Specialist mobile phone and gadget insurance providers like MPID offer a number of great benefits to their customers.
With flagship smartphones costing in excess of £1,000 in 2019, it’s never been more appropriate to invest in mobile phone insurance. And now, more than ever, there’s a plethora of insurance providers that you can approach for the right policy – be it your network, your bank, or a third-party specialist.
But what exactly is on offer from each insurance provider, and how can you be certain that, by getting Halifax mobile phone insurance, you’re getting the protection your smartphone deserves. Let’s take a look at how it compares to Premium Cover from Mobile Phone Insurance Direct, so you can make the right decision.
A lot of people may unwittingly have mobile phone insurance through their home and contents policy. Home insurance is near-mandatory when you buy or rent a home, and it quite often provides cover for gadgets, electrical goods, and other items of significant monetary value. One of the main advantages of home and contents insurance, as it relates to smartphones, is that it automatically covers every device in the home, without the need for multiple policies.
Halifax mobile phone insurance is offered under both their contents insurance as well their combined buildings and content insurance plans. This provides cover for valuables in your home, up to the combined value of £10,000, against fire and water damage, theft, and loss. In the majority of cases you’ll receive a cash sum equivalent to the value of the device when it was damaged or stolen. For example, if you bought an iPhone 8 for £800 new, it would have decreased in value and you would receive cash for the amount it is now worth. In some cases, this could leave you out of pocket.
Another primary disadvantage of insuring your mobile on a home and contents policy is that, should you make a claim, your premiums will go up across the entire policy, which could end up costing you more money in the long run. Similarly, the point of contents insurance is that it covers items within your home – so your device will not be protected whenever you leave the house! If you feel confident that you won’t damage your phone and it won’t be stolen when you’re out and about, this might be okay: but it’s better to be safe than sorry.
One of the easiest ways to get Halifax mobile phone insurance is to get it through your bank account. The Ultimate Reward Current Account offers mobile phone insurance through Assurant General Insurance Ltd, which will get you a repair or replacement device if it’s ever stolen, lost or damaged. Unlike some policies, you’re also covered for mechanical breakdown, with the maximum value of £2,000 per claim. As the bank account is linked to one person, it usually covers one device. However, if you get a joint bank account, it can cover up to two smartphones.
There are several disadvantages to relying on phone insurance from the Ultimate Reward Current Account. The biggest issue is that the account costs £17.00 a month to maintain, which is far more expensive than simply insuring your phone through a specialist provider. With Mobile Phone Insurance Direct, you’ll pay just £11.99 a month for an iPhone XS Max, saving money and getting more comprehensive cover. Furthermore, the Halifax bank account has a £100 excess fee on each claim, whereas our excess fees are £90 for a high-end device. Finally, with mobile phone insurance from Halifax, you can only make a maximum of two claims within 12 moths. With MPID, you can make unlimited claims throughout the year, so there’s always peace of mind.
When you compare what’s on offer from The Ultimate Reward Currant Account to premium phone insurance from us, it’s really no competition; you pay less each month, pay less excess on a claim, get more comprehensive cover, and can make as many claims as you need to!
At MPID, it’s our goal to ensure that you get an insurance policy that works for you. That’s why we offer three different price tiers – including Essential, Plus and Premium – so you can personalise your cover to match your day-to-day needs. Regardless of which policy you choose, you’ll benefit from accidental damage cover, as well as liquid damage, theft, and loss as standard. We also offer worldwide cover, so you’ll be protected wherever you are.
If you’re favourite device is lost, stolen, or broken, we’ll make sure you get a repair or replacement as soon as possible, avoiding the trouble of a cash settlement that forces you to do the leg work. And the best part? All of our repairs and replacements have a 14-day money back guarantee, as well as a 12-month warranty.