Read your mobile phone insurance policy very carefully. They normally cover loss and theft as two separate incidences as the one would normally have to be reported to the police before the claim has been settled. This goes not only for mobile phones but also for other gadgets such as Ipads and laptops. Note that if you suspect that you have lost or had your phone stolen that you have to report it immediately.
This is because you may be liable for the calls that had been made on the phone which even though covered by unauthorized usage it is not covered until the time you report the phone stolen. The average liability in the UK is currently standing at about £65 per incident.
Note that this is the average and there is as yet no cap. We have listed a table below for the insurance averages for theft and loss insurance below. The following companies cover theft: Insurance2go
This company offer a number of plans and the monthly cost ranges from £3.99 to £6.99 and there are a number of options between these fees. There is also excess and the maximum value of the phone being insured. Note that loss and theft are separated on their options. As an example £3.99 does not cover loss or theft while £4.99 covers theft but not loss and £5.99 cover both loss and theft. Things such as overseas coverage and accessories coverage cost extra.
They offer two options and are very straight forward. Both policies they offer come at £6.99 per month and cover both theft and loss. Note that they do have an excess of £100 for each incident. They offer Smartphone and Iphone options. You can see their website for more details for any other phone or gadgets which you wish to insure.
They have many options and range from £1.96 to £13.33 but this will depend on your phone type and also the amount of cover you are seeking. Their standard excess is much lower as well. These range from £50 to £75 per incident. Cheaper gadget also offers coverage for other gadgets such as laptops, ipads and the like.
This company offers a few packages which range from £1.45 to £2.75 per month. Their claims excess is also very low as it ranges from £25 to £50 per incident. They do however sell addon’s which you might add to your package. Note that to insure you phone against theft and not loss is the cheapest option available.
Budget Mobile Cover
One of the few companies which only offer mobile phone insurance. If you are looking at taking insurance on other gadgets you have then you might have to look elsewhere. The monthly payments for this insurance company is £1.49 to £5.99 with a standard excess of £50 per incident. Note that the £1.49 does not cover loss but only theft.
Always check the policy you are taking to see if it covers theft and loss and loss normally costs more money. Loss is not reported to the police where theft is. Loss is a much higher risk and theft in the mobile phone insurance industry. Thousands of phones are reported loss each year in the UK.