Is iPhone Insurance Worth It?


The main issues that mobile phone owners are having with insurance policies are the price points or value.

In spite of 64 percent of smartphone owners stating that losing data from their phones “would be emotionally damaging”, only 21 percent “currently insure their handsets”, according to a study done by YouGov UK, called “Mobile Phone Insurance 2017“. 

That said, a high-end purchase for the new iPhone X, iPhone 8 or iPhone 8 Plus is worth protecting. So, here is an outline of the available insurance options to help you determine which are really worth it.

Apple Support Options

You might already be taking advantage of the one-year limited warranty that was included with your iPhone purchase.

It covers your handset against defects for 12 months, and it offers complimentary phone support for 90 days. For an additional £129, the AppleCare+ Protection Plan will extend hardware coverage and phone support to two full years. The excess fees are £25 for screen damage and £79 for any other damage.

With one of these options, you can delay your decision-making about mobile phone insurance for one to two years. 

Gadget Insurance

Gadget insurers provide iPhone insurance, and you can get cover for a single item or a bundle of electronic gadgets.

These type of insurers typically cover your handset against accidental damage, liquid damage, mechanical breakdown, theft, loss, cracked screens caused by accidents, 60 to 120 days of worldwide cover, and unauthorized calls made from your handset as a result of theft or loss.

Specialist gadget insurers tend to replace your handset within 48 hours of a successful claim, and premiums start from as little as £4.25 a month.

Contents Insurance 

If you have taken out a contents insurance policy with accidental damage cover and, even better, away from home/personal possessions cover, then it will cover your iPhone.

However, this does come with a heavier premium, and there will be a higher excess fee of up to £500. While contents insurance may not be the best value if you had to make a claim for your iPhone exclusively, it is a worthy option if you also need this type of insurance for your home. 

Current Accounts

High Street Banks in the UK offer mobile phone insurance (usually combined with travel insurance and breakdown cover) for anything between £6 and £15 a month.

This is an alternative way to ensure your iPhone if you know you’ll be needing all three types of insurance at once. 


Bottom line

Considering if you already have cover for your iPhone could save you from forking out extra cash for iPhone insurance, right away, if at all.

While insurance of some sort is essential to protecting your iPhone against loss, damage or theft, the ultimate decision should boil down to which option brings you the best value or meets your personal circumstances – and what level of risk you are willing to take with your handset. 

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