If you’ve ever signed up for a personal phone system, you may have noticed that mobile coverage is an available checkbox. The concept of insuring your valuable cell device isn’t as crazy as it was, as phones become more costly, smart, and important.
We’ll learn what cell phone coverage is, what it protects and doesn’t, and if it’s worth buying in this post.
What is cell phone insurance, and how does it work?
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We can’t imagine leaving the house or even going to the bathroom without our smartphones. For worse or better, our cellphones are increasingly vulnerable to accidents, real harm, robbery, and technological malfunctions due to their increased usage.
Considering iPhones and other pocket smart devices cost a small fortune, cellphone insurance provides customers with a sense of safety.
According to a report conducted by ResearchandMarkets.com, the worldwide cell phone insurance industry would be worth 27.2 million dollars (S$36 bn) around 2022.
While mobile security is appealing in theory, the products that have emerged in the industry leave much to be desired.
If your cell is stolen, destroyed, or broken, cell phone protection, like every type of insurance, would normally pay you. Mobile phone coverage is divided into two categories:
- Those offered by mobile telephone insurance companies.
- those provided by local telecommunications companies.
Here’s a preliminary pricing list centered on an Apple new iPhone, but keep in mind that prices will vary according to the sort of phone you have and its year.
Different Insurance companies offer cell phone insurance.
Citibank Living Guard is a service provided by Citibank.
Citibank’s Living Guard protects your goods worldwide, whether domestically and overseas, 24 hours a day, seven days a week. Mobile phones, laptops, cameras, and even eyewear are protected products. The insurance costs are priced at $199 per year and $17.20 per month, including GST.
DBS Mobile Protection.
DBS’ Mobile Protection coverage includes cash withdrawals from digital payments like PayLah! and loss, unintentional damage, and fraud. There seems to be a $75 repair cost and a $150 handset replacement cost. It’s worth noting that Mobile Protection currently protects up to three phone breakage events each year.
PhoneProtect360 is a service provided by HL Assurance.
PhoneProtect360 provides HL Assurance-backed phone insurance protection on your Singapore-registered smartphone. It pays up to $1,000 in replacement expenses for unintentional accidents, especially fluid loss. You could switch to a new device when your device is so far beyond repair. Throughout your trips, you may also benefit from global protection.
However, it offers a considerably broader range of fixes than telecoms. Telcos often only fix water damage and shattered screens, while HL Assurance includes issues such as a broken home button, microphones, camera, and recharging ports.
Operator-provided mobile phone coverage.
To ensure validity, telco-issued mobile telephone insurance is fairly minimal. It normally covers broken screens, flood damage, and other minor issues. However, not robbery or loss. You may have seen an option asking whether you’d want to cover your cellphone when you joined up for the new phone system or re-contracted a current policy.
FoneCare+ by M1.
The M1 FoneCare+ basic program costs $9.90 per month and includes an advanced smartphone update, door-to-door gadget switch, or remanufacture within four hours.
SmartSupport is a service provided by StarHub.
The SmartSupport package from StarHub begins at $12 per month and includes device repair or swapping inside 4 hours across the island. You can repeat this twice in 12 months.
PhoneProtect by Circles.Life
The PhoneProtect cellular insurance package from the virtual telecom begins at seven dollars per month and includes broken screens, moisture, and past repair damage. You may register again for insurance using Circle Life’s phone device, insured by HL Assurance.
Singtel MobileSwop Limitless is a service provided by Singtel.
At $9.90 each month (including GST), Singtel’s MobileSwop Ultimate plan gives you complete exchanges and one device repair each rolling twelve months.