Purchasing a branded mobile phone is not enough we are living in an era where cyber-attacks are common. The purpose of buying insurance is to protect the thing that you buy by paying extra insurance coverage in the form of premium every month. The insurance company will pay all the expenses related to the cost of replacement and protect against any theft or damages.
The idea of mobile insurance is new and not aware so that many mobile phone owners are not ready to purchase it. Nowadays mobile phones are a mandatory gadget at the same time it is being a costly investment so having your mobile phone insured is also necessary. Most of the cell phones have a 1-year warranty which usually covers hardware malfunctions and manufacturing defects but it does not cover the accidental damage. Mobile insurance protects a variety of damages hazards to the phone. Experts recommend that electronic gadgets and devices are highly vulnerable to software failures due to accidents, drop, water spoilage, screen damage or crack, and other reasons for internal or external damage. With mobile insurance coverage, the company will pay for all the expenses related to the cost of replacement, maintenance, etc. Various companies provide mobile insurance including Acko mobile insurance, Digital insurance, Syska insurance, Airtel secure insurance, Flip kart mobile insurance, etc.
Following are the risk and damages cover under mobile insurance:
1. Damages to the internal part of the phone due to water spillage.
2. Damages to the external components of the insured phone.
3. Loss due to house break-in, theft, and burglary of the insured phone.
4. Damages to the insured phones due to fire, riot, terrorist attack.
5. Loss of insured phone from a secured vehicle or securely locked vehicle.
6. Screen cracks damages.
7. Damages due to hardware failure.
Exceptions under mobile insurance policies.
- Damages due to routine wear and tear of the insured phone.
- The phone was stolen in an unsecured vehicle or building.
- The insured phone has an electronic or mechanical breakdown.
- Damage to the insured phone due to malicious activity done by the policyholder.
