Mobile Insurance provides complete protection to the mobile phone. Usage of smartphones is growing like anything. Smartphone has become an essential part of our life. We cannot imagine our life without a smartphone. We use smartphones for communication, business, entertainment, shopping, social networking and a lot of other activities. Apart from usage, the cost of smartphones is also skyrocketing. To protect your smartphone from theft or damage you can purchase a mobile insurance policy.
I recently purchased a smartphone online. While making a payment I have come across the offer of mobile phone insurance. It was a lucrative offer and I was wondering to opt for mobile insurance or not. To clear my confusion, I decided to do dig down to know about mobile phone insurance & its benefits. If you are also in a dilemma whether to buy mobile phone insurance or not you are at the right place. In this post, I will share complete information about mobile phone insurance including detail of Best Mobile Insurance Company in India 2020.
What is Mobile Insurance?
Mobile Insurance is a special type of insurance designed for mobile phone protection. It covers various risk associated with a mobile phone such as theft of loss against damage. Mobile phone insurance is offered by IRDA approved insurance companies. The coverage offered varies from company to company. As the cost of mobile phone is growing it is a good idea to buy mobile phone insurance and save money.
What is covered in Mobile Insurance?
Physical Damage – It covers accidental physical damage to mobile phone, like screen damage, liquid damage, technical malfunction etc.
Theft – Coverage against loss of phone due to snatching, house breaking or any other incident of theft or robbery.
Fire & Liquid damage – You will also get insurance cover for the loss against fire damage & liquid damage water, tea etc.
Repair or Replacement – This insurance will provide free repair service. If repair is not possible you will get free replacement of mobile phone.
Battery & Accessories cover – Few insurance companies also provide coverage to faulty battery and accessories such as ear phone jack and charger related issues.
Following are not covered under mobile phone insurance –
Software issue – You will not any benefit for software issue, virus, data loss or data corruption.
Defects – Any manufacturing defects or malfunction due to manufacturing defect are not covered.
Self-Damage – Self-damage or any deliberate attempt to damage phone is not covered.
Who should buy Mobile Phone Insurance?
You should buy mobile phone insurance if –
- You have a history of lost stolen or broken phones.
- You have expensive smartphone.
- You cannot afford to replace your mobile phone.
- You don’t want to compromise on low cost model in case of loss/damage of phone.
- You can’t afford to lose time required for repair.
Best Mobile Insurance Company in India 2020
Syska Gadget Secure
Syska is one of the best mobile insurance company in India. Syska offer Syska Gadget Secure plan for mobile phone insurance. Syska Gadget secure need to be purchased within 15 days from the device purchase date as mentioned in the invoice. The owner of the phone should be of age 18 years and above. Key features of this policy are given below.
- Complete protection against accidental damage, water damage, theft and fire damage.
- Free antivirus software for real time virus protection.
- Hassle free claim resolution.
- Insurance cover is limited to new purchase only.
- Track and block your stolen phone.
- Complimentary games, movie and music on the go.
Annual Premium – Rs.1199 to Rs.2199
Times Global is India’s largest and best mobile insurance and laptop insurance company. Buying smarphone insurance via Times Global is very easy. You just need to click photo and send it to online platform. You will get instant policy activation. Times Global provide insurance for new as well as old mobile devices. Key features of Smartphone Insurance plan are given below.
- Cashless protection against accidental damages.
- Theft or stolen coverage anywhere in India.
- 50% and 25% refund of 2nd and 3 year premium amount in case of No claim in 3 year and 2 year plan.
- Coverage in India, USA, UK, Europe and Australia.
- Free extended warranty with smartphone protection plan.
- Fast repair option.
Annual Premium – Rs.2460 to Rs.6720
One Assist is next in the list of Best Mobile Insurance company in India. One Assist provides insurance for mobile phone, laptops, tablets, wallets and home appliances. One Assist also provides mobile app for mobile health checking as well as managing your insurance. Key features of One Assist Mobile Iy nsurance are given below.
- Device accidental and liquid damage protection cover.
- Device pickup and drop services.
- Cashless repair service.
- Temporary courtesy handset.
- Repairs at authorized center only.
- Coverage offered up to 6 months old mobile phones.
Monthly Premium – Rs.67 per month
Onsite Go is one of the best device protection company in India. Onsite Go provides insurance for mobile phone, laptops, tablets and other home appliances. Onsite Go provides coverage for new as well as old mobiles. Key features of Mobile Insurance by Onsite Go are given below.
- Repair or Replacement Guarantee.
- Physical Damage cover.
- Free pickup and drop services.
- Covers Malfunctions & Breakdowns.
- Extended manufacturer warranty.
Annual Premium – Rs.1231 to Rs.7250
Alternatives to Mobile Phone Insurance
You can use following alternatives in case you don’t want to purchase mobile phone insurance.
You can buy extended warranty as alternative to mobile insurance. It is provided by the manufacturer of the phone. In extended warranty manufacturing defects and hardware malfunction are covered. However, you will not get complete protection of your phone.
Another alterative of mobile phone insurance is self-insurance. In self-insurance you need to save money which you are likely to spend on mobile phone towards repair or replacement.
Have you purchased Mobile Phone Insurance Plan? Do share your experience in the comment section given below.