Comparing mobile phone insurance. Get it right!

It’s got to the point where I now have the cheapest mobile deal in the house. My wife, however, is spending nearly £58 per month on her two-year contract. It’s a crazy amount for a Galaxy S9, however there’s a few “additions” to the package she’s got. The first was the “free” Spotify, which isn’t really free when you consider the cost of the contract she’s paying for.

The next thing, which is something we bolted on, is the Vodafone mobile insurance. This means that the phone will be replaced or repaired in the even of a problem, but it’s something I’d cancelled a while ago when I was trying to sort out our monthly budgets.

You need to monitor a few things when getting mobile phone insurance. Firstly is the monthly cost – keep this as low as possible. Next is what you’re covered for – ensure that it’s sufficient to cover water damage and other accidents. Some providers and even manufacturer warranties won’t offer protection against loss. This can be a bit of a shock if you’ve misplaced your phone and you assume that it’s covered. Dig around the third-party insurers and you’ll find that insurance against loss is more prevalent. Keep an eye out for details like this – ensure that your phone is properly covered, else you could be out of pocket if you accidentally misplace your device.

Then, there’s the cost of the excess payment. Just like car insurance, you’ll usually have to pay an excess if you make a claim. This, however, can vary depending on the model of your phone. Some expensive phones have a £100 excess and it’s something you’ll need to keep an eye on as that “cheap monthly cost” might involve you paying a big excess charge when you make a claim.

Sites that compare phone insurance are definitely worth checking out. We just called Vodafone and asked them to put the insurance on top of our monthly bill. Indeed, a lot of people do this and it’s not always the best solution. Again, like car insurance you really need to shop around and see what the best offer is.

So that’s where I am right now, comparing mobile insurance. It takes a few minutes but it’s really worthwhile. Don’t always go for the cheapest price. Take a look at what you’re getting for your money.