Best Mobile Phone Insurance Policies In 2021

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Mobile Phone Insurance Policies

India witnessed a record high growth of 8% in smartphone shipment, in the third quarter of FY20. The number is expected to grow in the near future, thanks to booming e-commerce platforms and dirt-cheap mobile data.   Best Mobile Phone Insurance Policies In 2021

Making the most of this time, almost all top mobile manufacturing companies are coming up with new models to cater to this growing demand. The prices of these mobiles depend primarily on the specifications. While most mobile phones accompany top-line features, they are susceptible to damage and accidents, especially the screen. 

Not to mention, repairing costs of the same can be highly expensive. Thus, it is smart to opt for a mobile screen insurance policy from a reliable insurance aggregator when one has recently bought a smartphone. 

Before purchasing one, they should also know about the features of such insurance policies to make an informed decision. 

Features of the best mobile phone insurance plan

Mobile Phone Insurance Policies

Although a new mobile phone comes with a warranty period of up to 1 year, it does not cover all the damages that may occur. Moreover, if one wants to continue using the mobile phone even after one year, a warranty won’t suffice. Best Mobile Phone Insurance Policies In 2021

In that case, a policy for mobile insurance in India comes into play. The best ones offer a host of benefits. Some of these are discussed below.

Best Mobile Phone Insurance Policies In 2021

  1. Substantial coverage 

Irrespective of the model chosen, the mobile screen is one of the most delicate parts and, thus, prone to breakage. Repairing it can cost one substantially. Hence, individuals can opt for Mobile Screen Insurance under Pocket Insurance & Subscriptions offered by Bajaj Finserv that covers the cost of repairing or replacement of the insured mobile. 

Individuals can claim the amount in the following instances. 

  • If the phone gets damaged due to accidents, liquid damage, etc. 
  • When the phone malfunctions because of an electrical or mechanical breakdown

In any of these cases, individuals can get reimbursement of up to 100% of the invoice price of the handset by availing this particular mobile protection plan. Along with that, individuals can also opt for a mobile charger insurance, which covers the expenses that may arise due to damage to the charger. 

  1. Easy premium payment 

The best mobile screen insurance plan comes with minimal premium component against a substantial amount. The coverage also depends on the plan chosen and the insured mobile phone model. Most financial institutions allow individuals to pay the premium via online transactions.

  1. Hassle-free claim process 

One of the features of a robust mobile insurance online policy is prompt claim procedure. Since it is an essential device that individuals need to use almost round the clock, the claim procedure needs to be faster and straightforward. It will ensure that individuals can get the amount reimbursed immediately. 

All you have to do is fill up the claim form and attach necessary documents like copy of mobile invoice, etc. to complete the process.

  1. Additional facilities 

Some insurance policies for mobile phones also offer additional facilities like 1-year free subscription to OTT platforms and online fraud protection. The latter helps to cover any expense arising out of online scams. 

They can also consider taking a dedicated fraudulent charges cover that provides financial assistance, if one faces cybercrime and loses a considerable amount due to that.  

While a mobile screen insurance policy proves to be a life-saviour for smartphone users, they need to check what is not covered in the plan as well before buying one. Moreover, they can also read public reviews before choosing the financial service provider, especially about the average claim settlement time. 

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