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Be Smart, Insure Your Smartphone 

Shane Warne insured his nails. The phone you’re reading this on is just as important. Here’s how you can insure it.

Published
Tech News
2 min read
(Photo: iStock)

From your flight bookings to your alarm, from your exercise regime to your restaurant reservations - we are depending on our smartphones more than ever.

Given our reliance on these devices, doesn’t it make sense to protect them? A step in that direction would be to insure your phone against, well, The Murphy’s Law. Here’s what can be done.

Just Extend The Warranty

Most manufacturers provide a year’s warranty. A good option is to opt for the extended warranty and add an extra layer of protection because, more often than not, mobile phones tend to develop issues only after the expiry of their warranty. Since, mobile phone repairs cost a bomb, isn’t it better to pay a nominal amount and secure our phones.

Theft Covers

There are phone covers and then there are Theft covers. An unofficial estimate states that over 20 lakh mobile phones are reportedly stolen every month across India. In the event that you end up being one among those 20 lakh, you’ll have something to fall back on. Literally! General insurance companies offer old school insurance plans to help safeguard against the theft of your phone.

The theft covers can also be tailored to include loss and accidental breakage. Nokia and ‘The Mobile Store’ offer theft insurance plans for their clients. And so do service providers like BSNL and Reliance.

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What Does Smartphone Insurance Cover?

Insurance covers for smartphones in India are flexible and wide-ranging and like standard insurance plans can be tailored to meet the customers’ requirements. A normal insurance policy covers the following.

1. Fire

2. Theft

3. Accident

4. Riot, strike, malicious damages and terrorist activities

5. Fortuitous circumstances

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The Insurance Providers

Here’s a list of companies that can help you if you need to get your smartphone insured.

• New India Assurance Company

• National Insurance Company

• Oriental Insurance Company

• United India Insurance Company

• Royal Sundaram General Insurance Company

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If Murphy Still Prevails..

So what do you do when the damage is done. Well, don’t worry, here’s a five step guide to claim your insurance

1. Lodge an FIR (First Information Report) at the nearest police station as soon as the phone is lost.

2. Get your SIM card locked by your service provider, you can’t call yourself because well, the phone’s gone. Get proof of the barring from the service provider.

3. In case, you are not able to get the SIM barring proof, get the SIM change subscription bill to prove that you have changed the SIM.

4. Keep the bill/invoice of the phone handy to prove that you actually bought the phone.

5. Complete the formalities that the insurance company asks you for or contact the seller in the event that they take the responsibility to compensate you.

These 5 easy steps can all be done in just 48 hours. So be smart, grab that insurance cover now.

(The Quint is available on Telegram. For handpicked stories every day, subscribe to us on Telegram)

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