Not long ago in India, cellphone insurance policies were not much familiar to the masses. Nonetheless, for the past few years, mobile phones have evolved a lot and come up with premium features. Also, high-end phones like the iPhone from Apple have become one of the top-selling brands across the country. According to the record, the number of iPhone users in India is near about 12 million as of January 2020. However, such expensive purchases need to be insured and protected from any further unexpected costs due to damage.
Therefore, most buyers also purchase an iPhone insurance policy along with the device. These insurance plans not only cover the display, an expensive component but also bring about different benefits with them. Following is an elaborate discussion on insurance policies for iPhones.
Importance of an iPhone Insurance Plan
When buying an iPhone, individuals also get an extended warranty from Apple, the manufacturer. As per the mentioned terms and conditions, this warranty covers manufacturing defects and any hardware breakdown. Nonetheless, any expense as a result of accidental damages, like lax usage or burglary, is not covered.
Thus, users carry the risk of uncertain expenses all along. However, an Apple iPhone insurance plan can financially protect the device from financial losses sustained due to accidental breakage or damage due to other unpredictable incidents as well.
The Best iPhone Insurance Policies in India
A handful of insurers present several phone insurance plans for iPhones in India. Each of these plans has a variety of features beneficial for policyholders. Thus, individuals need to gain a comprehensive idea about the features an ideal iPhone protection plan should come with.
Below is a list of advantages that individuals should look for to arrive at the best insurance policy for an iPhone.
Coverage for Damage or Loss Due to Accidents
One of the noticeable aspects of buying an insurance policy for the iPhone is to avail coverage for the damage cost because of unpredictable events. These incidents can include screen damage or breakage caused due to dropping off of the phone or other sudden events. Depending on the insurer, policyholders can avail a claim amount of up to 100% of the base invoice value.
When looking for the best iPhone insurance India, individuals can choose Bajaj Finserv who provides a Mobile Screen Insurance policy under Pocket Insurance & Subscriptions with coverage up to 100% of the bill amount.
Protection Against Damage Due to Natural Calamity
Reputed insurance companies also offer financial protection to the phone screen from natural calamities like earthquakes, floods, storms, etc. Moreover, any damages or loss to the screen due to an explosion, fire, lightning, etc. can also be covered under phone insurance India.
However, insured individuals must be aware of the fact that these protection plans are exclusively for the iPhone display. So, if any damage occurs to phone accessories like a charger, individuals have to pay for its repair replacement from their pocket.
So, iPhone users can also purchase a mobile charger insurance plan to cover its damages financially.
Along with purchasing an iPhone insurance plan, policyholders can also obtain coverage for replacement or repair expenses incurred due to mechanical or electrical malfunctioning of the phone’s display. However, while selecting a plan, individuals must read through the norms regarding breakdown coverage mindfully.
Robbery or Burglary Coverage
An Apple iPhone insurance India can also cover financial losses arising out of screen damage because of damages sustained due to unpredictable events like theft, burglary, etc. at the insured premises. Therefore, when signing up for an insurance contract, individuals should look for this clause for maximized benefits.
Cyber Threat Protection
Most of the well-known insurance companies provide cyber threat coverage along with phone protection plans. These types of coverage features are useful to protect against cyber threats like data privacy, malware, and virus attack. Additional features of the coverage plan include finding phone location, SIM card blocking, etc. during emergencies.
However, it may not provide coverage for fraudulent transactions on debit or credit cards. So, with the increasing online monetary transactions, individuals should consider investing in a wallet care plan as well that can provide such coverage benefits. Based on the insurer, this wallet insurance plan can protect against financial fraudulency of up to Rs.2 lakh.
Easy Purchasing Process
Moreover, individuals should also pick insurance providers who can facilitate a hassle-free purchasing process. Buyers can consider online insurance policies that are available only against essential documents like KYC, invoice copy of the iPhone, etc.
Simple Claim Raise
These days, insurers have also come up with a simplified claim process to enhance their market reputation. Insured individuals can raise a claim within 24 hours of the event by calling or sending an email to the authorized representative of the insurer. Moreover, a filled-in claim form along with an elaboration of the incident, assessed claim amount, invoice of replacement or repairing amount, FIR copy in case of theft, etc. are necessary to initiate the claim procedure.
Nonetheless, depending on the insurance provider and the claim amount, the documents can change.
So, these are the factors that individuals need to look for in the best iPhone insurance policy. After assessing the premium and the coverage benefits, individuals can invest in an insurance plan for their iPhone.