O2 Insurance

ccdorset

Hi,

I'm currently paying £12.50 a month for O2 insurance. I've had my iPhone 5s for about 10 months now. It seems a lot of money to pay. Just after some opinions really? Should I keep it, move to a cheaper provider or cancel altogether. I've had insurance for about 4 years on my mobiles and never once made a claim.

Thanks

JJ_Egan

Four years insurance circa £600 .
I personally stand the risk and can then afford a new phone easily .

cklass

You mentioned in your other thread that you're starting a new job as cabin crew, so it seems to me that it may be worth keeping your phone insured as your job may put you more at risk of loss/theft than most people?

There are people on here who are currently battling with their networks over astronomical bills that they've received after having their phones stolen abroad - having a policy that covers situations like that may be useful.

Take a look at this guide: http://www.moneysavingexpert.com/insurance/cheap-mobile-phone-insurance It lists a number of providers including Nationwide, which has a bank account that costs £120 a year and comes with mobile phone insurance as one of the benefits. I haven't looked at the policy, but it seems there are cheaper alternatives to O2 that you could consider if you do decide to continue insuring your phone.

The guide points out that one of the drawbacks of not insuring with one of the mobile networks is that a replacement phone would take longer to be sent out to you. There may be other drawbacks and exceptions, so just make sure that any new policy meets your needs.

ccdorset

cklass wrote: »

You mentioned in your other thread that you're starting a new job as cabin crew, so it seems to me that it may be worth keeping your phone insured as your job may put you more at risk of loss/theft than most people?

There are people on here who are currently battling with their networks over astronomical bills that they've received after having their phones stolen abroad - having a policy that covers situations like that may be useful.

Take a look at this guide: http://www.moneysavingexpert.com/insurance/cheap-mobile-phone-insurance It lists a number of providers including Nationwide, which has a bank account that costs £120 a year and comes with mobile phone insurance as one of the benefits. I haven't looked at the policy, but it seems there are cheaper alternatives to O2 that you could consider if you do decide to continue insuring your phone.

The guide points out that one of the drawbacks of not insuring with one of the mobile networks is that a replacement phone would take longer to be sent out to you. There may be other drawbacks and exceptions, so just make sure that any new policy meets your needs.

Thanks for the info. I stupidly never thought about cover for unauthorised calls abroad and it seems O2 doesn't cover this! So I will have to look for a policy elsewhere. I would prefer to have the next day replacement service offered by O2, but I think cover for unauthorised calls is far more important as that could be really expensive abroad.

AlecEiffel

I cancelled mine after a week when I did the maths.


24 x £12.50 = £300. Add £60 excess if I made a claim = £360.


My Phone Plan (on O2 Refresh) = 24 x 15 = £360.


Considering on Refresh you just pay the balance of the phone plan I figured as they work out the same over 2 yrs I would risk having to fork out, for some of the plan, whilst hopefully saving the value of a whole handset.

Quiet_Spark

I pay £7.50 per month to Barclays to "upgrade" my current account, and part of those upgrades includes insurance for all mobile devices I have (eg, tablet, phone, laptop, etc) up to a value of £1000 per device.

It allows for a maximum of 2 claims per year, with an excess of £50 if I do make a claim.

macman

Cancel it as long as you can afford to replace the handset outright (or with something cheaper). Plenty of budget smartphones down to about £60.

W1zz

Nationwide Flex Plus account. £10 a month and also includes mobile insurance for 4 devices.

Other perks include: free worldwide travel insurance, breakdown cover, extended warranty, commission free cash withdrawals.

Also £80 quidco

ccdorset

Thanks for your replies.

I am really in 2 minds about what to do. I have my bank account with first direct and don't really want to change as I'm really happy with them. Though I have to admit the Nationwide account does look good.

On one hand I think cancelling the insurance and just putting that money aside each month would be the best bet. But on the other hand, I am at a greater risk with all the travelling I do. The O2 insurance is good as it offers next day replacement, but then doesn't cover unauthorised calls - which could be very expensive if someone uses my phone abroad.

Hmmm, a difficult decision for me!

cklass

You don't have to close your First Direct account to open the Nationwide one. You could just open it for the benefits, but if you have money to save, it's a good account to have just for earning interest.

ccdorset

Do you have to pay in a minimum amount into the Nationwide account every month?