iphone insurance in UK

Discussion in 'iPhone' started by bonecracker, Jun 25, 2009.

  1. bonecracker macrumors member

    Feb 5, 2008
    Has anybody used this insurance company for insuring your iphones, it seems quit cheap for £49 for a year, O2 is quit expensive.

    The company name is Loyal insurance
  2. Phil A. Moderator

    Phil A.

    Staff Member

    Apr 2, 2006
    Shropshire, UK
    It is cheap unless you make a claim! I'm insured through O2 which now costs £10 per month (£120) per year. On the face of it, that makes it £70 pounds more per year cheaper.
    However, according to the terms and conditions of the loyal insurance there are the following differences:

    1) The Excess is £80 (£25 for O2)
    2) They don't insure you for first 60 days (which means your £49 is really only covering you for 10 months in the first year)
    3) You have a maximum of 2 claims per year (unlimited on O2)

    Also, with the O2 insurance, you get ease of replacement: If your phone is damaged, you just phone them up and they send out a new phone. Another benefit of the O2 insurance is you are also covered for £200 of accessories (so if you have an expensive case on your phone and it gets stolen, it's also covered) and £3000 of unauthorised calls

    So, if you never make a claim on your insurance, the Loyal insurance is much cheaper (but then, not buying any at all would be even cheaper!).
    If you make one claim, O2 works out about £16 more for the year (£120 + 25 excess vs £49 + £80 excess).
    If you make more than one claim, O2 is much cheaper due to the high excess on the Loyal Insurance
    If you are unfortunate enough to make a claim in the first 60 days, you've thrown your money away with Loyal Insurance

    Personally, I'm happy to pay the bit extra for the convenience of O2s insurance
  3. bonecracker thread starter macrumors member

    Feb 5, 2008
    Thank you very much for your advice, much appreciated might get o2 insurance still pondering if it is worth it though
  4. Caris macrumors 6502a


    Sep 25, 2006
    Newcastle Upon Tyne, UK
    I've used O2's insurance twice, it's excellent. Ring up, explain you dropped your phone or whatever, receive a new sealed one next day.

    That's it!
  5. tico24 macrumors 6502


    Jun 17, 2007
    Eastleigh, UK
    Don't get the o2 insurance.

    I've not once see them actually pay out for a replacement. They always find some loophole to get out of it.

    You're better off just putting the phone on your home contents insurance. My phone is covered for theft, accidental damage and if someone tries to call outer mongolia and racks up a huge bill on my contract.
    The excess is £25 and I didn't have to increase my annual payments at all.
  6. Stiss macrumors 6502a

    Apr 18, 2009
    So i have o2 insurance, does that mean even though my iPhone is PERFECT i can ring up and get a new one regardless :p

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