Introduction 

Mobile phone insurance has recently started gaining attention although not many smartphone owners are aware of it or are willing to purchase it. Loss or thefts of smartphones have become commonplace, making it all the more important for owners to insure their devices. For higher value smartphones, this protection is even more important as they are very lucrative targets for theft.

Smartphones have almost become a necessity as they aid in everything that we do. Initially, smartphones had only basic features, however, these days they are equipped to manage your entire personal and professional life. Beyond the functionality they offer, smartphones have become a status elevator in terms of spending abilities and style.

Advantages of Mobile Insurance

Today smartphones have become a necessity for almost every individual and therefore mobile insurance can be one’s best friend. Listed here are just some of the benefits which mobile insurance provides, making it more of a requirement nowadays.

  • Depending on the policy which you choose, you can get a replacement for your stolen or damaged smartphone (same model) without having to downgrade to a lesser advanced model.

  • You have recently purchased an expensive smartphone and you wish to safeguard it from theft or damage. A mobile insurance policy can help you in that regard.

  • A mobile insurance policy is a smart purchase if you hold a history of having lost or broken your previous phones.

  • If you rely heavily on your smartphone for your day-to-day activities and would need an immediate replacement in the event of damage, mobile insurance would be of great help.

Types of Mobile Insurance Covers

Mobile insurance covers offer protection against a number of perils and damages to the phone. Since smartphones are electronic devices, they could be prone to software failure which can often render the device useless. Apart from internal damage, external damage can also occur due to various reasons. Here are some of risks and damages which are commonly covered under mobile insurance policies.

  • Internal parts damage affecting the working of the phone, for example, due to water spillage.

  • Hardware failure such as malfunctioning of the touchscreen, faulty earphone jack or charging port issue.

  • Damage caused by fire.

  • Damage due to riot, strike, terrorist activities.

  • Damage caused due to malicious intent.

  • Screen damage.

  • Loss of device due to theft, house break-in, burglary.

  • Loss of device from a securely locked vehicle or building.

  • Damage to the interior or exterior components of the device.

Exclusions in Mobile Insurance

Mentioned below are some of the exclusions which do not get covered under mobile insurance policies:

  • The phone has gone missing mysteriously.

  • The phone is stolen from an unattended building or vehicle. Theft of the mobile phone from vehicles that are left unattended.

  • Damage or loss of phone during the period when it was being used by a third party, other than the owner of the phone.

  • The phone has a mechanical or electronic breakdown.

  • The phone is overloaded or experimented with under any abnormal conditions.

  • Damage due to routine wear and tear of the device.

  • Damage due to change in climatic/atmospheric conditions.

  • Damage due to any wilful or malicious act caused by the owner of the insured device.

  • Defects or damage that has been caused during the process of repairing or cleaning the device.

List of Mobile Insurance Providers

  1. OneAssist – OneAssist provides insurance protection for items of daily use, such as mobile phones and tablets, wallets, laptops, and home appliances. The company provides cashless repair services using spare parts that are 100% original. It also offers free doorstep pickup and drop services and many other benefits.

  2. AppsDaily – AppsDaily offers anti-theft protection for mobile phones through its app. The app also supports 14 other features that include cloud scan, call management, battery optimiser, etc.

  3. SyncNScan – This insurer offers protection for your mobile device from theft and damages by violent means. The app also automatically backs up data and restores it when needed. Tracking and deleting viruses/spam messages and finding/locking the lost phone are other features of the app.

  4. OnsiteGo – OnsiteGo allows you to protect your electronic devices in a hassle-free and transparent manner. The company’s flagship product protects your devices even after the manufacturer’s warranty has expired. The coverage under the mobile insurance plan includes physical or liquid damage as well.

  5. Times Global Insurance – The insurance solutions provided by the company include coverage for liquid damage, screen damages, theft of the device, malfunctioning, display/camera issue, accidental damage, or breakdown. There is no need for elaborate documentation for the insurance purchase. No Claim Bonus facility is offered to customers who do not raise any claims in a year.

Mobile Insurance Claim Process

The process of filing a claim under mobile insurance is easy and hassle-free. You must provide the insurance provider with the purchase invoice/bill of your smartphone, along with its serial number. It is important to file an FIR (first instance report) for the missing phone within the first 24 hours following its theft or loss. You can file for a claim within 48 hours, along with the claim intimation documents and the FIR.

FAQs

  1. Why should I buy mobile insurance for my phone?

It’s always a better option to protect your mobile with mobile insurance. It can be beneficial for old as well as new phones and can help repay for any damages, theft, or damage to the phone, thereby saving you some money.

  1. When does the policy come into effect once I finish the purchase process?

The effective date of the policy will be clearly mentioned in the policy document by the insurance company. The policy usually comes into effect after the premium is paid.

  1. Is a mobile phone purchased outside India covered under this mobile phone insurance?

The Mobile Screen Insurance policy is restricted to domestic mobile manufacturers and models available in India and to Indian residents only.

End Note

Today, smartphones have become an important tool for every individual and any form of loss or damage to it can be heavy on the pocket. Whether you have an old or new phone and no matter where you are in the world and regardless of who's using your phone. Mobile insurance will protect you against any form of damages or loss of your phone and ensure that you are reimbursed for the same.