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Very few users go for mobile phone insurance. And the reasons for not taking phone insurance seriously enough is the fact that most user do not realise the finanical risk they run in not opting for one or the other kind of protection in case they lose their handset, or some or the other damage occurs to it. Or worse, gets stolen despite your best efforts at safeguarding it. The financial risks involved are – your phone handset is more than likely to be misused by the person who has come upon it. A nd you will be required to foot the bill even though you have not actually used it and the handset is no more with you. Secondly, those users who are using contract mobile phones handsets are liable to pay the remaining monthly instalments irrespective of when exactly the contradt phone device got stolen, misplaced or was damaged or nicked. This situation can cause great financial burden on the users. There are now good number of insurance companies who replace your handset on the prompt and timely payment of their premium These insurance companies do not at all follow the standard insurance norms such as the ones adopted by life insurance and non-life insurance companies. Instead these insurance providers for mobile phones charge a flat sum as premium yearly and this is charged irrespective of the actual condition of your handset when it got damaged or lost. Here it may be mentioned, that it is necessary for the user to file a Police report in cases where the mobile phone device was stolen. The mobile phone insurance would need a copy of the report thus filed for their official purposes. Most mobile phone insurance companies require you to pay an annual premium between £ 70 to £ 100. And in most cases, the users who have lost their handsets or got them nicked, etc, receive a new replacement phone device withing 48 hours of the incident. Read more about Mobile phone insurance and Best phone deals
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