In the digital era, mobile phones have become a part of our day to day life. Owing to the various technological advances, everyday there is something new happening in the world of mobile devices.
In the recent years the Asian countries have seen a lot of growth and development in terms of telecom technology. In the past one decade, the mobile industry has grown tremendously. The use of smartphones from banking to online shopping. Various mobile phone brands are available in the market. Consumers are spending on smartphones and this is a result of high disposable income. Mobile insurance can save you from the loss due to theft or damage.
Based on features, these phones range from 4k to 80k. There is a trend of having a latest mobile phone in the hand. They have changed the face of the society and in such a situation, there are chances that your mobile phone gets stolen or damaged.
However, in the event of any mishaps the cost of repairing a mobile device is high. For example, if you consider the high end phones like iPhone, Samsung galaxy series and other phones get damaged. The cost of repair is almost half of the instrument cost.
This is where mobile phone insurance ecosystem into picture. These insurance plans include repairs, accidental damages along with other mechanical failures. Here are some tips that will help you select the best insurance
Phone Insurance from Manufacturers
Phone insurance is also given by various manufacturers. For example, Applecare covers damage caused to Apple phone. While buying the smart device you can pay an extra amount that is an insurance. In the event of any mishaps can be covered. The same is also given by other leading manufacturers like Samsung.
Carrier’s Insurance
Another company that provides insurance is the mobile carriers. Often they have deals with other insurance companies and so the prices are deducted. This also varies depending on the tier you choose and often also covers loss and thefts.
Third-Party Insurance
This is another and extremely popular type of insurance, a third-party insurance. Some popular third party insurance are SquareTrade and Syska among others. Through these users can pay 80 dollars for a year or approximately 129 dollars for two years. Ensuring that you get the whole value of phone or replacement in the event of any mishap.
Already Have Insurance
Mobile phone insurance is also easily available on credit cards. This is mostly done at the time of purchase, especially if you are using a credit card or have opted for paying the bills online than it automatically insurance is given.
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