The smartphone market in India is growing vastly with lots of new OEMs entering the highly competitive market. With so many devices available in each segment, mobile phone market is expanding rapidly and people are willing to invest even in high end devices. But there are high chances that you end up losing your high end smartphone in public transport or gets stolen or lost. There can be even chance of accidental drop or even water splash. So how to protect your device in such situations?
Typically when you buy a smartphone or a tablet, the manufacturer provides one year of warranty, beyond which you are left on your own. Some manufacturers do provide extended warranty plans, but theft and damage by liquids are generally not covered in such warranty plans.But lately, for those of us who tend to mishandle our electronic toys, there is a new kind of protection in the market: insurance for mobile phones. So, how about getting an insurance for your mobile device!
Syskagadgetsecure has recently started their niche mobile insurance services with a tag line: “Whenever life happens, you remain unaffected”.As of now, their premier offering is: ‘Gadget Secure’ wherein you can get complete security and protection against accidental damages, water/fluid damage, theft, burglary and fire damage. Additionally, they also provide anti-virus solution and free pick-up/drop of your gadget from your home in case any repairs are necessary. Depending on the price of the mobile, they have introduced 5 different plans; one of which is exclusively dedicated for Samsung Mobiles. All other plans are dependent on the price of the mobile. For example, if the price is between Rs 4000 to Rs 10000, then you can choose Rs 599 / year plan and so on. The maximum plan is for Rs 1999 / year for mobile costing between Rs 25001 – Rs 60,000. Syskagadgetsecure has created an exhaustive list of policies governing their mobile insurance plans. Included are the exclusions under which you are not eligible for any warranty. You can find the complete list of their policies here.
Geek Squad smartphone protection plan is offered through Best Buy, but is also available for smartphones purchased at other stores, provided that the products have been purchased within the last 30 days, are covered under a current manufacturer’s warranty, and are in new and working order. What makes this plan stand out is its convenient in-home service and its lack of deductible and cancellation fee. However, loss and theft are not covered.
Geek Squad’s Standard Plan extends your manufacturer warranty, but doesn’t cover much on its own; we recommend purchasing the Accidental Damage from Handling Coverage (ADH) plan for the best protection.
Optus offers two different insurance options for its customers, standard insurance for cheaper phones and Smart insurance for premium priced smartphones.Optus Mobile Insurance is only available when purchasing a new mobile from Optus and is provided by Optus Insurance Services Pty Limited.
GadgetCops is one of the earliest providers of extended warranties and protection for smartphones and other electronic gadgets. Their plans offer comprehensive covers and also include many value added services. They typically offer smartphone protection and extended warranties for two years, and promise repairs or replacements for all kinds of mechanical or electrical faults. You can also avail of cashless service, where the company will bear the cost of all repairs at the service center.
AppsDaily provides you with phone insurance which covers theft, burglary, physical and liquid damage. It will also safeguard your phone against viruses that slow down your phone and compromise your data. The basic pricing of this service is Rs 599 and goes up to Rs 2499 for high end devices. Apps daily is compatible only with Android devices.
OnsiteGo provides comprehensive insurance and extended warranty cover for smartphones, tablets, laptops and digital cameras. Laptop insurance is a completely separate niche, which has entirely different set of rules and regulations. We will only focus on the insurance provided for mobiles and gadgets. Established in 2010, OnSiteGo is based in Mumbai and provides their specialized ‘on the site’ support for your gadgets. The extended warranty for your gadgets will include typical faults such as hardware failures, malfunctioning touch screen, errors in WiFi antenna etc. As they are specialized in onsite service, they will pick the defected smartphone/tablet, repair it at the authorized service centers and then deliver it back at your doorstep.
The insurance cover provides compensation equivalent to the the cost of replacement of the instrument by a new instrument of the same specification and same capacity, including all taxes and duties.