What is Cell phone Insurance?
In the age of smart phones, a mobile is probably one of the most treasured objects that one carries. Not just for communication, a cell phone has many other interesting features like internet accessibility, video recording, MP3 player, radio and of course camera. With all these additional attractive features, it becomes one of your most treasured possessions. And for the same reason it could fall prey to theft. Not only that you can accidentally damage it or lose it. Ever wondered what would happen to you if you lose it? To save at least some part of your investments you have various insurance coverage plans for cell phone. It’s just like any other home or vehicle insurance, however, it is your personal choice to decide on the plan. With immense competition among the insurers the insurance comes for a very reasonable rate.
Why do you need cellphone insurance
With every passing day, there’s a brand new mobile phone in the market. Out of the million models available, you get yourself a stylish, high-end mobile for yourself. However, while buying the phone, you might be asked if you want to insure your phone. Well, you might wonder ‘Is buying cellphone insurance worth it? Well, it sure is! A mobile insurance helps covering for different mundane problems. Be it in case of a theft or losing it accidentally, your insurance would take care of all those eventualities. The best part is you just have to pay a very meager amount. Here are a few things that you need to understand and take into account while buying cellphone insurance.
Advantages
It is advisable to insure your expensive phones. By doing so, you can have a piece of mind even if you lose it. Your phone may fall prey to some unintentional damages. In those situations, you would be thankful that you have insurance for your cellphone. These days, you have so many insurance plans available in the market that cover nearly anything that happens to your cell phone. Be it, slipping into the toilet, losing it or even performance issues you may face with wear and tear. Your cell phone insurance covers it all. The best part is , in case anything goes wrong with your cellphone, your policy can completely replace your handset.
Disadvantages
Though there are many advantages and one might wonder if there would be any disadvantages to opt for an insurance cover for their cell phone.
1. If you are lucky enough and you have a smooth performing cell phone safe with you and you are paying a small amount every month towards coverage, in the long run the insurance amount that you would end up paying might be more than the price of the cell phone.
2. The cell phone warranty might itself cover up some aspects without you opting for the claim.
3. Insurance premiums add up to the cost of the cell phone maintenance.
4. There would be some fine print limitations for every policy. It is often not necessary that everything will be insured. After all, you might not be benefited much when you go for a claim.
Types of cellphone insurance
The generally available insurances for cell phones are basic, loss and accidental.
1. Basic: This type of insurance covers manufacture defects and also other software and hardware problems that one might face.
2. Loss: This covers all the basic insurance policies, in addition to covering up if your phone is lost. For this, you need to submit a police report that your phone is lost.
3. Accidental: This policy covers both basic and loss damages along with any physical damage that may happen to the phone.
The cell phone insurance is provided by third party companies and not by the cell phone provider. The third part companies make a deal with providers to cover the cell phones they sell. You can also get homeowner’s or renter’s insurance cover that can cover cell phone thefts or if your home is broken.
Things to keep in mind while buying it
Investing in cellphone insurance is a smart investment option. Based on the individual circumstances, you need to opt for an appropriate insurance plan for your cellphone. Often people do not realize the importance of this investment. Only if something happens to their phone and it cannot be replaced or repaired, they realize the importance of the insurance for cellphones.
1. Check if features of the phone are covered under the insurance plan: When choosing a mobile insurance, check if it covers all features such as the keypad not working to the screen black-outs. This might comes handy when your warranty period from the service provider is over.
2. Check if it covers weather accidents: You may be in different climatic conditions at times. And due to excess heat or cold your cellphone might stop functioning. If you foresee this as one of the problems you may face in future, go for an insurance that extends cover to weather accidents.
3. Research before zeroing in on an insurance plan: It is advisable that you do your bit of homework before you opt for a plan. Go through the reviews of each company and come to a decision. Consider the timeline and process each insurance company takes. Work out cost of the investment. With so many insurance policies in the market, you’ll have a good deal somewhere. Read and understand carefully all that is covered and not covered under a particular policy before considering for an insurance policy of your cellphone. Focus on things that you need and look for an appropriate policy. Opt for a convenient package and policy plan offered by the insurance company.
Now that you have a fair understanding of the insurances available for cellphones, you would be the best judge to determine the worth of having an insurance coverage for your cellphone.
