Why do you need a mobile phone insurance? Or why does anyone need a mobile phone insurance, anyway? These are certain obvious questions that come to the users mind immediately when anyone mentions the importance of phone insurance. The answer to this lies in what kind of cell phone the concerned user is using and for how long?. Also, to be taken into consideration are the facts such as how organized or otherwise the customer is and what are the chances of his or her mobile phone handset getting lost, damaged, or stolen.

Mobile insurance, though still an emerging concept is slowing getting entrenched and the valued customers are also slowly but surely veering down to the fact that, may be, it pays to have their handset covered under some kind of insurance protection.

The numbers of phone insurance companies are also on the rise and now you have a good number of them offering sound and healthy compensation to users who do tend to lose, get their devices nicked or even suffer theft of the same.

The companies the offer insurance for your phone handsets conduct themselves differently from your standard life insurance or non-life insurance companies. This is because the mobile phone companies do not take the condition of your handset when it was nicked or misplaced that seriously. Most of them simply have fixed a annual premium account and if they are convinced that what you are saying is even remotely true, they will compensate with a replacement handset within a few days.

The premium charged, normally lies in the region of £ 70 to £ 100 per annum.

The risk aspects lie in the fact that the person who happens to find your mobile phone is likely to misuse it totally.

Obviously , you will be required to foot the bill. Secondly, those users, who have signed into a cheap contract phones deal are liable to pay the balance monthly instalments irrespective of the number of months pending. This means that a handset that was got under a two year contract deal and lost after six months will require the user to pay the monthly instalments for the remaining period of 18 months. This will be really bad.

Isn’t it?

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