How to get TSB mobile phone insurance?
Unlike other banks, which give you the option of phone insurance within a home and contents policy, TSB actually offer gadget insurance as a separate product. This includes everything from your phone to your tablet to your laptop and can be purchased irrespective of whether you have a home insurance policy with the bank. In fact, this could theoretically be your one and only interaction with this provider.
Gadget Cover under a TSB Pick and Protect policy allows you to choose an insured amount between £500 and £10,000. This will vary depending on how many items you want to insure as well as the total value of each item. Presumably, the higher the amount you want to insure, the higher your excess charges could be, and the more you’ll pay in monthly premiums. This form of TSB mobile phone insurance protects you against accidental damage, loss, and theft, as well as theft from an unattended vehicle up to the value of £1500.
While this is rather comprehensive cover, there are some drawbacks. For example, you will not be protected against ‘cosmetic damage’ such as scratches and dents, and it is unclear whether your policy extents to screen replacements. Furthermore, TSB provide no information about whether you receive a like-new replacement device should the worst happen, or whether they pay a cash sum.
At Mobile Phone Insurance Direct, we understand how important your mobile device is to you, so we aim to get a like-for-like replacement to you as soon as possible, and never settle with a cash sum. Not only does this give you peace of minding knowing that you’ll be up and running again in no time, but it also saves you the trouble of having to buy a new device.
Bank Account Cover
Another way to get mobile phone insurance from TSB is to have a Silver Current Account with the bank. This covers one mobile device for the sole account holder, however, if you have a joint account you can cover up to two devices. The account covers you for up to £2,000 or the original purchase price of the mobile, allowing you to replace or repair the device. As part of the policy, you are covered against loss, theft, and damage, as well as unauthorised calls up the value of £1,500.
The bank account incurs a monthly fee of £9.95, which includes the price of insurance. If you need to make a claim, you’ll have to pay a hefty excess charge. For the majority of handsets this is just £50, but iPhone users will have to pay £100 for any repairs or replacements.
In comparison, MPID has an average excess cost of just £50, regardless of the device. This only increases if you want to claim on a very expensive, top-tier model such as the iPhone XS+. Furthermore, for the majority of devices, the monthly premiums will actually be cheaper from MPID, with the ability to make unlimited claims and benefit from worldwide cover.