Insuring Your Device Through O2
Like other smartphone network providers, O2 do offer their own brand of mobile phone insurance, which is usually purchased when your take out a new contract or upgrade to a new model. These types of insurance are usually quite comprehensive, covering everything from device damage to theft and loss, however, they can be quite costly.
As previously mentioned, most networks will offer insurance on top of your mobile phone contract, with a fixed monthly cost and premiums. This is usually a blanket price for the network, which means that it remains the same regardless of device – with only brand-new flagship models seeing a rise in cost. This means that, unlike with independent mobile phone insurance companies, someone with an older model could be paying the same as someone with a newer, more expensive device.
02 is a little different in this regard, offering several insurance options at progressively more costly tiers. 02 mobile phone insurance is available in two options: Damage Cover and Full Cover. A Damage Cover policy protects your device against accidental damage or a cracked screen, with the monthly premium varying depending on the age of your smartphone – ranging from £3.00 a month to £9.00, with differing excess charges. If you have to make a claim on this policy, you’ll receive a replacement phone within 3-5 days (standard excess) or the next day with Next-Day Exchange excess, however, this option does cost £30 more for the most expensive policy.
Full Cover, as the name implies, offers a holistic insurance package, including accidental damage, theft and loss. As with Damage Cover, the price of the policy varies depending on the age and make of the smartphone, with the cheapest option being £6.00 per month and the most expensive being £15.00 a month. It is not indicated which devices qualify for what price bracket.
As an independent, pure play provider, Mobile Phone Insurance Direct offers varying prices depending on the make, model, and age of your device. For example, the cost of Premium Cover for an iPhone 6s – a relatively old, high-spec device – with us is £6.35 a month, which includes accidental, liquid, and screen damage, as well as theft, loss, and accessory protections. Similarly, Premium Cover for an iPhone XS costs only £8.99 per month, with a potential claim saving of £144 when compared to 02, over the year. What’s more, 02 mobile phone insurance is only available to people on the network, whereas Mobile Phone Insurance Direct is offered to everyone.