Is it really worth insuring your mobile?
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Money matters
While insurance adds valuable protection to pricey gadgets, costs can be high. So is phone insurance worth it and can you protect your expensive device without breaking the bank? Here’s how to save cash while safeguarding your mobile.
VALUABLE PROTECTION
With many popular smartphones now costing around £1,000, making sure you protect it from accidental damage, loss or theft makes sense. Let’s face it – we all drop our phones now and then, which can lead to expensive repairs. They’re easy targets for thieves, too. However, while it’s a good idea to get cover, make sure you don’t pay more than you have to.
GET THE BEST DEAL
Most providers will only insure your phone if it’s less than three years old, with standalone cover costing around £50 a year. Some of the cheapest providers include Insure2Go (insurance2go.co.uk), Love It Cover It (loveitcoverit.com) or Protect Your Bubble (protectyourbubble.com). Look for the best options on comparison sites like Compare the Market (comparethemarket. com) and Uswitch (uswitch.com).
PACKAGED BANK ACCOUNTS
Rather than buying standalone cover, it’s worth investigating whether a packaged bank account would be a better option. These come with a number of benefits, such as phone and travel insurance, for a small monthly fee. Before you upgrade to a packaged bank account, make sure you’re going to use all the benefits to make it worthwhile.
Here are some packaged bank accounts worth a look.
NATIONWIDE: £13 a month
✱ Worldwide travel insurance for the family
✱ Mobile phone insurance for the family
✱ Free breakdown cover
✱ Fee free spending with your debit card abroad
VIRGIN M: £12.50 a month
✱ Worldwide travel cover for the family
✱ Mobile phone insurance for the family
✱ Free breakdown cover
✱ Fee free spending with your debit card when travelling abroad
LLOYDS BANK SILVER: £10 a month
✱ European family travel insurance
✱ AA breakdown cover
✱ Mobile phone insurance for one phone
ARE YOU PAYING TWICE?
Some home insurance policies will cover you
