Tips To Get The Best Mobile Phone Insurance In India

Things You Need to Know Before Buying Car,House, Health & Life Insurance online.

Insurance Buying Tips #1: Shop smart
When looking for insurance, your No. 1 priority should be to find adequate coverage. Price is important, but you’ll want to determine what kind of coverage you need first. Then you can fit that coverage into your budget and determine which carrier can provide you with the most comprehensive policy for your situation. You may be tempted to choose insurance with the lowest price tag, but if you don’t have enough coverage (or the right kind of coverage), you will see less financial benefit when it comes time to file a claim.
Insurance Buying Tips #2: Look for discounts
Once you evaluate your coverage needs, factor in your budget and find ways to save. Ask your insurance agent if there are any discounts on your coverage. Often, carriers offer discounts for things like paying your policy in full, staying auto accident-free or, if you’re in school, getting good grades. You also can save money by “bundling” multiple policies, such as purchasing a home and auto policy from the same carrier.
Insurance Buying Tips #3: Fill in the gaps
An average policy will cover the basics, but you may need to add extra coverage to meet your unique needs. For instance, you may have items like electronics or a nice piece of jewelry that would be financially difficult to replace, even with the assistance of your average renters or homeowners policy. You may want to add additional coverage for these items.

Today, the information technology sector in India is considered to be the most progressive sector in India, and over the last few years it has rapidly developed. Now, one can find a mobile phone in nearly everyone's hands from a young student to an elderly individual or businessman. The use of mobile phones is rapidly spreading to small towns and even villages wherever the telecom companies have provided networking facilities. The result is that the Indian mobile industry has become one of the largest industries not only in India but also across the globe. A study reveals that approximately 15% of mobile users in the world are from India.

In the initial stages, the technology of the mobile phones and their prices weren't high. So, the users never thought of insuring their mobile devices. Neither the insurance services were available for insuring mobiles. However, now the situation has entirely changed. One can see that along with the low priced mobile phones, the quality and highly priced smartphones, tablets and laptops are available in the market. Due to this, the occurrence of theft, damage and loss of expensive smartphones and other devices has increased. Consequently, some of the insurance companies have expanded their scope of insurance business to include mobile phone insurance. Today, some of the top manufacturers of smartphones are joining hands with one or the other insurance companies to insure their products. Few of the mobile manufacturing companies and some of the insurance companies have tied up to offer mobile insurance to their clients.

Insurance Buying Tips #4: Purchase life insurance—you aren’t too young
Life insurance is essential, no matter how young or old you are. And for millennials, buying now may be a smart move because it’s cheaper to buy a life insurance policy when you’re young and healthy. This kind of insurance can help your family cover unexpected costs in your absence, including student loan debt or a mortgage, in addition to end-of-life costs. And if you have kids, a life insurance policy can also support their education or childcare expenses. Additionally, every millennial should consider long-term disability coverage, which helps you stay afloat financially if an accident happens and you become disabled and unable to work.
Insurance Buying Tips #5: Talk to an independent agent
An independent insurance agent is an essential resource when purchasing insurance—especially if this is your first time. An independent agent works with multiple different carriers, which is different from captive agents who can only sell insurance from the carrier they work for. Working with an independent agent can help make sure that you are getting the best coverage, for the best price. You’ll also benefit from independent agents’ insurance knowledge; they know how to talk you through your options and actually explain what each policy includes. An independent agent will make sure all of your assets are covered, help you find discounts or other ways to save, and be a valuable resource as your life changes and your insurance needs change, too.
Insurance Buying Tips #6: Only buy insurance to maintain your existing standard of living
You don’t need insurance for events that won’t severely strain your finances. Start with your basic needs (home, auto, business), then work your way to include other needs (cyber, liability). You can always obtain coverage later for something if you change your mind. You can minimize your risk and maximize your savings by buying insurance that won’t cause you to break the bank.

Why is Mobile Insurance Cover Necessary for your mobile phone?

There is a term 'CRAVED' which is very important in this context. This specific term is an acronym used for the words 'Concealable, Removable, Available, Valuable, Enjoyable and Disposable'. The thieves of mobile phones can easily conceal them and they can take out the original SIM and replace it with their own SIM. So, they can easily use the phone without any fear of being caught. Even if they don't intend to use the phones themselves, they can easily dispose the smartphone in the recycled mobile markets. The insurance for your smartphone becomes all the more vital, when you come to know that over 25 lakh mobile phones are stolen or lost nearly every month. Stealing the smartphones is a profitable source of income for thieves who can dispose them off easily at good prices. Thus it's essential to insure your expensive smartphones these days.

Some distributors and dealers help you enrol for an appropriate insurance plan when you buy a new mobile from them. You can also get in touch with the offices of an insurance company in your city and find out the details about the policy related to your iPhone insurance. You must keep the original receipt of the purchase safe to process the claim, if any. The partial losses or damages would be paid such as the cost of repair charges without depreciation on parts replaced and for loss or damage.

Insurance Buying Tips #7: Ask your insurance provider what the policy doesn’t cover
Every insurance policy has perils that are not covered by your policy. These perils are referred to as “exclusions”, and every policy has them. Ask your insurance provider to explain the exclusions in your policy to avoid discovering what they are once you incur damages or a loss.
Insurance Buying Tips #8: Consider bundling several policies with one insurance carrier
here may be value in bundling several policies with one insurance carrier. If you’re looking to insure multiple vehicles or obtain multiple types of business coverage (e.g., liability, property, cyber), then you may want to consider obtaining coverages under one insurance provider who carries multiple products, and who may be able to offer you multi-policy discounts or loyalty programs.
Insurance Buying Tips #9: Review your insurance needs on a yearly basis
As your needs evolve, so will your insurance policy. Maybe you’ve acquired a new vehicle since obtaining auto insurance for your primary vehicle, or started operating your business out of your home, or experienced a cyber-attack during the year… Whatever the change(s), you’ll want to make sure you’re covered for any new risk exposures. Talk to your insurance provider to stay on top of your insurance needs.
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