pay:

Whenever you go for an insurance policy you must know that how much deductible amount you have to pay? Because not all the insurance companies has less amount to pay while Mobile phone is replaced. Most people when they sign up for these insurance plans don’t realize there is a fairly large deductible. The deductible amount can be ranging in Thousands. The amount depends on kind of the phone you own and how new it is. So think twice before thinking of buying Insurance policy because of deductible amount you have to pay.

What Kind of replacement Phone you will get:

It is very necessary to know that what kind of replacement Phone you will get when you ask for a replacement. If your phone cannot be repaired, most insurance policies say they will provide you with a replacement that is generally comparable to the device you had — but you might not even get the same model or brand as before, and you may wind up with a repaired phone rather than a brand new one. Some Insurance companies don’t even repair the phones but instead gives reimbursement amount based on the retail value of the phone.

Self-Insurance can be thought upon:

Self-insurance here means that instead of taking the Mobile insurance you can yourself do your own insurance. This can be done by simply save up the money you would have spent on mobile phone insurance towards a rainy day fund. Once you’ve built up a fund, you’ll have the money to replace your phone if you ever need to or any other unexpected costs. So, this can be done.

Now, whether to buy Insurance policy or not depends on another factor that you can buy it if you have a history of lost or broken phones, you couldn’t afford to replace the handset and you wouldn’t want to downgrade to a cheaper model and you rely on your mobile phone and would need an instant replacement if it was lost, stolen or damaged. So if you are of this category then you should have it. Unless without it can do.

Do I Really Need Insurance For My Smartphone

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