Consider mobile phone insurance

However, before you got out and sign yourself up to an insurance contract, there are a couple of things to think about.

There are two options when obtaining new mobile phone insurance – you can get cover from your network or from an independent provider. If you take out insurance with your network generally, if anything goes wrong, a new phone can be supplied fairly quickly. However, independent insurers could offer a wider range of cover options.

Also, an insurance provider may provide ‘like for like’ in that if you lose your mobile phone it could be replaced with another second-hand model of the ‘equivalent specification’. Other providers could offer a new mobile phone as a replacement for your old one.

Most insurance policies cover: accidental damage or loss, theft, and airtime abuse. Most companies will place a ‘lock’ on calls after the phone is stolen. However, your airtime could be abused in the meantime, and this is where the insurance can be of use.

Mobile phone insurance can cost between 25GBP and 100GBP per year, depending on how much your phone is worth to you.