Mobile Insurance – Details

What is mobile phone insurance?

Mobile phone insurance is insurance that is insured on a mobile phone. This policy covers loss or damage to your phone. You can purchase mobile phone insurance on your mobile phone and cover any damage to your mobile phone. 

Mobile phone policy features

Mobile insurance plans have the following key features:

1. These apply to new and used phones
2. This policy applies to smartphones as well as regular phones
3. Many plans allow cashless repairs
4. The insurance amount is linked to the telephone bill
5. The insurance period is from 6 months to 12 months

What does mobile insurance cover?

A mobile phone insurance policy covers damage to the following types of mobile phones –

1. Lost phone due to robbery or theft
2. Accidental damage to any type of phone
3. Damage due to liquid leakage
4. Technical errors on the phone
5. Screen-related damage
6. damage caused by fire
7. Phone replacement or repair with covered damage

Premium under Mobile Insurance

Mobile insurance also offers additional insurance benefits that you can opt for by paying an additional premium. Some of the most commonly used supplements include:

• Cargo insurance that covers damage to the phone during transit
• Global cover for damage caused anywhere in the world

What is not covered by mobile insurance?

Although phone insurance covers almost all possible damages to a mobile phone, the following loss or damage scenarios will not be covered:

• Mysterious loss of any type of mobile phone
• Climate change is harming mobile phones
• Phone stolen when left unattended
• Loss if the phone is used by someone other than the owner
• Defects already in the phone
• If you try to damage your phone on purpose
• Any type of overclocked or experimental phones

Importance of mobile insurance

Mobile insurance policies are useful because of the insurance benefits they provide. Here are some of the reasons why mobile phone insurance is an important cover for your mobile phone –

1. Easily replace your lost phone

When your phone is stolen or lost (which is quite common), you face significant financial losses. If your phone is a high-end smartphone, the cost will be unimaginable. Insurance covers these losses and compensates financially. This allows you to buy another phone without worrying about your finances. 

2. Covering maintenance costs

Repairs can be very expensive if the phone is dropped and damaged or if liquid gets inside the phone. Costs can run into the tens of thousands, which can prove prohibitive. Since repairs are covered by mobile insurance, you don’t have to worry about financial stress due to damage. 

3. Beyond the warranty

Cell phone companies allow you to extend your warranty to cover damage to your phone. However, if your phone is lost or stolen, these warranties will be voided. This is where mobile insurance comes in handy. 

These benefits of mobile insurance make this policy important and very important in today’s era of increasing dependence on mobile devices.

File a claim under mobile insurance

If your phone is damaged, you can file a claim under your phone insurance. To file a claim, do the following:

1. Notify the insurance company of the loss immediately. The loss can be a damaged or stolen phone. To report a company, you can call the company’s claims helpline and register your claim. You will be given a claim reference number which you should retain for future claims processes
2. Complete and submit the claim form and enter the claim details
3. If your phone is stolen or lost, file an FIR at your local police station. An FIR has to be lodged against the claim of theft
4. You may need to click on a picture of the damaged phone and send it to the insurance company
5. The company will then investigate the damage caused and the cause of the damage
6. Your claim will be approved based on damage inspection and claim form
7. If your phone is being repaired, the insurance company can pay the repair costs directly to the mobile service center if the service center you choose is an authorized service center. If not, you will have to pay for the repairs and the insurance company will reimburse you
8. If your phone is stolen or lost, the insurance company will pay you the phone policy amount as compensation

Documents required for applying for mobile phone insurance benefits

In order to settle the mobile insurance claim, the following documents must be submitted to the insurance company –

1. Completed and signed complaint form
2. Copy of Police FIR if the phone is stolen or lost
3. telephone bill
4. binding policy

Downloading Process

Tutorial Video

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How to buy mobile phone insurance? 

You can buy mobile phone insurance online through the insurance company’s website. The process is quick and easy. All you have to do is choose an insurance company, fill the online application form and pay the premium online and the policy will be issued. Alternatively, you can apply for a policy at a mobile insurance company branch. 

To purchase a mobile insurance plan, the following documents must be submitted –

1. Application form to apply for insurance
2. telephone bill
3. phone’s IMEI number
4. proof of your identity

So protect your phone with mobile phone insurance and protect yourself from financial loss if your phone is damaged, lost or stolen. The premiums are very low and you can easily buy insurance without any hassle.