Mobile phone insurance

top_drawer_2

hi,

I am evaluating my financial situation and was wondering what people thought on mobile phone insurance. I automatically took it when I got a contract with three in November, its around £4.99 a month. I have had a look at the t&c's and they seem ok. Is there any reason it might not be worthwhile keeping it and saving myself the £5 a month. I have a skype phone (never used the skype yet!) and the contract is around £22.50 a month.

Jenny

Browntoa

often cheaper to add it to home insurance rather than a standalone policy

and depends on how much you would need to spend to replace it

top_drawer_2

mmm I dont actually have insurance for my house/belongings ......... I never could afford it so I didnt get any.

How much would a cheapy phone be? I know my skype phone is locked against any other sim cards.... and Im not sure how much a replacement sim card would be....

Jenny

OneADay

Never kept insurance myself - always cancelled it.

The one time I regretted doing that was my first contract phone Sony E28 I think in 2000/2001. Cheeky CPW told me I had water damaged it even though it had been heating up by itself and the day I took it to CPW store it was peeing it down.

Anyways apart from that - the only type of phone you would want insurance for is for iphpne or something - simply as it likely to cost a bundle to repair - but even that I could live without. Phone goes wrong, stick sim into a cheap £10 pay and go for remainder of contract.

LeeSouthEast

I discovered in January I was still paying insurance on a handset I took out 5 years ago! £34.95 every 3 months! Thanks CPW...

Needless to say unless it's a £500 handset, it's not worth having insurance at all. See if your household covers it.

dacouch

Your paying £60 a year to Insurer a phone worth probably about £300, however you do not have any Home Insurance. I think you have got your priorities around the wrong way.

Why don't you cancel the phone Insurance and take out Home Insurance, you could probably cover your whole home and the phone for between £80 and £130 a year (Maybe even less with new customer discounts and or Quidco).

top_drawer_2

Thats pretty much what I thought!! I have just never thought about it. I accepted it when I got the phone as I thought it was safest.... I will look into house insurance and I have already cancelled the DD with my bank online.

Thanks everyone!

Jen

dacouch

There is plenty of advice on the main MSE site on getting a great deal on Home Insurance and cash backs etc. If you put a post up or read some of the threads on the Insurance Forum on MSE you will also find great advice.

You will need a Home Insurance with Personal Belongings / Unspecified Personal Possessions Cover which will cover your phone and other personal effects away from the home eg cameras, jewellery, baggage, glasses etc. (Check to make sure they do not exclude phones as a few ask for phones to be specified).

Keep your excess (The amount you pay towards a claim) low eg around £50 otherwise its not worth claiming for low amounts

[Deleted User]

top_drawer wrote: »

I have a skype phone

Hang on... you're paying £4.99 a month to insure a phone that costs £39.99 to buy new? Why not just buy another as a spare and cancel the insurance?

(http://threestore.three.co.uk/payg/dealsummary.aspx?offercode=DSL0PP030)

top_drawer_2

they must have seen me coming ............

I have it on a 18mth contract too so am stuck with it now until Feb/May depending on whether I want to stay with three.