*This is a collaborative guest post
Cell phones are an expensive piece of equipment and you can get these from a few hundred dollars but also up to a grand. There is a staggering 94% of the US adult population now having ownership of a cell phone and this figure has been increasing every year over the past decade. Nowadays, a cell phone is core to a lot of people’s lives and if this was taken away from them it could be dramatic.
Reliability on the phones in order to socialise and communicate is key but also these have advanced to the stage where they can be used to work, use emails, navigate and even learn languages. People who use them for work could have devastating effects if these were not in a useable condition and this could affect customers or your customer services. As these are so relied upon, it is important for owners to consider whether they should insure these. Here are some of the benefits of this below.
Mobile Phone Insurance
There is a misconception by people that if they have mobile phone insurance then everything is covered from damage to theft. This is not always true. Each individual policy will have different levels of cover but the difference between mobile phone insurance and renters insurance that include phone theft is one that sticks out. Mobile phone insurance is generally not cheap. It is usually calculated on the level of insurance needed if you have had previous claims and the level of the deductible that applies. The payments would then normally be agreed monthly. If you do end up having accidental damage, you are normally able to choose how to return the phone (and get a temporary replacement one in the meantime). This can be done via post or could be by going into one of the stores they may have on the high street.
A much more effective way to insure your cell phone may be through your own renters or home insurance. This is the policy that you take out for your home contents and covers items such as bikes, sofas and laptops. As a result, the cover is a lot wider than just a cell phone. Renters insurance does also normally cover theft where most mobile phone insurance policies don’t which is a major benefit. Although there could be a change in your monthly premium if there is a lot of claims in a short period, effectively you have the authority to claim as often as required. This is not the same for most mobile phone insurance policies that would generally limit you to claiming only a few times a year.
In terms of making a claim, things are a lot different from how this was managed a few years ago. If you are looking to get the whole renters insurance which will cover the theft and accidental damage element of your cell phone then you can normally download the company app and show them pictures of your home via the camera and this then supports a more accurate policy value and should help claims go through a lot quicker.
For a few bucks a month you could choose to add cell phone loss and damage to your renters insurance and this could save you not only hundreds of dollars in hardware but allow you to put your mind at rest when you have a replacement sent to you promptly.