Mobile phones are the latest entrant on the insurance bandwagon and several companies offering mobile insurance with various levels of service have sprung up.

Just as all your expensive and valuable assets need insurance, so do mobile phones. And rightly so, as these palm-sized gadgets are almost like your personal secretary, getting you connected, holding so much information and data as well as entertaining you with music and video clips.

However, this is an added expense, which many people would want to give a miss. But wait! With so much competition, providers keep offering incentives to get as much business as they can. These are extremely beneficial to the consumer, who has to pay much less for the service.

Some companies will offer you a couple of months free worth of mobile insurance, others will have a fixed rate for all types of mobiles and yet others will you hefty discounts if your mobile phone has not been damaged or lost during the period that you hold the mobile insurance policy. Look for the no-claims bonuses that many companies offer.

Besides, you may get free vouchers on sign up, online discounts and an additional discount if you pay the annual premium upfront. You could also get further discounts if you ask for mobile insurance for more than one phone. You could have the mobile phones of your family members insured too, all under one plan.

Before you choose your provider, make sure to check all such features as well as what the insurance covers, how long they would take to replace or repair your handset, and what if you want to cancel the policy at any time. A company that satisfactorily gives you these answers could be your ideal mobile insurance provider.