Mobile phones are convenient for keeping in touch with family and friends at any given time. However, loss or damage to the mobile phone also happens as easily and an estimated 15,000 mobile phones are lost, stolen, or damaged every month in the UK. Mobile phone insurance can be beneficial under various circumstances, especially if you are using a high-end phone or have teenagers who generally tend to lose or damage their phones.

Mostly you get your mobile phone free of cost with the phone plan, but in case of loss or damage, the service provider will not replace it free of cost. You will have to pay the full cost of the phone to get a replacement and continue with your contract. Moreover, if the phone is stolen, you face the risk of someone making calls using your phone, which you will be liable to pay. With mobile phone insurance, you will be covered against such losses. However, consider the cost of your mobile phone vis-à-vis the annual insurance payment before you decide to opt for mobile phone insurance. It would be a good idea if you can obtain a single mobile phone insurance cover for a couple of phones that your family uses, because that way you pay a lower premium and have all the gadgets covered.