Numerous insurance companies have popped up in recent years, promised to stop the unrest caused by the unexpected absence of these handy devices. These companies assure us that we w
ill not go more than a matter of hours, where a mobile phone is stolen, as they strive to quickly resolve claims and replace our valuable products. But is this insurance really cost effective? Is it to provide the service that consumers expect? Potential buyers need to take the time to find information about a policy before it is decided that such insurance is one solution to the issue of a mobile phone is lost or ill.
When reviewing mobile phone insurance, buyers should consider a few things:
Consider the cost of coverage.
This includes making monthly payments times the number of months, the owner expects to have the phone. For example, had a $ 5/month policy on a phone that is owned for 3 years, would total $ 180. This is $ 5 x 36 months = $ 180. Now is the prospective buyer must also factor in any deductible. For our example, say there is a $ 50 deductible. The new total of $ 230 represents what the buyer actually would have to pay if they actually had their phone replaced. Consumers need to compare the price of a new, similar cell phone compared to the cost of coverage. If they can get a new phone on their own for almost the same amount as the price of the policy, they are better off forgoing the insurance.
How have cell phones changed?
Is there a guarantee that your phone will be replaced with a model of equal or better value? A guarantee that your phone will be new rather than refurbished? Are there language ensure the time frame in which the phone will be replaced? These types of questions will help determine whether the service will meet the needs for immediacy in obtaining a replacement, and if the replacement will be worse, or equivalent to the original equipment.
What does the mobile phone insurance cover?
Does it apply to mobile phone theft, mobile phone loss and significant damage? It is important to know what situations and which is most likely. If the policy does not cover the situations that a particular buyer is most concerned with, so the policy is useless for them. Many policies will distinguish between the loss and theft, sometimes requiring a police report for theft.
Know what the cellular provider can do in these cases
Some wireless providers are willing to help replace a damaged or missing cell phone that a user has had in more than a year. In some cases a replacement will be given or discount, which minimizes the need for extra protection of mobile phone insurance.
Like any insurance, mobile phone insurance could provide significant assistance in quickly to replace a vital entity that an owner can not afford to replace, in certain circumstances. But in many cases it is just an extra cost. Consumers should carefully review the policy to determine whether it provides the kind of protection they need for their phones.
