Mobile Insurance with Bank?

ToReadItSanctifiesIt

I want to upgrade my Lloyds account to Silver membership so I can make use of the phone insurance if I should have to make a claim in the future. Questions:


1. How long after I have upgraded until I can claim for a damaged phone? ie If I upgrade account today, break phone tomorrow, can I claim the day after that?


2. Am I able to cancel the Silver account and revert back to a free current account if I decide I no longer want the services, even though I have used them, eg phone insurance claim? Or are you tied in for 12 months or something once you have made use of one or more of the services?

grumbler

Silver Account Mobile Phone Insurance Policy Document

It's a monthly contract.
So, it's yes to your both questions, although you have to register your phone first before making a claim.

cifpower

Is it cheaper to pay the silver account fee than have separate mobile phone insurance? What about the excess if you need to claim; how does that compare?

InsideInsurance

ToReadItSanctifiesIt wrote: »

1. How long after I have upgraded until I can claim for a damaged phone? ie If I upgrade account today, break phone tomorrow, can I claim the day after that?


2. Am I able to cancel the Silver account and revert back to a free current account if I decide I no longer want the services, even though I have used them, eg phone insurance claim? Or are you tied in for 12 months or something once you have made use of one or more of the services?

1) Read the terms.

I havent read that particular policy but some do require X days before a claim for a phone that isnt added to the policy from date of purchase.

Any claim that is either immediate or very close to X days if there is a minimum period of cover is going to be looked at exceptionally closely for fraud. Clearly you can be unlucky and break it the day after taking a policy out but probably more break it the day before taking the policy out and then commit fraud by changing the date of loss

2) Minimum term is again just to month end but again its going to raise all sorts of Fraud warnings if you buy, claim, cancel.