Top 3 Insurance Plans For Mobiles And Gadgets
There is a new kind of protection in the market for your expensive gadgets. Mobile phone insurance or gadget insurance provides cover to your mobile devices against damages that the manufacturers do not include under the warranty they offer. Get your smartphone insured today.
Smartphones do not come cheap, yet people are unwilling to pay a few extra bucks to get cover for their gadgets. Most consumers are satisfied with the one-year warranty offered by manufacturers; the ones that come with the 'conditions apply' tag. What this means is that the warranty does not cover all types of damage; so if the screen shatters or there is liquid damage the company will not repair the item, free of cost. Paying for repair for a damaged smartphone can make a big dent in your wallet.
In the past, we did not have any other choice. Some manufacturers let you extend your warranties, but these do not often include liquid damage or theft. But lately, for those of us who tend to mishandle our electronic toys, there is a new kind of protection in the market: insurance for mobile phones and gadget. So, how about getting an insurance for your mobile device!
Overview of Mobile Insurance In India
Many start-ups are offering mobile insurance that would cover the latest expensive phone you have just ordered. You would have to pay a simple premium each year and keep your gadget protected from theft or accidental loss. Theft or loss aside, you also get additional benefits after the complete warranty on technical glitches expires in a year. When your phone begins to malfunction after two or three years, rather than spending out of pocket for expensive repairs, you can just use your mobile insurance.
You could opt for extended warranty offered by phone manufacturers as well as private operators, but this must be bought usually within three days of purchase. The Mobile Store or Nokia, among a few other companies, also offer theft covers or accidental breakage or loss.
If you want Mobile Insurance, which offers more comprehensive cover including additional fire damage or other damage to your phone, you will find that most such insurance is offered as group plans. This is because people tend to replace their old phones every few years, which means financial loss for these insurance companies.
Top 3 Mobile Insurance Plans In India
SYSKA's niche gadget insurance offers your gadgets complete cover against accidental or fluid damage, burglary, theft or fire damage. They also include antivirus solutions and pickup/drop-off to your chosen location. You can choose from 5 different plans, depending on how much your mobile cost. A budget phone that cost you between INR4000 and INR10,000 for instance, will make you eligible for a plan with an INR599/year plan. Before buying insurance, however, make sure to read the exclusions very carefully to avoid disappointments later.
GadgetCops is one of the earliest providers of extended warranties and protection for smartphones and other electronic gadgets. Their plans offer comprehensive covers and also include many value added services. They typically offer smartphone protection and extended warranties for two years, and promise repairs or replacements for all kinds of mechanical or electrical faults. You can also avail of cashless service, where the company will bear the cost of all repairs at the service center.
Delhi-based WarrantyAsia has tie-ups with many manufacturers and also offer mobile insurance. They offer insurance plans for a select range of tabs and smartphones popular in India, as well as for phones by manufacturers who provide 1 year warranty. The plans can be complicated, underwritten with many conditions. However they offer insurance for a wider price range, with premiums that start at INR349 for mobiles priced between INR1500 to INR5000 and so on. Note that the amount you can claim from insurance will be based on how long you have been using the device.
With growing trends of mobile insurance providers, it is wise to purchase a minimum extended cover on purchase, if not a comprehensive mobile insurance. Mobile insurance is especially recommended for high-end smartphones that could cost a lot to repair or replace in case of damage or loss.
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