Insurance of almost any kind can never be classified as a waste of time or money. However they all serve completely different purposes, therefore it is important to find the appropriate cover for the right purposes. The value of goods is not always clear to owners and so very often some items are treated in a nonchalant manner and are eventually damaged, although they may carry considerable value. Value of all the items in a home can accumulate to a hefty sum. For many people, the net worth of personal possessions in their homes can often amount very closely to the value of their homes. Mobile phones seemingly come under this category. Here we address the issue of your mobile phone being covered by your contents insurance.

What is contents insurance?

Whilst your possessions are in your home, any unintended loss or damage caused to them within the bounds of your home can be covered by home contents insurance. Contents insurance may not restore individual possessions in case of fires or floods but the aggregate values of the items will be reimbursed in such events. Contents insurance applies not only to residents but can cover businesses of all types.

What insurance does my mobile require?

When it comes to protecting your mobile phone from theft or loss, there are two main insurance options available. Mobile phones can either be added to household contents insurance or can be protected by standalone covers. There is no denying the fact that finding the best insurance policy for the latest mobile phone models, which have a replacement cost over £500, is of the utmost importance.

The most common way to insure a handset is to purchase a policy from the mobile phone network provider. Unfortunately many people forget that mobile phone insurance covers can be very expensive and often, wrongly, assume that finding a cheap monthly or pay as you go mobile phone deals means an equally cost-effective mobile phone insurance cover can be found. This is simply not the case. The average insurance costs for smartphones range from £10 to £15 per month, in addition to the price of the tariff and any incurred costs over the course of a price plan month.

Shop around

However, here’s a way we think you could make huge savings and still benefit from great insurance deals for your mobile phone. Take advantage of the many small firms currently offering insurance for smartphones, at almost half the price of their larger counterparts. From some of these firms, smartphones can be covered from just over £5 per month and come without the annoyance of easy get-outs. Your mobile will be covered in all respects, and unlike a with household contents insurance, your mobile phone will be covered at all times, not only when you are at home and the phone is lost or damaged within the home.

Extra household cover

If you feel that you’re already spending a large sum of money on insurance, your mobile phone can be added to your home insurance cover, in the form of an out of home extra which will incur very little extra costs to your current insurance rates. However, some household contents insurance policies include a no-claims discount, which is highly significant because if a claim for your mobile phone is made, your premium could substantially increase.