September 3, 2012

Mobile phone insurers urged to take on home insurance

Many consumers still view mobile phone insurance as superfluous if they have home content insurance. However, industry group Defaqto is encouraging the market to highlight the benefits in taking out both.

According to research conducted by the independent company, around 25 per cent of all mobile phone owners now insure their devices, compared to just three per cent of owners back in 2006.

However, it isn't entirely accurate to state that the remaining 75 per cent do not insure their phones as many will see the handsets covered under home contents insurance.

Unfortunately, the cover on offer through this route is often not as thorough. For example, home contents insurance will not usually cover electrical and mechanical breakdown or unauthorised calls and is also unlikely to provide a data back-up service. At the moment, not all mobile phone insurance policies cover these areas, leaving some room for the sector to evolve.

Mike Powell, Defaqto's insight analyst for general insurance, commented: “While some of the main perils such as accidental damage, loss and theft are covered under home contents policies as standard, it is the cover provided against electrical and mechanical breakdown, unauthorised calls and services such as data back-up and technology support where real differences start to appear.

“Any customer who is considering purchasing a mobile phone and wants to protect their device should look at mobile phone insurance as the benefits and cover features are wider ranging.”

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Filed Under: Telecoms News

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