Phone insurance with Santander

WelshSun

Hi there,

Im considering opening a student bank account to get the free mobile insurance they offer.

Santander with their student account covers £500 worth of phone cover. I have an iphone 4 16GB from Tesco mobile on contract. Apple sells the phone for £510 payg and Tesco doesnt sell it at all, but Orange will sell it payg for £480.

So what do Santander mean when they say they have a £500 limit for insurance? Will it cover my iPhone?

Thanks.

WelshSun

Any help please?

WelshSun

Sorry to bump, but any help??? Thanks

rksworld

I guess what they are saying is that in the event of a claim, if they have to replace or repair it and the cost of doing so works out to more than £500, then they will be unable to honor your claim. So imagine the iphone 4 went up in value ever so slightly (maybe due to a VAT increase!) and it bumps the value of a replacement phone that they can procure to over £500, they will not offer you the replacement iphone, they might however offer you another phone (maybe of another make!!) which costs less than £500. I think you are fairly safe here, as the iphone can be procured in the market for less than £500 and given that iph5 should be out sometime soon, no chance apple will hike up prices for iph4.

your other option to check would be to call the insurance provider - usually all these policies are offered by another outfit (like Lifestyle Services Group or CPP), basically Santander will pay the premium for these policies on your behalf, so it costs you nothing to have the policy as long as you maintain the current account. Hope the above helps.