If you have a mobile phone, especially if it is expensive, you might want to look into protecting your investment by getting some mobile phone insurance cover. Believe it or not, this coverage, just like auto insurance, could save you a great deal of money. In the paragraphs below, we are going to talk about this coverage and why you should always consider having this protection for your device.
Going through your phone network service provider or High Street phone retailer for your insurance could actually be quite a costly option. There are now other 3rd party companies that are offering the cover at a lower and more affordable price. In fact, banks are also starting to offer value for money deals. You could pay a small amount each month for your bank account to be upgraded and could find that it also offers mobile phone protection among some other extras.
You should find the best coverage possible for your circumstances. The coverage should still be a high quality insurance product, yet a good price. For example, some companies charge five pounds per month for a good quality service and that is definitely worth it to many, especially if you have a gadget that is worth five hundred pounds.
Of course, in order to get the coverage on your hanset, you will probably have to put down a payment, which could be monthly, or if you choose, the full policy fee for a year.
The terms and conditions will let you know what is or is not covered in the policy and this is something that you should read before you invest in any insurance product. This is very important if you have a habit of switching SIM cards, which can invalidate some policies.
Many companies want to make sure that you are not just taking out the policy because you have recently found a problem with your device. They do this by setting a cooling off period, which can last between 0 to 40 days, depending on the company. While this is a great idea for the company, it can be a bad idea if you end up dropping your new phone at some point during that time frame.
If your gadget breaks down, the coverage you have may protect it. This is good news for you, because that means you will not have to fork up the extra money to repair your mobile phone after the warranty has expired.
Getting good quality mobile phone insurance is a good idea if you are forgetful with personal possessions, or if you are prone to dropping your handset! If the gadget breaks and it is beyond repair, your insurance cover should replace it with a new one for you [subjet to individual insurance companies terms and conditions]. Some people belive that mobile phone insurance is not worth the money, but it is worth considering more now than ever before, with the higher value of handsets in the form of smartphones, such as the iPhone. Many smartphones have soared in value over the last few years and contract lengths have extended, so protecting your handset might well prove an effective solution for you.
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One final note on mobile phone insurance
With refference to the fraudulent call cover offered by many providers:
It is important to be aware of the two different kinds of fraudulent call cover and how it works, along with the protection it may or may not provide you should your monthly contract phone fall in the hands of criminals.
Type one. A fraudulent call cover is advertised, quite often with a high level of cover, but when the terms and conditions are examined it becomes apparent that the cover only starts after the phone owner has advised their network provider that their phone is missing. This makes the fraudulent call cover potentially worthless, as the network provider will instantly block the SIM and no calls can be made.
Type two. A fraudulent call cover with a lower level of cover, but will cover fraudulent calls from the time you loose your handset to the time it is reported to the network provider.
Page last updated: 22/09/2012