Are you a South African Broker looking for cellphone insurance or laptop insurance solutions?
It’s really important to us that if a need arises with regard to electronic mobile devices/equipment we will carefully design a product that responds, calculates rates to apply and create the correct supply channels to respond to the Insurance requirement. We find many of our suppliers current supply lines can be improved upon and or easily integrated into our network. We create cellphone insurance solutions!
We create cellphone insurance solutions!
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Cellphone and Mobile Device Insurance: Should you have it? Why It’s Important, and How It Works.
There are a number of ways to look at whether or not your cellphone and mobile devices need to be insured, but one thing is certain: In today’s environment of constant connection and networking, most people need to stay connected.
Facebook, Twitter, Email (whether business or personal) and a host of other apps, programs, documents, schedules and diaries all depend on your mobile device. And…. let’s not forget, the most basic function of most mobile devices, phone calls of course!
Imagine spending even one day entirely without your mobile devices… They’ve become so smart over the last few years almost everybody you can think of has one and uses it to make their lives easier and ultimately, richer. There are so many different kinds of users, but whether you’re a tech junkie, a social media addict, a business user or just need to make phone calls or send SMS’s, your devices are pretty much essential.
Do you need to insure?
Something to consider: all this new functionality and convenience built into our devices comes at a price.
The average price of handsets, laptops, tablets and other gadgets has soared over the last few years due to their increasing complexity and naturally this means that the cost of replacing and repairing them has become an unwelcome extra expense that may be avoided through a good insurance policy.
Something else to consider.
Many users acquire devices and especially cell phones on contract through service providers at an affordable monthly rate. What happens when you lose or damage your device?
Now you have your contract and package benefits (your airtime, bundled minutes, data etc.) and no device. You’d need to replace your device, and chances are, you’d like a similar device, as you chose it to suit your needs in the first place!
This means that you need to consider what your devices are actually worth in the case of damage or total loss.
How it works.
In case you’ve decided that cell phone and/or mobile device insurance is something you need, here are a few important things to think about, to help you make the right choices:
Ensuring your devices are fully covered.
It is critically important to ensure that your device/s are covered for the correct sum. Usually, your insurer or broker will assist you in choosing the correct sum for which to insure. When in doubt, it’s always best to confirm the correct value, as this will affect you in the case of a claim.
Specifying items correctly.
Firstly, when it comes to mobile device insurance, each item that you wish to insure needs to be specified separately. In addition, always ensure that each item’s details are correctly loaded onto your policy, for example, all serial numbers, IMEI numbers, cell numbers, device user details and any other information requested is 100% correctly entered for each device. Once again, this will ensure that processes flow as smoothly as you expect in the unfortunate event of you needing to claim.
Remember that each insurer or broker’s requirements will differ, the point is to ensure that all info is correct and complete, and that all the devices you wish to cover are individually specified.
Find out what’s covered and what’s not.
As with any service, product or contract, acquaint yourself with the standard conditions and terms specific to your agreement. This is especially important in the case of insurance policies, again, to avoid any unexpected surprises.
Each insurer’s conditions will vary, and although all insurers, brokers and other financial service providers are regulated by various laws and the consumer protection act and are obliged to treat clients fairly, it’s always a good idea to know what your conditions of cover are, up front. Some cover is conditional depending on your particular policy.
Sometimes liquid damage is covered, sometimes it’s not. Sometimes your devices are covered when loss occurs at home or in the office but not when it occurs from your vehicle for instance. Make sure that you fully understand these and other conditions that form part of your policy, as these ultimately determine whether you have cover that suits your needs.
Understand the claims process.
Ok, your phone has been stolen, lost or damaged and you need to make a claim. You have the correct cover and you’re fully insured. What is the claims process?
This one is often overlooked and is by far the most important aspect of the process. It’s critical to understand the claims process when deciding on cell phone and/or mobile device insurance. Ultimately, this is what you have insurance for: to stay connected and minimize the impact of your loss.
Ie. the easier and quicker the claims process, the better! In most cases, if your device is damaged, it will be assessed, and either repaired (depending on your policy wording and conditions) or replaced entirely with the same device, or one with equal or greater value. If your device is lost or stolen and you’re eligible for a claim, the same applies (obviously without the repair part!)
When deciding whether or not to insure, decide whether you’re prepared to take the risk of having to replace the device out of your own pocket when bad luck strikes. Understand the full replacement cost, or retail value of your device. Make an informed decision. Assess the policy you’ve been offered. Understand all the terms and conditions. Make sure you supply correct details, according to your policy requirements.
Most importantly, understand the claims process of a company before making a decision. Choose a company with simple, transparent processes and documentation.