UK iPhone 5 Insurance - Complications

Discussion in 'Buying Tips and Advice' started by Superman041, Dec 16, 2012.

  1. Superman041 macrumors 6502

    Jul 16, 2011
    Which is the best iPhone 5 insurance in the UK ?

    This company insure and go (platinum) insurance will cover for phones with a max value of £500 . The iPhone is £529 .

    "The maximum liability of the Insurer in respect of any one claim will be the replacement cost of the Product and in any event shall not exceed a total claim limit of £500 inclusive of VAT and £50 inclusive of VAT in respect of any accessories following a valid claim and an overall maximum policy limit of £2,500 irrespective of the number of Product items involved in the claim incident. Should Your original Product no longer be available, the Insurer will replace it with the nearest functionally equivalent model."

    Say if I had to get a replacement, would they replace it with an iPhone ? Considering its £29 over the max value ? Would it be ok to pay the excess £29 ?

    Another insurance company insure 2 go . State this
    "Replacement Equipment
    In the event Your claim is authorised and Your handset is replaced, we will endeavour to replace it with an identical new or fully refurbished handset. Should this not be possible the Administrator will replace it with a new or fully refurbished handset of a comparable specification or the equivalent value."

    I'm worried, that if I had to get a replacement with this company, they would give me a handset other than an iPhone if "its no possible" to replace the original phone.

    Thoughts ?
  2. gnasher729 macrumors P6


    Nov 25, 2005
    1. Call the insurance company and ask them. Even better to get things in writing. Finding out when about insurance details when you need them to pay is a bad time. "Phones with a maximum value of £500" seems to say that a phone for £529 isn't covered at all.

    2. The only case when it would "not be possible" to replace an iPhone is if Apple stops building them. In that case, yes, you wouldn't get an iPhone if Apple stopped building them. This is let's say unlikely.
  3. theluggage macrumors 68040

    Jul 29, 2011
    Rule one: never insure what you can afford to lose.

    By all means check that your household insurance covers at least part of it in the event that your house burns down or gets burgled. There may be an economical option for extended cover on high-value items. If you go on holiday maybe check that its covered by travel insurance.

    ...but individual insurance for gadgets? Money pit (esp. given the propensity of insurers to wriggle out of paying if they can possibly avoid it). If you think you're that likely to lose/break your phone, don't get a top-of-the-range smartphone.
  4. Superman041 thread starter macrumors 6502

    Jul 16, 2011
    I've just seen this in one of the companies T&C's .. I don't understand it !

    " All electronic equipment reduces in value over time. To reflect this, where a
    piece of electronic equipment is replaced following a valid claim, we will reduce the benefit under this policy on a sliding scale applied at a rate of 10% per year from the end of year 2, up to a maximum of 70% reduction in original cost for electronic equipment of 9 years or older."
  5. Brian Y macrumors 68040

    Oct 21, 2012
    I get my insurance with my Amex card. Check out their "essentials" program - it's £10 a month and covers all my gadgets, and every phone in the household (including my families). It also has no excess. Well worth it in my opinion (when I lost my 4S in a taxi, they next day shipped a new one to me at no cost).

    Plus you also deal with Amex's "bend over backwards to help" customer service instead of some crappy insurance rep who's trained to deny claims.

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