Choosing mobile phone insurance is no easy task; with so many companies competing for your attention – and money – it can be hard to know what a good offer actually looks like. Whether it’s a bank, a mobile phone network, or a third-party insurer like us, you just want to cut through the noise and find the best deal for your mobile, and an insurer that won’t let you down.
That’s why we’ve put together this helpful guide to show you how we compare to our closest competitors – namely, HSBC mobile phone insurance – so you can make an informed decision when it comes to insuring your next, or current, mobile device.
Home and contents insurance is a great way of blanketing all your belongings in protection, including your mobile phone. By taking out contents insurance you can ensure that, should the worst happen, and your phone is lost, stolen, or damaged, you will be able to replace it. Of course, the obvious downside to home and contents insurance, regardless of the insurer, is that it only applies if your device is damaged/ stolen inside your home. Considering that most accidents occur outside of the house, it’s a big risk to protect yourself solely with home insurance.
HSBC offer a comprehensive home and contents insurance package. Included in their basic cover is between £10,000 and £20,000 on valuables, or a single item limit of £1,000, which might not be enough if you own one of the latest iPhone or Samsung devices. Furthermore, you can add personal belongings to your policy, which covers your valuables all over the world – although this will cost extra.
Unfortunately, as with other banks, in order to receive mobile phone insurance from HSBC, you’ll need to take out a full home insurance policy, rather than simply insuring your device as you would with MPID. Equally, if you do experience damage or theft to your mobile and you decide to make a claim on your home and contents insurance, your premiums will seriously suffer, which could prevent you from taking out other policies or put you out of pocket when you come to renew.
By choosing to go with a trusted third-party insurer like Mobile Phone Insurance Direct, you can save money by avoiding extras on your home insurance policy and avoid hikes on your premiums should you need to claim. If you took out a policy with us on an iPhone 13, for example, you would only be paying £6.49 per month to protect that device, plus up to £150 on accessories. On top of that, you won’t need to pay extra for worldwide protection, as it comes as standard on all our insurance policies.
While home insurance may seem like a convenient option for households with a lot of devices, it can’t match the protection of a targeted mobile phone insurance policy.
Insuring your mobile through your bank account has a number of benefits; you can often get a good deal, a joint account can cover multiple people for less, and you receive some extras outside of the insurance itself. However, while it can be an attractive offer, there are a number of disadvantages.
As with other banks, if you want mobile phone insurance from HSBC, you’ll have to be an existing member of the bank. Furthermore, to benefit from phone insurance you’ll need to upgrade your account status to HSBC Insurance Aspect, which will set you back £11.95 a month if you’re under the age of 70. So, if you wanted HSBC mobile phone insurance on a brand new iPhone 13, you’d have to £11.95 a month to cover it. Alternatively, insuring the same phone with MPID would cost £6.49. If you don’t care about the other features of an Insurance Aspect account and simply want phone insurance, it’s clearly not the best deal around.
Furthermore, HSBC offer protection up to the value of £2,500 on your device, with a compulsory excess of £75. With our plans, you’ll receive a replacement as soon as possible if your phone is lost or stolen, taking the hassle out of finding a new handset. If it’s damaged, we’ll repair it in-house and get it back to you when it’s as good as new.
Finally, HSBC mobile phone insurance will only cover your device, battery, and charger. With a policies from Mobile phone insurance direct, you’ll be entitled to £150 accessories cover, including the charger, cases, and much more.
With MPID you can stay protected a included as standard on all our plans, you can have peace of mind when you take your mobile device abroad. Additionally, with our Plus and Premium covers, you can make unlimited claims for the duration of the policy. So if you’re accident prone, you don’t have to worry too much.
Whether you’re looking to insure the latest model or a much-loved classic, you can get a variety of cover options, with prices tailored to suit you.
United Kingdom/English'/%3E%3Cuse xlink:href='%23b'/%3E%3Cuse xlink:href='%23c'/%3E%3C/svg%3E)
Ireland/English
