Key things to note about mobile insurance cover

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Who takes insurance cover for their mobile phone? Is there really a need for mobile phone insurance? Well, that depends on how much value you place on your phone. If you own the latest iPhone, Blackberry or Samsung Galaxy, then you should know what it means to have insurance cover for your mobile. Not only are these phones classy and well designed, but they are prestigious and expensive as well. Did you know that there are some companies that offer insurance cover for as little as approximately 1.49 pounds a month? And that is only one insurance company. There are also other competitive firms with similar and even lower rates. You could research over the internet to find a few of them. Before you commit yourself to any insurance package, there are a few important things you need to know first. Below are some of them.

It’s for everyone

Mobile insurance is not for the rich people. In fact, that is a notion you should get out of your head completely. This type of insurance is meant for all types of people just as long as they have mobile phones. If you feel like your mobile phone is worth insuring from various risks, then go ahead and get yourself a package. You have nothing to worry about. However, make sure you acquire a sensible package. The last thing you want is paying more premiums in a year than the value of your own phone. Therefore, gauge you have the type of insurance cover based on your phone’s value. However, do this while keeping in mind the benefits the cover provided and weigh your opportunity costs wisely. What you want is to achieve a perfect balance.

It doesn’t mean your mobile will get spoilt

Taking insurance cover for your phone doesn’t mean that it has to get spoilt. Sometimes, you could take mobile insurance for a longer than anticipated period of time. That doesn’t mean that you’ll lose your money to the insurance company though. Some firms actually allow you to cover more than one phone. Others could refund you your money after a stated period in the agreement. Don’t just spoil your phone on purpose to get money either. You will be caught. These firms don’t just dish out money before carrying out a thorough investigation. Remember, your case should align to all their policies. Failure to meet one and you are out! No coverage for you.

What it does for you

Why is mobile insurance so important? To begin with, it covers accidental damage. There is nothing so unanticipated like an accident. Breaking your phone by mistake could be such a disaster if you never had any mobile insurance. However, if you were covered, then your losses would be minimized. It’s not just for accidents though. Some mobile insurance also covers you when you travel abroad. Besides that, some mobile insurance companies could offer cover for your software content such as applications and games.

Despite all that, it all depends with the specified policies of various insurance firms. Mobile insurance will not cover you from some things though. For example, water damage. If your iPhone falls in your swimming pool, then you are totally on your own. You also need to keep in mind that you might not get the new substitute phone that you want. Actually, you might not even get a phone at all. So, be careful how you handle your mobile phone.

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