Business

Mobile Insurance – Why & How Should Get One For Your Smartphone?

mobile theft insurance

According to a recent study, the total count of smartphones in India is estimated to reach 424 million by the end of 2022. A mobile phone is among the most common objects carried by individuals nowadays, central to the modern tech-dependent lifestyle. Having a mobile insurance policy in place is thus vital.

Why to purchase a mobile insurance policy?

With the emergence of digital payment systems, a growing number of individuals manage their finances with the help of a single device, their smartphones.

Smartphones have evolved from an item of luxury to an essential gadget to make our lives easier. As important as it is, users of such devices are advised to have their mobile theft insurance in India for financial coverage in case the device is stolen. Convenience comes with a price, and any third-party individual may be able to access your finances with just as much convenience as you can with the right technology and software know-how from the smartphone.

Although, the concept of mobile insurance policy is fairly new, there are several financial institutions that offer mobile insurance in India. Individuals are spending more on smartphones for their advanced technology and easier access. Financially protecting them is with an insurance plan in place is only obvious.

Just like any other electronic gadget, issues in the hardware and software of a mobile device are commonplace irrespective of the manufacturer and usage. Any small accident like a hard fall or spillage of water can lead to permanent damage to the mobile phone.

How to apply for a mobile insurance policy?

Following these easy steps to purchase a phone insurance mobile insurance online –

  1. Visit the website of the financer from where you would want to purchase the insurance plan of your choice.
  2. In the application from, you need to fill up necessary personal details like name, age, phone number, etc. You are also required to provide the IMEI number of your mobile device.
  3. Enter the OTP on your registered mobile to authenticate the application process.
  4. Purchase the insurance plan and pay the premium to initiate the policy coverage.

Types of mobile insurance plans

There are several types of insurance covers offered by financers to protect you from any financial loss related to any mishap regarding your mobile phone. These insurance covers can be divided into two primary categories –

  • Device cover

If your phone is stolen, you lose not only all your data but you also need to gather funds to purchase a new device or refer to a substitute, which will surely be less featured device. A mobile insurance policy can help you financially cover the cost of purchasing a new mobile device. Note that you will only be able to benefit from disbursal equal to the sum insured as mentioned under the insurance coverage in case the device is misplaced or stolen.

  • Accessories cover

Mobile phones are an electronic device that runs on a battery. Your mobile phone charger is an essential accessory for continuous usage of your device. However, since it is a portable accessory, it is also prone to theft and breakdown. Mobile Charger Insurance under Pocket Insurance to help you avail financial protection against a lost or stolen mobile phone charger.

Your device can also get damaged due to any accident. Since the display screen is the most delicate part of your smartphone, it can break easily or come up with faulty touch-sensors. Opting for a screen replacement can prove to be costly for expensive smartphones.

Hence, you can avail a Mobile Screen Insurance plan to cover most of the funds required to repair your damaged mobile screen. With a mobile screen insurance plan, you can avail coverage against fire, theft, and damage caused due to accidents.

In case of theft or damage to any other valuable accessories like headphones, you can also opt for a wireless headphone insurance plan, small gadget cover, etc.

Considering the above, it is advised to purchase mobile theft insurance in India to help you avoid substantial expenses as well as the hassle in finding a replacement.

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