Mobile phone insurance is like any other insurance policy that seeks to compensate the policyholder according to the terms and conditions of the plan that they choose and pay for. However, this insurance cover differs from the rest in that it does not require a long application form to be filled in. All you need to submit (in general) is the proof of purchase and you are approved for insurance.

Though most mobile phone insurance policies are broadly the same, the incidents covered by could vary from provider to provider. Most policies cover the following:

Accidental damage: If there is any physical damage to the handset, accidental damage covers it.

Water damage: In this case if your mobile handset has been damaged because of water or any other liquid.

Loss cover/Theft cover: Replacement if you lose your phone or if it has been stolen.

Fraudulent calls: This is beneficial in cases of stolen mobile phones where the service is misused and you end up receiving hefty bills.

Extended warranty: Your phone will be repaired even the manufacturer’s warranty expires.

International cover: If anything goes wrong with your phone or if it is lost or stolen while you travel abroad, you are covered if you opt for this policy cover.

Like for any other policy, ensure you read the fine print on your mobile phone insurance policy application and opt only for what cover you will really require.