April 15th, 2020
Smartphone Insurance or mobile insurance has become an absolutely necessary need for having a smartphone these days as a mobile phone or a smartphone has already become an important part of our life today. No business or a professional or even an individual can run without a smartphone nowadays. We use smartphones for communication, business, entertainment, shopping, social networks and many other activities.
In such a scenario, loss, theft or damage to the smartphone can cause serious problems in your working life. Therefore, to obtain financial support in case of theft or accidental damage to the phone, we must opt for it.
In addition to use, the cost of smartphones is also skyrocketing. To protect your smartphone against theft or damage, you can buy a mobile insurance policy.
I recently bought a smartphone online (Redmi K20 pro) and came to know the mobile or smartphone insurance offer. It was a lucrative offer and I was wondering whether to opt for mobile insurance or not. In this post, I will share a complete guide about smartphone insurance, including the list and brief details of "Best Smartphone Insurance Company in USA and India 2020"
Smartphone insurance is a special type of insurance designed for mobile phone protection. It covers various risks associated with a mobile phone, such as theft of loss against damage.
On loss, theft, and damage of the smartphone there is a possibility that stored data on the device will be lost or stolen or tempered, which will create various serious problems of different levels, credential data loss, privacy breaches, including financial damage.
|Mobile Insurance||Extended Warranty|
|Loss and Theft are covered.||Loss and Theft are not covered.|
|you can opt for insurance through any insurance company online.||Most of the time, it is offered by the manufacturer of the smartphone only.|
|Accidental and Liquid damages are covered.||Accidental and Liquid damages are not covered.|
|Phone insurance is an additional cover availed by the owner from insurance companies.||It is included in the purchase price of the smartphone or gadget.|
In the era of the digital world, peoples are spending a lot on buying smartphones and any problem with them can create a hole in their pockets. To overcome these problems, companies now offer mobile insurance in India. These policies provide coverage against theft or accidental damage to all types of phones, including smartphones.
Smartphone insurance or gadget insurance is offered by insurance companies approved by IRDA in India and the National Association of Insurance Commissioners (NAIC) in U.S. As the cost of the mobile phone is growing, it is a good idea to buy mobile phone insurance and save money.
Smartphone insurance or gadget insurance is not mandatory for everybody; however, getting one for your mobile phone or smartphone insurance will surely help you to avoid financial losses related to your theft or damage. Let us understand the need for smartphones or gadget insurance and how coverage can rescue you by addressing various situations.
Liquid or water damage coverage: Any accidental damage to the smartphone or gadgets due to water or other liquid is covered by smartphone insurance. A smartphone or electronic gadget can also be damaged due to humidity or moisture and this is also covered by the insurer.
Protection against theft: it is quite difficult to recover the phone if it is stolen. And with the stolen phone, you also lose all your data. Financial loss is another setback associated with theft. Therefore, it makes sense to obtain mobile insurance to deal with such situations, since it covers the cost of a new phone.
Protection against accidental damage: Premium Smartphones are very expensive nowadays and the repair of any type of physical damage can be an expensive matter. Obtaining mobile insurance can be a good decision, considering the fact that it provides coverage against breakages also.
Phone loss protection: In case the smartphone is lost, you will not get any compensation even under warranty from your OEM. However, if you lose your smartphone, you get certain compensation up to the insured amount of mobile insurance.
Covers a high repair cost: Any damage to expensive flagship-level smartphones such as Apple, Samsung, Motorola, OnePlus, etc. It would lead to a higher cost of refurbishment or repair. To avoid paying a large amount in smartphone repair, it is better to take advantage of smartphone insurance.
Smartphone insurance generally offers coverages for various types of damages or loss or theft of the smartphone or gadgets. Let's have a look at the standard coverages below:
Below are some of the standard steps that must be followed by the insurance holder or insured of the smartphone insurance policy or the insurance company that has provided the coverage in case of a claims settlement. However, the process may vary from company to company.
The client must present the required documents to the insurance company to start the claim process of the insured smartphone.
Some of these documents may include an original phone bill, along with the phone's serial number and the insurance policy number. If you lost your phone or it is missing, you must submit an FIR and send your copy while filing a claim.
The standard insurance claim steps are:
Certain cases are not covered by smartphone insurance or gadget insurance. These come under exclusions cases or scenarios. These exclusions generally vary from one insurance company to another. Let's review some:
Best Smartphone Insurance Company in USA and India 2020:
The best smartphone insurance provider in the USA:
#1 SquareTrade: SquareTrade is one of the best phone insurance providers in the US, has a comprehensive coverage plan for your smartphone. SquareTrade is promoting its offer to be a viable replacement for operator offers, which is partly true depending on the type of coverage SquareTrade offers.
The key features of SquareTrade:
#2 Asurion: Asurion provides insurance service in a slightly different way than other insurance providers since it does not offer insurance directly. Still, it lists some best plans of the main US operators. Supported operators include Verizon, Clear Wire, Sprint, Boost Mobile, AT&T,Clear, Metro PCS, T-Mobile, nTelos, Virgin Mobile and Time Warner Cable.
#3 Geek Squad: Geek Squad is one of the best and attractive third-party mobile insurance provider company. What distinguishes it from the rest of the insurance that it comes with an internal service, which means that the company will pick up your phone directly from the door.
The best smartphone insurance provider in India:
#1. OneAssist- One Assist is next on the list of the best mobile insurance company in India. One Assist provides insurance for mobile phones, laptops, tablets, wallets, and appliances.
The key features of One Assist Mobile insurance:
#2. Syska Gadget Secure - Syska is one of the best mobile insurance companies in India. Syska offers the Syska Gadget Secure plan for mobile phone insurance. The security of Syska Gadget must be purchased within 15 days from the date of purchase of the device as mentioned on the invoice.
Key features :
#3. Times Global Assurance- Times Global is the best and largest mobile and portable insurance company in India. Buying smartphone insurance through Times Global is very easy.
Key features :
#4.Onsite Go - Onsite Go is also one of the best device protection companies in India. Onsite Go offers insurance for smartphones, tablets, laptops and other gadgets.
It is our recommendation that someones should buy at least smartphone insurance if –