In this day and age of the smartphone and the iPhone it is more important than ever to ensure you have the proper protection for your device whilst you are out and about. Although your phone operator may offer you some protection as part of your contract there will be allot of other possibilities that they wont cover so make sure you read their terms and any cover they give you fully. Normally they only cover the warranty of the phone and if you are lucky, lost calls following a theft or reported loss from the time you report it, because if they let someone use your phone when they know it is stolen it is their fault.
What they normally dont cover is the actual, theft loss, damage and dropping in water, things that can and do happen and this is where the insurance product can come in usefull. For an extremely small fee a month (separate to your operator) you can take out your own insurance on your device, this insurance tries to fill the gaps left by your operator in what might actually happen, but be warned make sure you read all their terms and the small print. They are in business too, so they put conditions on cover, things you have to do and a timeframe to do it so they can ignore your claim if you dont meet them.
your policy could have a "must be reported to police within 24 hours" or losses must be reported within 2 hours written in and if you dont, they dont pay and you are liable for all the loss including any calls the thieves make! This has come about because my own insurance company sent me new terms, and reading through them they are allot more restrictive than i thought. I cant reprint the whole thing here as i dont have permission but an example would be "Damage to or malfunction of the Mobile Phone caused by or attributed to the operation of a software virus or any other software based malfunction." now the virus bit is normal but the software based malfunction, on most smartphones this is a definate issue you dont have cover for.
The moral is therefore simple, no matter how streight forward a policy looks...ALWAYS READ THE SMALL PRINT...EOL
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