Are Mobile Phone and Gadget Insurance Policies Worth It?

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Smartphones and computers have become a very important part of our lives. They are very useful gadgets that can be used for a wide variety of things, from talking to our friends and family, to managing our finances, perform money transfers, check out the news, and enjoy our hobbies.


To some people, living without a smartphone or a computer or not having internet at all is something unthinkable, and I can agree with this sentence to a certain extend. However, most of the mobile phones, electronic devices, and gadgets we use are very fragile, and a slight mistake can cost us a lot of money, time, and stress.


Consider that some people save up money for months to get their hands on a single device! Expensive devices like those belonging to the Apple brand, for example, can cost from $600 to $900!


Imagine losing such an investment! For that reason, some people do engage in very peculiar yet useful takes on this matter: cheap mobile phone insurance and gadget insurance, a rather affordable and reliable method of making sure that your money is being (and your devices) are being protected.


But how do they work, and are they actually worth it? In this article, we will talk about this specific type of insurance in more detail, as well as discuss why you might want to add this type of insurance to your monthly expenses.


Let’s Talk About the Importance of Mobile Devices

It is true that mobile devices have become essential to most of us. More than 90% of the current world population has a form of mobile device, from tablets to laptops and smartphones, but more than being things we use for entertainment, they are tools we need for a lot of things.


For example, people use phones to remain in contact with their family and friends, but most people also use them to remain in contact with co-workers and superiors, as well as to remain on the lookout for any problem or situation that might arise in the work environment. This is especially important for workers that need to be extra vigilant about changes or problems that could greatly affect a company’s performance, such as programmers and IT workers.


Of course, there’s more to it than just that. Some people, like myself, use their phones to save up important information related to jobs, studies, finances, and journals related to the progress of specific activities and hobbies.


Smartphones are things that greatly ease our burden at different aspects of our lives, and losing them is definitely a huge hit to our overall performance, happiness, and comfort. For that reason, we should be prepared if anything would happen to them… But how?


Why Insurances Are a Possible Solution



Here’s where insurances enter the place. Insurance that focuses on mobile and electronic devices is capable of providing different types of coverage with a lot of benefits for mobile users. Of course, this coverage depends entirely on the provider and the terms of the contract, but they usually cover things linked to.


  • Phone repairs and parts replacements
  • Compensation if the device is lost or stolen
  • Compensation if the device is damaged during an incident or unwanted situation
  • Compensation if data or cell phone balance is misused after it is stolen


As showcased in this article, this can be a huge advantage considering that some repairs of a phone can go up to $200, especially if the repairs involve the replacement or repairs of a part that is difficult to manage or find. Good examples of this include things like screens, power buttons, charging pins, and battery replacement.


Is It Worth It, Though?


Insurance is always a matter of how you perceive it, as well as your financial situation and the way you take care of your belongings. Someone who’s very careful and buys extra equipment for a phone to be much more safe, like special safety cases and phone security chains, might not really need it, but as I mentioned earlier, it depends…


If you believe that spending from $3.50 to $15 a month to pay for insurance, and you know that you’ll get advantages out of it, you might as well consider paying it up, especially if you have a history of losing your phone, damaging it, or having it stolen. People who live in not-so-secure zones might also benefit from it a lot, so it all depends on you.


Ideally, you should assess your financial situation as well as your attitude towards your electronic devices to decide. If you can spare the extra bucks on a monthly basis, try it out!


In Which Occasions Is Recommended?


With that said, there are some occasions on which I would absolutely recommend having a mobile insurance policy, and those occasions include:


  • Having really expensive phones or devices, ranging from $500 to +$1,000: Considering that the prices of mobile insurance go from 3 to 15$, you’ll have to spend from 170 to 35 months to spend the whole price of a $525 device. This is a lot of time, and if you consider the chances of something happening in such a huge time frame, the benefits usually outshine the expenses.
  • If you suffer from a physical condition that might increase the chances of your device receiving damages: There are many physical conditions that might cause you to lose your balance or consciousness, thus, increase the chances of your phone suffering from damage.I had a friend that used to pass out because of heatstroke, and a very close family member suffers from narcolepsy from time to time. There are many reasons behind someone losing their consciousness or overall control of their body, so having insurance to cover up some of the expenses of damages and repairs for a mobile or electronic device will definitely come in handy.
  • If your mind is constantly in the clouds: Distracted people are well known for losing some of their stuff, and losing smartphones is a very common problem for them. I can include myself in this category, too! I’ve lost about 2 phones in my whole life, and I have only had around 5 (I’m not such a big fan of buying new phones).If you are one of my people, you should consider having phone insurance…








Final Tips


Besides having insurance, there are some things you should consider doing if you cherish your smartphone, laptop, or tablet. First of all, try to get your hands on some safety-related goods, like cases, screen protectors, chains, and even anti-theft apps and software.


Nowadays, you can install apps and programs for your smartphone or computer that lets you track them in case they are stolen, and this can be a great help if you manage to act quickly! There are even some very small devices that camouflage themselves as decorations that work similarly to GPS’s, to help their owners recover their phones in case something happens.


Dealing with damage and repairs can be avoided if you take your time and prepare yourself and your phone for the worst, but having insurance is the last line of security you can have in case those preparations are not enough, which is the reason why I recommend having an insurance policy even after taking countermeasures.

What do you think?

Written by Guest Post


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