Mobile phone insurance has been present in the market for quite some time now, but not a lot of mobile phone users are aware of its existence. With the increasing number of losses and thefts of phones, mobile phone insurance has started getting its fair share of the limelight. Getting your phone insurance becomes imperative, especially when the phone is expensive, as these phones become easy targets for robbery.
In today’s world smartphones are one of the most basic necessities without which people cannot carry out their everyday life. It stores all the important information, right from the contacts to important files. That being given, losing a smartphone can be a major loss. Moreover, smartphones these days have become a status symbol, all the more reason why people prefer buying high priced phones. The higher the price of your phone the more important it is to get insurance for phone.
What exactly is phone insurance?
Phone insurance works exactly like other kinds of insurance, meaning it offers a risk cover to your phone. It provides a cover for mishaps related to your insured mobile phone such as damage, theft, loss and so on. One can get insurance for mobile phone either while purchasing the phone or within a few days from the date of buying the phone from the mobile repairing and insurance website XtraCover. The premium of the insurance is based on the price of the purchased smartphone. The tenure of the insurance cover usually lasts for a year or two.
Coverage offered under mobile insurance
There are various phone insurance companies in the market. Each one of them provides a wide range of insurance plans. They usually provide covers for a few, all or any one of the causes given below.
- Damages occurred due to natural calamities.
- Damages occurred due to a riot or strike.
- Burglary from a locked vehicle or building.
- Unintentional disclosure to any kind of fluid that can damage the device internally.
- Unintentional external damages that can lead to a total breakdown of the phone.
- Loss of the phone due to carelessness, for instance, misplaced, lost, forgotten, etc.
- Damages occurred due to attempted robbery.
- Loss occurred from intentional negligence.
- Loss occurred while being used by another person.
- Damages occurred as a result of incorrect configuration and installation.
- Damages that take place outside the territory of India.
- Damage to the screen.
- Damages occurred as a result of housebreaking.
Top five reasons to buy a mobile insurance plan
Insurance of mobile phones is crucial for every phone buyer and its importance cannot be stressed more. Below we have laid down a list of reasons which will help you understand the importance of buying an insurance cover for your priceless smartphone.
Deductibles prove to be cost-effective
When you lose your phone, it can become quite expensive to buy a new phone right away. But if you already have insurance for phone, all you need to do is pay a certain amount of deductible while making the claim. This deductible comes at a fraction of a price when compared to the cost of a brand new phone. Moreover, the monthly premiums of the insurance covers, especially the one provided by XtraCover, are quite low and easily affordable.
Having a good phone cover is not just enough
Investing your finances in a good phone case is important to protect it from the bare minimum scratches and fall. However, it is not enough to provide overall protection from unfortunate incidents such as water damage, loss or theft. According to recent studies, more than eighty million smartphones are damaged or stolen every year within just 2.5 seconds. However, with the presence of sites like XtraCover, you can easily make a claim for your damaged phone instantly at your convenience.
Repairs are not always safe
Depending on your warranty, you may or may not always have the opportunity to get your smartphone repaired. Moreover, phone repairing often does not cover a lot of options such as theft, lost or waterlog issues as it is not included in the warranty clauses. Moreover, if any other issue arises after repairing the phone, the maker does not take any responsibility for it. This might lead to a significant loss of money and time without having any fruitful outcome. Hence, it is important to purchase phone insurance, to assure that no matter what happens to your phone, it will be smoothly taken care of through the company’s insurance cover policies.
You can use your phone without any worries
Well, we all have car and health insurance which we might have never ever needed, but we still have it, because ‘what if’? That is exactly why you need phone insurance too. Getting your phone insured can give you peace of mind. Nobody wants to hamper their assets willingly, but just in case something happens, somebody must cover the expenses. Thus, once your phone is insured, you will know that if any damage occurs then the respective insurance company will take care of it. Moreover, there are certain impressive benefits that you are likely to receive with purchasing insurance for mobile phone such as doorstep services, on-time replacement and cashless and paperless policies which are offered by XtraCover’s insurance plan.
Benefits of buying an insurance cover
The benefits of insuring your mobile phone are plenty. Some of them are given below.
Insurance can be purchased after the phone has been bought
Unlike car or bike insurance, insurance of mobile phones can be bought days after buying the mobile phone. You do not have to pay any penalty fee for getting your phone insured later. But there is a certain window within which you need to buy the insurance cover and it varies from one company to another. However, it is quite flexible.
The claim making process is simple
Making a claim for phone insurance is pretty simple and hassle-free. Companies like XtraCover hardly take time to file the claim. Moreover, they try their best to make the entire process as smooth as possible. All it needs is raising a request or giving them a ring to have a thorough understanding of the process.
Phone insurance covers aspects that are not listed in the warranty
As mentioned earlier, the phone warranty does not cover all aspects concerning the damages of the phone but insurance safeguards your phone from all kinds of potential damages. Thus it is beneficial to get your phone insured to prevent it from potential threats.
Provides prompt replacement
If you are a person whose entire life depends on a phone, it is important to get it insured. Having it insured will assure prompt replacement in case any loss or damage happens to the phone.
Just like you never take chances with your health or four-wheeler, practice the same for your smartphones too. Although you might have to pay a monthly fee, this will eventually prove to be beneficial in the long run.