Mobile Insurance Companies in India 2020
Everyone knows about term insurance and health insurance when they hear the word insurance. Have you ever heard of mobile insurance? What do you think is the insurance for a phone covers — screens, theft, liquid damage? All covered below.
Mobile insurance covers accidental damage, liquid damage and theft — the three things a manufacturer warranty explicitly excludes. Premiums in 2020 run roughly 5–8% of the phone's value per year.
Who offers it in India: dedicated device insurers, add-on plans sold at purchase by major retailers, and rider plans from general insurance companies. Compare the claim process before the premium — a cheap plan with a slow claims desk is not cheap.
Rule of thumb: insurance makes sense for phones above ₹30,000 in the first two years. Below that, a good case and screen guard beat the premium math.