Just got an iPhone 5. Just assumed I'd get it on the home contents insurance. Is this wise or should I be looking at specific phone insurance?
ring your insurer and tell them it's value, because it's likely that you won't be covered for the full value of it as standard and it might even just come under computing or digital goods meaning you wouldn't get enough for it. Just like upgrading your policy with an expensive new bike. It might not cost you much.
I'm with m and s who say that you don't need to list anything with a value under £4k.
The former, assuming it's covered.
Look at your bank account, lots of banks offer phone insurance with your account.
Mine is a £10 fee each month but that insures 2 iPhones, gives AA roadside and travel insurance amongst other more useless 'benefits'.
Sometimes mobiles are not covered due to getting them "free" with your contract. Check with your policy holder for any exclusions!
Sometimes mobiles are not covered due to getting them "free" with your contract. Check with your policy holder for any exclusions!
Further evidence that insurance is just a bloody scam
How did you buy it OP?
If it was on a contract I'm surprised you weren't offered it by the network or store when purchasing. If you didn't take it out at the time you won't be able to do it retrospectively.
Many bank accounts will protect against theft as opposed to loss (check the small print) but you will need to register the IMEI number (look at the box your iPhone came in) as you will not be covered automatically.
There are some advantages to getting cover from your network or mobile phone store (for those of you considering a new phone) as you will most likely get tech support and repairs cover as well as theft/ loss. Having said that if you buy a handset SIM free (without contract) many networks won't cover for loss (theft still covered).
It's worth considering that the cheapest high st iPhone 5 contract will cost around £900-£950) over the life of the contract so that's the real cost of a 'free' phone to you.
How did you buy it OP?
If it was on a contract I'm surprised you weren't offered it by the network or store when purchasing. If you didn't take it out at the time you won't be able to do it retrospectively.
Many bank accounts will protect against theft as opposed to loss (check the small print) but you will need to register the IMEI number (look at the box your iPhone came in) as you will not be covered automatically.
There are some advantages to getting cover from your network or mobile phone store (for those of you considering a new phone) as you will most likely get tech support and repairs cover as well as theft/ loss. Having said that if you buy a handset SIM free (without contract) many networks won't cover for loss (theft still covered).
It's worth considering that the cheapest high st iPhone 5 contract will cost around £900-£950) over the life of the contract so that's the real cost of a 'free' phone to you.
IMO its a waste of money, but then in +20 years of having mobiles I've never lost, had one stolen or broken one. And never paid for insurance. Also need to check if you do get it that it covers away-from-home and general carelessness (on your part), otherwise they'll never pay out.
The insurance company's definition of theft can often be a bit specific
My daughter had her phone pick-pocketed out of her handbag in a pub
Reported it to the police, got a ref number etc. They even had it on the pub CCTV.
The insurance company have refused to pay out as no force or threat of violence was used.
Mine got nicked at a race, phoned M&S (home insurer), they spoke to O2 who confirmed I'd reported it lost, weren't fussed about the police. They said they didn't have a contract in place to supply iPhones and so they'd pay me to go and buy a replacement, £500 in my account on Tuesday, 36 hours after losing it.
I'd be surprised if phones weren't covered up to a value to be able to do the same. The fact you pay £900 or so is irrelevant, you can get a replacement handset for less.
Ive always taken it out with orange. The robbing buggers take £12 p/m to cover my iPhone 4. Thursday night I dropped it in water, I arranged a replacement with them and had to pay £50 excess! Overnight it dried out on the radiator so I rang to cancel the replacement, but because I had agreed delivery they could not cancel it and I still have to pay the £50.
The new phone was delivered to my door in 18 hours, so it's a good service if you need it, but you certainly pay well for it.
Cost of the contract is relevant on a high end phone like an iPhone. Assuming brought from a network store on a 'unlimited' tariff cost will be more like £1100 over two years.
Many people can't or won't pay any upfront cost for the phone so if the phone was lost, stolen, damaged, broken (take your pick) its unlikely that the individual will have £450 plus to shell out for a like for like replacement. Particularly early in the contract. That's were insurance comes in.
Anyone who can afford to buy an iPhone outright should do just that as there are much better SIM only deals out there although at this stage you can't get a SIM only 4G EE deal. Caveat in relation to the OP is that (as per my earlier post) network stores tend not to cover SIM free handsets for loss (theft still applies).
For everyone that has never had a phone lost of stolen there's someone who has. As with most things in life and on here its a question of choice and from a STW POV opinion.
Cost of the contract is relevant on a high end phone like an iPhone. Assuming brought from a network store on a 'unlimited' tariff cost will be more like £1100 over two years.
Not when a handset is available separately. An iPhone handset only is c£600. That's what you're insuring. The cost of the contract includes usage, but that doesn't get stolen. The material cost of the handset is covered on the insurance.
Ive always taken it out with orange. The robbing buggers take £12 p/m to cover my iPhone 4.
So despite realising they're robbing you blind you carried on with it?! 🙄
because I had agreed delivery they could not cancel it and I still have to pay the £50.
Should've refused delivery and argued the toss with them. I'd have cancelled the contract for that.