Have you insured your iPhone?

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By Andy Mackay
Know Your Money Editor

Since its introduction in 2007, the iPhone has changed the face of the mobile phone industry - becoming instantly popular and going from strength to strength with each new generation.

The touchscreen smartphone has caused the word 'app' to become part of the vernacular and expanded the range of functions available to users beyond what many would previously have thought possible.

Those who own an iPhone typically consider it to be one of their most useful and prized possessions and some would never dream of going back to a regular mobile, but what if something were to go wrong? Insurance is an important aspect of virtually all walks of life and with the iPhone has come products specifically designed to cater for accidents and loss.

What are my options?

Many mobile phone companies will offer iPhone insurance at the point of sale, but this is not necessarily the best option and a comparison of online insurers can yield a number of cheaper alternatives.

What many people do not consider, however, is that their bank will provide a range of insurance options. In some cases, current accounts will include cover as an added incentive for customers, although iPhones are not necessarily accounted for under standard home contents or mobile phone policies so it is important to be clear.

In any case, iPhone insurance should at the very least cover the likes of theft and accidental damage - and you'll want to make sure you can get a like-for-like replacement in either event.

But do I really need it?

Last month, insurer Protect your bubble released a list of the most common problems faced by iPhone owners - as well as the most bizarre claims it has seen.

A cracked screen was number one, followed by devices being stolen while a person is texting. At number four, "leaving phone on the car roof so it falls off when driving" is perhaps a surprisingly frequent complaint, coming much higher than a frozen screen or problems caused by being dropped in the bath or toilet.

However, one claim was made after an iPhone fell into a kettle, while another owner dropped one from a hot air balloon. "It broke when my son used it as a table tennis racket" and "I accidentally buried it in the garden" also made the list of peculiar explanations and a spokesman for Protect your bubble observed: "With so many people carrying an iPhone with them wherever they go, it's no surprise that they are being lost or damaged in a host of unusual ways."

While some of the reasons might be rare, a claim itself is clearly not - as the firm's survey revealed one in five users have had to make one in the last year. Accidental damage accounted for 45 per cent of problems - proving it's not just theft that people need to worry about.

"The amazing ways people manage to be separated from their iPhone goes to show that you never know what's around the corner - and it pays to get your iPhone insured," the expert concluded.

Students - top targets for thieves

At this time of year, thousands of students are heading back to university - or embarking on the adventure for the very first time - and the vast majority will be bringing some sort of gadget.

Indeed, a survey by student insurance provider Endsleigh revealed the average undergraduate could be carrying £1,300 worth of goods with them when cycling into uni, if they bring a laptop, mobile phone, MP3 player, books and a watch.

With six per cent owning an iPhone, cover may be essential as students are notoriously major targets for opportunistic thieves. Spokesperson for Endsleigh Vicki O'Connell observed dorm rooms are becoming more technologically advanced, a trend that is increasing security risks.

"As lifestyles become more mobile the 'must-have' items become more portable. Our research shows just how easily the value of your possessions accumulates," she said. "It's important to remember that items which are lighter and smaller are also more prone to loss or theft."

Important Notice
This guide is intended for general information only and is not intended as, and does not constitute, any form of advice, recommendation or endorsement by us of any particular product(s) or services and you should rely on your own further research and professional advice in relation to your specific requirements and circumstances before purchasing any products or services. Use of this guide is subject to the Terms of Use of the KnowYourMoney site.