Mobile Phone Insurance – The Future’s Bright, The Future’s Insured

Technology.  A source of wonder and frustration in equal measures.

A shimmering, sophisticated thread woven intricately into the tapestry of our 21st century world.
It certainly makes one feel old to think that some of my favorite, futuristic works of science fiction are now set in the past.

The space odyssey was ten years ago, the evil Arnie robot sent from the future arrived sixteen years ago (and is now an American Politician!?!), and 1984 happened, well in 1984.

Only nine years to go and we’ll all be chowing down on some Soylent Green.

Yes ladies and gentlemen, the future and all its wondrous, technological gadgetry has well and truly arrived and what better example of modern technology than the mobile phone.
It seems like only yesterday when the mobile phone first became common place, yet it was indeed over a decade ago that we first all became addicted to playing snake on our green dot matrix phones. How out dated those phones of the late nineties now seem compared to today’s magical smart phones?

But try to cast your mind back just that little bit further, to those dark days before we all went mobile.
Just how on earth did we get by?
The mobile phone has truly revolutionized the way we live our lives, giving us instant communications and access to all of our contacts wherever we are. The mobile phone has become so central to modern living it seems crazy to think of getting by without one. So with an item this essential, can we really afford not to take out mobile phone insurance?

Well, as with all things important in our lives we need to have some form of cover in case the unthinkable happens and our phone is lost, broken or stolen.

mobile phone insurance

What type of cover however is the important question and as with any decision on insurance you should consider your own unique situation when choosing how best to insure yourself.
The first question you need to ask yourself is; are you the type of person that is likely to lose a phone?

Is this your sixth handset in five months?

Are you the type of person that seems to have tiny mini black holes that follow you around which swallow up your keys, phone and wallet etc? Or are you Mr. (or Mrs.) Organized, knowing where everything is at all times always?

If like me you fall into the former category then I suggest you need an insurance policy. If like my wife you fall into the latter category, then paying out an additional premium may not be necessary.

One option for you organized types is self insurance, where rather than paying a premium to an insurer you pay the same amount into a high interest savings account. This way if you do lose your phone then the money is there ready to buy a new handset. If you don’t, then at the end of each year you have a little bonus which you certainly wouldn’t get from your insurer.
Of course if someone has stolen your phone then they are likely to use it. Not a problem if you are on Pay As You Go but a potential nightmare if you are on a contract and one which self insurance does really allow for. As a preventative measure I would suggest it may be worth asking your provider to bar international calls from your phone as a precaution against this, but it is still a risk that needs to be considered in choosing you insurance options.
If you are like me and are reasonably likely to lose your phone at some point, then a traditional insurance policy is the way to go. However, before you commit yourself to a hefty insurance policy with your mobile provider – shop around.

The salesman that sold you your phone is likely to know a hell of a lot about phones but that certainly doesn’t mean he knows diddly squat about insurance (except that he probably gets more commission if you buy it.) so don’t let him push you into it.
In many instances your existing home insurance may well provide you with cover for you mobile phone even when you are away from home. Also many modern bank accounts are moving away from an interest model to a fee based model and to justify the introduction of these fees extras such as mobile phone insurance are included within the package. In fact it is now possible to get travel insurance, mobile phone insurance and AA membership included within a bank account.

If you are not covered by your existing home insurance or a bank account then it is worth exploring specialist gadget insurance providers such as iphone insurance . You can get decent cover for as little as about £2.50 a month these days. The insurance comparison websites also have a mobile insurance comparison section on their site as well and this would be a good place to start.
Now, where did I put my phone?

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