This article is aimed not only at those looking to insure their phone for the first time, but also at those considering re-evaluating their current coverage, to learn about the different options available.
Phone insurance is one of the most popular among insurance for individuals.
What is phone insurance?
Mobile insurance is a contract intended to cover the risks linked to the use and possession of a mobile phone.
It is aimed at any mobile owner wanting to protect themselves against unforeseen incidents such as
- the breakage,
- theft,
- loss,
- or oxidation due to accidental exposure to water.
You can take out telephone insurance directly from your telephone operator, from a specialized insurer, online or with Finwise Assurances to get the best offers on the market.
It is important to understand the guarantees included and the support conditions before subscribing, in order to choose the offer best suited to your needs and the use of your mobile device.
Why insure your cell phone?
With the constant increase in the price of smartphones and their importance in our daily lives, insuring your phone is becoming an increasingly common practice.
An accident quickly happened:
- a fall to the ground,
- involuntary contact with water,
- or even a theft.
Repairing this damage or replacing the phone can represent significant costs.
Taking out insurance therefore allows you to protect yourself against these financial risks, thus ensuring peace of mind. In addition, some contracts offer additional services such as the loan of a phone in the event of repair.
The guarantees offered by Finwise Assurances for mobile insurance
The breakdown guarantee
This warranty takes over from the expired manufacturer's warranty, covering internal breakdowns of the phone that are not due to inappropriate use of the device. This could include battery faults, software faults, or network issues internal to the phone.
The warranty breaks
Breakage is one of the most common losses. This warranty covers accidental damage to your phone, such as cracks or internal damage from a fall.
The screen breakage guarantee
Given the high cost of replacing a smartphone screen, this guarantee is particularly interesting. It specifically covers screen breakage, a frequent incident which can be costly to repair.
The oxidation guarantee
Oxidation occurs during accidental exposure to moisture or water. This warranty is essential if you tend to use your phone near water or in humid environments.
Theft guarantee
This guarantee protects you in the event of theft of your phone, provided that the theft is characterized (with assault or break-in). It is very important to check the terms of this warranty, as the situations covered can vary greatly.
The loss guarantee
Much less common because considered to be the result of negligence, the loss guarantee covers the replacement of your phone in the event of loss. The conditions of this guarantee are often strict, so it is essential to understand them before subscribing.
5 tips for choosing your mobile insurance
- Check your current guarantees: Before taking out specific mobile insurance, make sure that you are not already covered by another insurance, such as your home insurance or via your bank card.
- Define your needs : Identify the most likely risks for your phone (breakage, theft, oxidation) and choose insurance that specifically covers these risks.
- Compare offers : Use online comparators to examine the different market offers in terms of guarantees, deductibles and prices.
- Read the conditions carefully : Exclusions, deductibles, compensation ceilings and coverage conditions are crucial to understanding what your contract actually covers.
- Opt for insurance adapted to the use of your phone : If you travel often, for example, make sure that your mobile insurance offers international coverage.
Theft and mobile insurance
Insuring your mobile phone against theft is an increasingly common approach, given the value and importance of these devices in our daily lives.
However, it is crucial to understand what coverage your insurance offers in the event of theft. The majority of mobile insurance requires that the theft be characterized, that is to say carried out by break-in or with aggression. Situations such as theft or burglary (for example, if your phone is stolen while it was placed on a table on the terrace of a café) are not always covered.
Before subscribing, check the specific conditions related to theft in your contract. If your phone is stolen, you will usually need to provide a claim to your insurer and, depending on the terms of your contract, compensation or a replacement of the device will be offered.
Also note that some contracts cover fraudulent calls made from your stolen mobile, a significant advantage to take into account when choosing insurance.
The claims reporting process
In the event of a claim, you must be quick to report the incident to your insurer.
Generally, you have a period of 2 to 5 days after the event occurs to inform your insurance. To do this, you will need to gather all the evidence attesting to the loss (photos, telephone purchase invoices, filing a complaint in the event of theft) and contact your insurer, either by telephone or via its website or mobile application, if it exists.
Most insurers will ask for precise details on the circumstances of the loss as well as supporting documents. Once your declaration has been received and accepted, the insurer can proceed according to the terms of your contract: repair, replacement of the device, or compensation. Cooperation and rapid provision of requested information are key to speeding up the processing of your file.
Termination of your mobile insurance
You may wish to cancel your mobile insurance for various reasons:
- change of mobile,
- dissatisfaction with services,
- etc.
After the first year of commitment, which is often mandatory, the Hamon law allows you to terminate your contract at any time. Simply send a termination letter to your insurer, preferably by registered mail with acknowledgment of receipt to keep track of your approach.
Your letter must contain your personal information (surname, first name, address), details of your insurance contract (contract number, date of subscription) as well as an explicit request for termination. After receiving your request, the insurer has a legal period of one month to terminate the contract.
However, check the specific conditions of your contract because some insurance companies may offer more flexible termination terms.
How to find cheap mobile insurance?
Finding cheap mobile insurance while benefiting from adequate coverage requires a thoughtful approach. The easiest way is to contact us for market prices/coverage.
But here is a procedure that you can do yourself:
First, before subscribing, carefully assess your needs. Weigh the importance of each guarantee based on your daily use and the risks to which your mobile is most exposed. This will save you from paying for unnecessary coverage.
Second, don’t hesitate to compare offers on the market. Use online mobile insurance comparators, but also go beyond by exploring insurer sites to find exclusive offers or temporary reductions. Take the time to read the fine print, because the conditions, deductibles and exclusions greatly influence the apparent attractiveness of a contract.
Third, consider the option of increasing the deductible on your policy to reduce your insurance premiums. Of course, this means that you will have to pay more in the event of a disaster, but if you take care of your device and you consider the risk of disaster to be low, this option can be economically interesting in the long term.
Fourth, consider bundle offers or loyalty. Some operators, service providers and insurers offer preferential rates if you subscribe to several of their offers or products. If you are already a customer of an insurer for another type of coverage (auto, home, etc.), find out about possible loyalty benefits.
Don’t forget to review your contract annually. Your needs may change as may the offers available on the market. Insurance that was the most advantageous a year ago may no longer be so today.