mobile phone insurance

A mobile insurance plan covers the expenses to repair or replace your handset in case of damage or loss. Many people advocate that mobile insurance plans are merely a waste of money and don’t think it’s necessary. But a mobile phone insurance plan is essential if you meet any one of the following criteria.

  • You are a frequent traveller.
  • You have the habit of keeping your smartphone in your hands while going out.
  • Your dependency on your mobile phone is high, and you need a quick replacement if it has been damaged, stolen or lost.
  • You have a strong track record of losing, breaking, or damaging your handset.
  • Your current financial condition is not allowing you to replace your mobile phone, and at the same time, you don’t want to downgrade to a lower model.
  • You use a technically advanced and high-end model.

Though the mobile phone insurance space in India is growing at a fast pace, people still have many myths about mobile insurance plans. Below are a few of them:

# Myth 1: A mobile insurance plan is required only for expensive handsets

Many think they don’t require a mobile insurance plan as they use either a budget or mid-range handset or your buying best phone under 50000. But in reality, there is no assurance that when your handset will encounter damage or it’ll get stolen. And depending upon the type of damage, the cost of repairing will vary. Often paying the entire amount for repairing or replacing the parts of your handset from your pocket may exhaust your monthly budget, especially if it happens frequently. Further, if you don’t have mobile insurance, you may get your handset repaired from a local shop to save a few hundred. Having repairs done by an unauthorised party will often void the manufacturer’s warranty on your phone. Besides, third-party repairs are always risky, as there is no guarantee that a skilled person will fix your handset. 

Mobile Device Protection Plan covers smartphones whose invoice price is Rs.6,000 and above. 

#Myth 2: Mobile insurance plans are available only for handsets purchased in India

You can buy mobile phone insurance for a device purchased abroad or even in the name of others outside India. But only some insurance companies provide this facility. So, before buying a cover for your mobile, check whether the insurer included global coverage in the benefit list. 

# Myth 3: You can’t buy a mobile insurance plan for old devices

Though several insurers offer their mobile insurance plans only for new devices, a few insurers cover old ones in their mobile insurance plans. But at the time of purchasing mobile insurance, your handset should be in perfect working condition; to ensure this, your handset should undergo a test. The insurer may also consider depreciation if you purchase the cover after a few months of acquiring the device.

#Myth 4: You can’t buy a mobile insurance plan until you pay the deductible

In mobile insurance plans, you need to pay a sum to the insurer while raising a claim, known as a deductible. The amount of deductible you need to pay depends upon the type of damage, the brand, the model, and the year of purchase of the device. Deductible indicates how much you must spend for every claim before your insurer pays anything. Deductible helps to stop unwanted claims and, at the same time, lowers the insurance plan’s premium. But a high deductible indicates you need to bleed a lot of money for every claim. So, buy a mobile insurance plan that has low deductibles.

#Myth 5: Warranty is same as insurance cover

A warranty is a limited protection from the manufacturer for all new and refurbished devices that is free. Usually, it’s valid for 12 months, but you can extend it for another period by paying an extra amount. Typically, the warranty covers malfunctions caused during manufacturing, such as mechanical or electrical failures or any other damage that happened during shipping. 

On the other hand, a mobile phone insurance plan is a comprehensive cover that acts as an extra layer of protection and includes a wide range of coverage. It includes accidental damages, loss/theft, fraud protection, etc. You need to pay a premium for mobile insurance, which depends upon the price range of the device you use.

#Myth 6: Online plans are fraudulent

Even in this digital era, people believe that online plans are fraudulent. In contrast, they are safe, swift, and the most economical deals when you purchase online.

Mobile Device Protection Plan is a comprehensive mobile insurance cover from Bajaj Finserv that offers coverage for accidental damage to your handset as well as screen, mobile theft cover, liquid damage, and malware & antivirus protection.

By Anurag Rathod

Anurag Rathod is an Editor of, who is passionate for app-based startup solutions and on-demand business ideas. He believes in spreading tech trends. He is an avid reader and loves thinking out of the box to promote new technologies.