Now that smartphones have become an essential tool for our daily lives, it makes sense to get mobile insurance. Years ago, insuring an electronic device could be considered silly, but today smartphones not only cost a lot, but also store very important information about us.
Therefore, it is not reasonable to think of taking mobile insurance. But the question is… is it really worth it? Next, I will tell you about my experience with mobile insurance, you can judge for yourself whether this type of insurance is really a good investment by examining the benefits and advantages it offers.
What is mobile insurance? That’s how it works.
Mobile insurance works like any other insurance. It’s a service provided by an operator or insurance company that protects you if your phone is stolen, damaged or lost. Obviously, each insurance offers different coverages: some cover damage only, others only theft, and others cover both.
In exchange for a monthly or annual premium, the insurance company will pay you a certain amount to replace or repair your phone, depending on the coverage you choose. However, there are also companies that are tasked with repairing our mobile phones with original technicians and original components.
What coverage and benefits does mobile insurance provide?
Mobile insurance typically provides coverage for the following events:
Theft: If your smartphone is stolen, the insurer will pay you the price or give you a new one. As long as it is an accidental damage, the insurance company will pay for the repair or give you a new one.Loss: The insurance company may reimburse you for your cell phone or provide you with a new one if you lose it.
Also, some companies may collect your cell phone and ship it back to you, even if it’s stolen, with a new SIM. This is very convenient as you never have to go to technical service. You can have the comfort of home, let the company take care of everything, and receive the phone when it’s ready.
The benefits of having mobile insurance are clear, but we must consider that this service is worth considering. The cheapest you can get is 1 euro per month, but this price varies depending on the price of the mobile phone, how old it is and the type chosen.
You shouldn’t ignore the price…
Therefore, the insurance price can increase up to 20 euros per month. This means that the annual cost of insuring your mobile phone can be as high as €240. But fear not, this is only if you want to take out all possible coverage for the latest high-end mobile phone like the Galaxy S24 Ultra.
For example, if you want to insure the Redmi Note 13 Pro 5G against theft and damage, the cost is about 7 euros per month or 84 euros per year, which we can consider as the average price of a mobile phone.
If we do the math, you’ll pay 15-25% of the phone’s value for every year you’re insured. Is it worth it? Generally yes, but there are aspects to consider.
When is it worth paying for mobile insurance?
Before taking mobile insurance, it is important to consider the original warranty of the device, which covers two years in the EU and problems not caused by misuse. Additionally, it is important to read the fine print of the policies to understand the coverage, limitations and additional costs.
That is, if you have a high-priced smartphone or use it in dangerous situations, it is 100% worth taking out insurance. Likewise, if you are one of those people who tend to damage mobile phones due to abuse (for example, children and the elderly) or if your job depends on keeping your mobile in good condition (for example, a content creator), mobile insurance is the best option for you.
However, if you are very careful with your cell phone and it is not an essential tool for your work or daily life, it may not be that useful. Of course, don’t forget to consider the price of your mobile phone. High-end smartphones should be insured in any case, because repairing them is usually very expensive, just like buying a new one in terms of performance.
The main thing is to evaluate the cost-benefit and personal needs before making a decision. Tell us… how was your mobile insurance experience?
