Mobile Phone Insurance

Mobile phone insurance is a kind of insurance policy which is bought for a new cell phone.  In the majority of cases, individuals purchase these phone insurance policies when they acquire costly smart phones, despite the fact that they might be available for any kind of mobile phone by way of the issuing insurance company.  Comparable to other categories of insurance policies; more often than not, mobile phone insurance carry restrictions including a specific amount of time during which the insurance policy is active, a deductible, limitations on the kinds of claims which can be made and restrictions on the retail value of the replacement costs.  When buying a costly mobile phone, a number of individuals believe that adding insurance provides additional peace of mind.

Usually, mobile phone insurance might be bought with a onetime payment.  More often than not, these kinds of phone insurance policies do not require regular premium payments in view of the fact that the cost to buy one or two years of insurance coverage, which is typically the maximum duration of time that is available, is rather low.  This is since a small number of individuals opt for keeping their mobile phones for in excess of two years without getting an upgrade and it makes a lot of sense to just include the insurance cost in with the cost of the new contract with a mobile phone provider or the purchase of a mobile phone.  All the details in relation to the insurance policy can be thrashed out where the phone is purchased.

Some categories of mobile phone insurance typically have a low deductible which needs to be met prior to any money being paid out in order to repair the phone.  For example, this will perhaps apply in cases in which the screen is cracked and it does not require the phone to be entirely replaced.  In addition, limitations will possibly exist on the amount of claims which could be made for the duration of the insurance policy.  These claims possibly will cover all kinds of accidents, such as spilling liquid on the phone or dropping it, for which the warranty from the manufacturer will not provide coverage.  Additionally, the mobile phone insurance could provide coverage for the device if it needs repairs subsequent to the expiration of the warranty.

If the cell phone cannot be fixed, the mobile phone insurance policy will cover the replacement of the device.  This may be the equivalent retail price of the mobile phone if the same model of the device is not available any longer.