Smartphone has become an integral part of our lives. With technology advancing at a fast pace, newer and better versions of smartphones are being introduced in the market. It has become important to keep upgrading our smartphones to stay competitive. Considering the exorbitant cost of newer phones, any loss or damage to them can cost you dearly.
The warranty on your phone would cover mechanical damages. Alone and also would be for a duration of 1 year from the date of purchase. The warranty may be grossly inadequate to cover all the financial risks that you face such as loss or damage. To your smartphone due to theft, accidental drop, water spills, etc. When you’ve spent your hard-earned money on buying an expensive smartphone, it is also important to protect it with smartphone insurance.
There are many exclusive mobile protection plans available in the market. Most of the mobile insurance companies in India tie-up smartphone insured at the time of its purchase.
How to buy mobile insurance
It is important to ensure your phone within a reasonable time from the date of purchase. Smartphones that are older than 30 days by mobile insurance policies.
You must fill in the online application form and authenticate your purchase with the OTP. That you receive on your phone. Now, you need to submit the required documents and make your payment. Through your debit/credit card, mobile wallet or any other mode of payment.
However, it’s important to consider several factors before zeroing in on a certain policy:
Sum Insured and Premium
It is important to make a comparison between the mobile insurance policies offered by various insurers. Before you zero in on the best Smartphone insurance for you. Choose a policy that gives you high coverage for a reasonable premium.
Read the terms and conditions carefully to check that the policy covers all probable causes of damage/loss. Ideally, the mobile insurance policy should cover you against fire, theft, mechanical or electrical breakdown, and accidental damage. Any water or liquid damage should also fall within the purview of the policy.
Most mobile insurance providers deduct a certain percentage of the total claim amount as deductible at the time of claim settlement. The percentage of deductible will be mentioned in the certificate of insurance.
Certain mobile protection plans come with add-on facilities such as transit insurance. Certain companies offer the convenience of doorstep pick up and delivery of the mobile phone for repairs. Also, watch out if the policy offers emergency assistance for SIM blocking and also retrieval of new SIM in case of loss or theft of smartphones.
How to make a claim
The claim must be made within 24 hours of the occurrence of loss or damage. The duly filled claim form along with the relevant documents to support the claim need to be submitted to the insurer. In case of theft or burglary, it is mandatory to submit a copy of the FIR that you would have filed at the local police station.
The smartphone purchase invoice/bill must be produced while making a claim. Some insurance companies insist on a photograph of the damaged phone as proof of damage.
If you are planning to purchase a high-end smartphone, you need to consider purchasing a smartphone insurance plan as well to minimize your financial risks.
The mobile screen insurance policy can be purchased online and offers comprehensive protection from any financial loss due, arising due to damage or breakdown of your mobile phone’s screen.