Mobile Phone Insurance from Nationwide
Home and Contents Insurance
As with other banks, it is possible to benefit from mobile phone insurance when you take out a home and contents insurance policy with Nationwide. While this is slightly indirect – you won’t actually be insuring your device, but will be able to claim if it’s damaged in your home – it can be a good way of avoiding having to pay for multiple policies. Just so long as you’re comfortable with the downsides.
Nationwide’s home and contents insurance covers up to £50,000 worth of good in the home, which is more than enough to protect your mobile device. This primarily protects against theft and unexpected damage, such as flood or fire. It does not cover you for wear and tear or accidental damage, so if you crack the screen on your smartphone, you won’t be able to claim for it. Furthermore, the excess charge on this policy varies depending on the cost of the item – ranging from £50 to £500. Depending on the value of your smartphone, you could end up paying more excess then you’d otherwise need to.
Whilst relying on home insurance does have its drawbacks, there are ways in which you can protect your smartphone further. For example, you can add Accidental Damage Cover to your policy, which will enable you to claim in if your break or damage your device, and you can add Out and About Cover, which will insure your smartphone under you home insurance policy, even if it’s damaged, lost, or stolen outside the home.
The main issue with optional extras is that they will increase your monthly premiums, making them more expensive than a basic smartphone insurance policy. What’s more, if you do have to make a claim, your premiums will increase across the board, not just for the item you claimed for.
Bank Account Cover
Another easy way to get Nationwide mobile phone insurance is through the FlexPlus current account. When you take out this bank account in your name, one of the added benefits is worldwide family phone insurance, which protects all of your family’s devices against loss, theft, and accidental damage, up to the value of £1,000. This also covers your device against unauthorised calls, as well as accessories cover if they’re damaged or stolen at the same time.
While this is one of the most robust mobile phone insurance policies offered as part of a bank account, there are still some drawbacks. These include the inability to make more than 4 claims in a year (presumably, one for each family member) and the hefty excess charges that apply, which could be up to £100. Furthermore, the bank account costs £13 a month to maintain, which is slightly more expensive than dedicated mobile phone insurance, however, if you can enjoy the extras, it may be worth the investment.