Smartphones are amazing, but they are susceptible to damage from even the slightest drop or bump. There’s also the risk of theft, given the remarkable sell-on value of many high-end phones. Phone insurance can give you peace of mind from damage, loss and theft whether at home, work or even abroad. Here’s our guide to phone insurance.
Recommended phone insurance providers
Protect Your Bubble – Good for low excess costs
Gadget Cover – Good for family and household phone insurance
Endsleigh – Trusted, well-priced insurance provider
Debenhams – Add ons such as accessory insurance and worldwide cover
Insurance to Go – Low monthly costs
Phone insurance buying guide
Different kinds of phone insurance
The first thing to decide when it comes to phone insurance is the level of protection you want. A few factors affect the price of insurance, starting with the assumed market value of the device you are insuring. Most insurance providers will have specific plans for particularly popular devices like iPhones and Samsung Galaxy phones.
A lot of policies cover damage like liquid damage and theft but be wary that the cheapest packages (cheap being around £4 per month) will leave out theft entirely and you’ll only be covered for accidental damage. So be sure to check the fine print because sometimes a cheap price means you won’t be covered for everything.
You can also consider add-ons to a basic phone insurance package like worldwide cover. Nowadays with cool tech like Apple Pay and Android Pay, there’s also the risk that if stolen your phone could be used for contactless transaction. Debenhams is one phone insurance provider that offers E-Wallet cover in case this happens.
Price and risk
Some phone insurance deals can look like a great deal when advertising a monthly direct debit price. Often, these single digit monthly costs mean a plan will have a larger excess cost if you make a claim. An example is Protect Your Bubble, which offers an insurance plan for £6.99 per month, which could be considered pricey, but the excess charge for a claim of theft or damage is only £50.
Other cheaper plans for say £4 per month can have excess costs of £100 or more. You have to consider the balance you want to strike between peace of mind and then the likelihood of making a claim; if you think you will then make sure you’re happy with the excess costs before you sign up.
Consider multi-device policies
If you’re looking to insure more than one device (say you want to cover all of your family’s phones) then quite a few providers sell multi-device packages. Protect Your Bubble again is a good option, offering household gadget insurance for 4-10 devices from £12.99 per month.
Gadget Cover also provides simple, flexible household insurance policies that are worth considering.
You might already have insurance
If you aren’t worried about theft or accidental damage (although most people should be!) don’t forget that the majority of smartphone manufacturers cover device defaults for 12 months. iPhones certainly are (when bought new) so double check.
It’s also possible that your phone will be covered by your existing home insurance, or under an insurance policy that comes with your bank account, so make sure to double-check both of those before you commit to spending more money on a new policy.
Check the terms and conditions
While we think the providers and policies in this article are good choices for smartphone insurance, you should always check the terms and conditions and small print before taking out a policy – this is because it depends on your personal situation or preferences. For example, your phone might only be covered from car theft if the car is locked and phone in the glove box.
Some insurers also don’t protect smartphones unless they are six months old or newer. All these little things could add up to an insurance headache, so make sure you check the fine print.