If celebrities can insure their body parts, why shouldn’t we insure our mobile phones?
Mobile phones are something most people these days cannot live without. We bring them with us everywhere we go. Many even bring it to bed with them.
It has also become something of a status symbol. Each time a new iPhone is released, Apple fanatics would flood the stores forking out their savings to get their hands on the latest model.
If it is something so important, wouldn't be a pity if the phone was accidentally dropped into the toilet bowl or left behind in a taxi?
Like all things that are of value to us, mobile phones now can be insured.
Do we really need mobile insurance? Isn’t that taking it a bit too far?
No, not really. Let’s take a look at why the product even exists in the first place.
Here’s a fact: Singapore is ranked highest globally for smartphone penetration, with nine out of ten respondents having access to a smartphone.
And for those with a busy lifestyle, they may even have more than one smartphone!
The insurance industry understands that there are some important factors that people might take into consideration before buying into its plans.
Here are some of them:
- Smartphones are expensive.
- In Singapore, consumers commonly sign up to a long-term mobile phone contract.
- In the event of an accident or loss, it would be a financial burden to replace the current mobile phone and most consumers wouldn’t want to downgrade to an older model.
- Most of us are heavily reliant on our smartphones and would want/need it replaced or repaired instantly if it were damaged.
How can your mobile phone be insured?
People these days are carefully backing up all their mobile phone data into cloud storages in case something happens to the phone. But more can be done to safeguard your ownership of the phone.
Minimise your headache with mobile insurance plans that can cover expensive repairs and even replace your phone if it’s beyond repair.
Just like how you would purchase insurance for your car or home or even pet, MobileCare from Hong Leong Assurance is an insurance plan that covers your phone in the event of Accidental Damage and/or Liquid Damage. That means you are covered (financially, at least) if you accidentally put both your jeans and your phone in the wash.
MobileCare will cover:
- Accidental damage
- Liquid damage
- Savings on repair costs up to S$1,000
- Phone replacement (if your phone is beyond repair)
- Door-to-door express service
This plan however only covers phones that are less than a year old. For a limited time only, Watsons Members can enjoy 40% off the MobileCare premium at only S$7.70 per month (usual price of S$12.84 per month) for a minimum 12 months coverage. And if you’re a Watsons Elite Member, you would get to insure your smartphone free for 12 months under MobileCare.
Complementing the modern lifestyle, it also offers extended warranty for appliances purchased on your Citibank credit card, all in one plan.
For S$17.20 per month or S$199 per annum, this plan offers:
- Coverage on your personal belongings and offers, such as mobile phone, laptop, sunglasses and much more
- Extended warranty for appliances and new eligible equipment purchased with your Citibank credit card
Other types of protection plans that are not insurance
The mobile service providers in Singapore all offer a kind of Swop and Replace plan when you buy phones with them.
For S$8 a month, swap or replace your mobile device for a small fee with Singtel Mobile Swop — no questions asked. With Mobile Swop, you can either make two swaps or one replacement of your mobile device within 12 rolling months.
Plus, you also get the convenience of backing up and synchronising all your files to the cloud via a free 4GB/mth storage space from Store and Share. So you don't lose any of your data when you swap or replace your device.
SmartSupport provides assistance on all after-sales device issues. For S$10 monthly, replace or swap your device under the SmartSupport basic plan up to two times a year with a same or similar device. Your replacement device will even be sent to you within 4 hours! And for S$12 monthly, get additional tech support every day under the SmartSupport Plus.
This plan offers also a cloud storage of 5GB for user-generated photos and videos, while storage for contacts is unlimited.
FoneCare+ is a value added service offered only to M1 postpaid customers. This S$8.50 per month service allows you to swap or replace your devices for any reason and offers you the flexibility to upgrade to a new handset every year without or with a discounted Early Upgrade Fees as long as you meet the eligibility criteria set out for the services and pay the service request fees.
M1 also provides a mobile app and an online portal that will provide subscribers with 5GB of cloud storage and security features that can locate, lock and create alarms on your phone.
Compared to insurance plans, these plans can only be signed on as a bundle the moment you purchase your phone with them. If you have bought a phone from a retail outlet instead, you will not be entitled to purchase any of these plans.
So, there you have it! These are all the plans that you can purchase to ensure that if anything were to happen to the phone, getting a new one will be as painless as possible.