Mobile Phone Insurance Recommendations.

Discussion in 'PC and I.T support/Advice posts' started by ringway, Aug 10, 2011.

  1. ringway

    ringway MB Club Veteran

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    Having recently renewed my mobile phone contact, I opted to take the (cancelable) insurance cover at a cost of £10 per month. I think this is expensive but the phone is worth around £500, and given that I'm quite clumsy, I need to be covered.

    My household insurance cover will pay £250 in the event of accidental damage or loss/theft of the handset, so I need to find a policy that will cover the whole cost.
    Although some banks offer free insurance for mobile phones and other items, mine doesn't. :(

    I may just insure the phone for a year (the value of the handset will probably decrease after 12, months) and although I have found a couple of insurers at around £6, per month I'm hoping to hear from any member who has had a positive experience when making a claim.


    Thanks in advance.


    Paul.
     
    Last edited: Aug 10, 2011
  2. BTB 500

    BTB 500 MB Club Veteran

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    Is that the RRP or the actual cost of getting a replacement via eBay etc?
     
  3. Igurisu

    Igurisu Hardcore MB Enthusiast

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    Never made a claim, but found it cheaper to specify the phones at full value on house insurance than take out a seperate policy (there again we have 5 in the house). It was approximately £2 per handset additional on the monthly premium.
     
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  4. rizzer

    rizzer Hardcore MB Enthusiast

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    I pay a monthly fee of £12.95 on my bank account and it covers my phone and includes travel insurance, and other benefits. I just made a claim on travel ins for my camera when in New York, the claim was dealt with over the phone, really good service. So I would hope in the event of claiming for my phone it would be the same level of service.
     
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  5. BTB 500

    BTB 500 MB Club Veteran

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    Sounds like good value.
     
  6. Will

    Will MB Club Veteran

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    I like to live dangerously ;)

    Must have saved a lot more than the cost of my current handset, by not paying for phone insurance for the last 5-7+ years easily.

    I guess that even if I were to lose/break a handset now that I could chalk it up against what I have saved, and still be well ahead cash wise :thumb:

    Worth a thought. I apply the same logic to extended warranties on most other items :)

    You have to remember, that insurance/warranties etc are basically a 'reverse gamble', with the odds comfortably stacked in the favour of those taking your money.

    Ringway - remember that it's not simply £250 of FOC cover vs. £500 that you'd like.

    For that £500 cover, include the costs of all premium payments, plus the cost of any excess and only apply that to the additional £250 that you are paying for. You would, after all, already be covered FOC for up to £250 already.

    And as you mention, phones drop in value pretty quickly - so after a few months or a year, the phone you have now will likely be worth a fair bit less. Perhaps consider that the £250 insurance you already have would cover the bulk of the cost of a used replacement handset, should the worst ever actually happen.

    Just IMHO :)

    Will
     
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  7. BTB 500

    BTB 500 MB Club Veteran

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    I've never personally insured any of our handsets either.
     
  8. Rory

    Rory MB Club Veteran

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    I'm going back a couple of years, but looked at that with NatWest and they specifically excluded smartphones, it only covered basic mobiles.

    Maybe they've changed now, but worth making sure if you're relying on it to replace an iPhone etc.
     
  9. kakahara

    kakahara Member

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    Ya the Natwest Advantage Gold covers pretty much every phone now apart from new Vertu handsets:

    "You can even register an iPhone, BlackBerry or PDA. They’re all included up to a maximum original retail value of £1000 for each phone."
     
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  10. OP
    OP
    ringway

    ringway MB Club Veteran

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    The RRP at O2.
     
  11. OP
    OP
    ringway

    ringway MB Club Veteran

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    Thanks for the advice, everyone.

    Unless I can get the £2 per month per handset (my son also has the same phone) I think I'll take advice from Will.

    I was never keen on the £10 per month, but took the insurance untill finding a more cost effective deal. A two year contract at £10 per month will buy a new phone in any case. :crazy:

    Thanks, once again. :thumb:
     

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