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Mobile insurance: What it covers, how to file a claim and other details

Mobile insurance: What it covers, how to file a claim and other details

Mobile insurance: What it covers, how to file a claim and other details
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By Anshul  Jul 8, 2020 5:17:24 PM IST (Published)

Individuals can opt for a mobile insurance, which provides coverage for various kinds of damage to the mobile.

Nowadays, mobile phones have become an important part of life. People depend on it for various purposes, including communication, business and payments. In such a scenario, any loss or damage to the mobile can lead to huge problems.

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In order to overcome these risks, individuals can opt for a mobile insurance, which provides coverage for various kinds of damage to the mobile. The sole motive of purchasing insurance is to provide protection against the things which are not covered under manufacturer’s warranty.
Here’s What Mobile Insurance Covers:
A mobile insurance offers financial support in case of theft or accidental damage to the phone, according to Abhishek Tiwari, chief executive officer, iassure.
Water damage cover and high repair cost are also included under this.
"However, risks such as deliberate damage, unconvincing loss, climatic condition and pre-existing malfunctions are not covered in a mobile insurance," explains Tiwari.
Additionally, with a mobile insurance, an insurer pays for all expenses associated with repairs as well as replacement cost.
"This further cuts down the hassle of running for repair," explains Naval Goel, chief executive officer and founder of PolicyX.com.
Some insurance companies also offer ‘No Claim Bonus’ to policyholders at the time of policy renewal if no claims are reported during the previous policy term
Here's How Mobile Insurance Can Be Claimed
Various insurance companies follow different risk mitigates to ensure seamless claim services. Claims need to be intimated immediately as soon as loss occurs. For all theft/robbery cases, FIR is a must.
"In case of loss or damage to the mobile phone due to household fire, a report from the fire station is also required by some insurance companies. Some insurance companies may even require the photographs of the damaged mobile phones to be sent to the claims assessor," according to Paisabazaar.
To file claim, a person must submit the invoice/bill of the smartphone, along with its serial number.
"Insurers largely have a digital processing of claim and claims are paid as per their policies either directly to the insured or the repairer, in case it’s a tied up organised platform," explains Tiwari.
Nevertheless, the claim process may differ from one company to another.
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