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Why do I need iPhone insurance and what does it cover?

We all love buying a new mobile phone, and if it’s an iPhone then it’s even more exciting! With their striking looks, a camera that gives Instagram-ready shots every time, and the best tech specs around, there’s a lot to keep you happy with your new purchase for months to come. Not to mention all those beautiful Apple accessories and gadgets that work perfectly together.

However, with today’s flagship iPhones costing over £1,000 in some cases then theft, loss, breakdown or damage could end up costing you a small fortune. If you don’t have the right iPhone insurance that is!

Whether you’ve bought a trusty iPhone 7 or the eye-wateringly pricey 512GB iPhone 12 Pro Max you might be wondering whether you really need iPhone insurance and what it covers. If that sounds like you, then read our guide to help answer your insurance queries. After all, the question might not be whether you can afford to insure your phone but whether you can afford not to!

When you’ve chosen a phone, always give Gadget Cover’s team of insurance specialists a call so they can have a no-obligation discussion about your options to protect your gadget.

Cracked iPhone

Why do I need iPhone insurance?

If you’ve not long bought a new iPhone, then there’s no doubt you’ll have been asked if you wanted to buy insurance to cover it. When you’re making such a large financial commitment to a new phone this is clearly a question that requires some careful consideration.

The answer very much depends on what your attitude to risk is and your current money situation. So, try asking yourself the following questions:

  • If my iPhone was lost, damaged or stolen, could I afford to repair or replace it?
  • If I had to repair or replace it, could I still afford to pay for everyday essentials?
  • Would I be happy using a cheaper or older model while my iPhone is being repaired or until I can afford to replace it?
  • Do I own the iPhone outright or have I bought it on a contract? If you’re locked into a long-term contract, you’ll still have to make the monthly payments even if your expensive iPhone is lost or damaged!

You should also be honest with yourself about your iPhone usage. If you think you might be what is considered a 'higher risk' phone user, you probably have more need for protection than others. Ask yourself:

  • Do I have a history of lost, stolen or broken phones?
  • How do I plan on carrying my iPhone? Slipped into my coat pocket or in a secure, zipped bag?
  • How do I plan to use it? Will I be taking it on my snowboarding holidays to far-off locations? Or do I tend to stay closer to home?
  • Will other family members be using my iPhone?
  • How much do I rely on my phone? If you use it for work, do you need an instant replacement if it was lost, stolen or damaged?
  • Do I love buying the latest iPhone accessories too? These can be very expensive, but could be covered if they are lost, stolen or damaged at the same time as your iPhone.

Unfortunately, unless you’ve discovered a fool-proof way of never losing, breaking, or having your iPhone stolen (and please let us know if you do!) then insurance is a necessary part of buying a new iPhone. But remember, getting to the best insurance is easy and straightforward if you give Gadget Cover’s team a call.

What does insurance cover?

When it comes to choosing the best phone insurance policy it’s important to remember that not all policies are created equal. Insurers will try to deliver the best insurance policy for a whole range of devices, requirements, and budgets – there’s really no one-size-fits-all solution. That’s why it’s so important to speak to the best specialists in the business to get it right.

It’s always worth investing in the best insurance you can afford – if you have too little cover then you could lose out if disaster strikes. The best insurance should cover you for things like:

  • Accidental damage
    Repairing or replacing your iPhone if it’s damaged in an accident is vital. Some insurers like Gadget Cover will even repair minor screen cracks.
  • Liquid damage
    From splashes to full immersion, there’s a whole variety of ways your iPhone can get damaged by water!
  • Breakdown
    If your iPhone suffers a malfunction this can be a lifesaver.
  • Unauthorised usage
    When an iPhone is lost or stolen unauthorised calls and data charges can cost you an arm and a leg. Some insurance policies will reimburse you for these.
  • Theft
    Unfortunately, those eye-catching looks make iPhones very desirable for thieves.
  • Accessories
    From wireless AirPods to the latest MagSafe iPhone cases for faster wireless charging, Apple makes great accessories to complement your iPhone. But if something happens to your iPhone, what about those costly accessories that were with it?
  • Travel abroad
    Who doesn’t want to live the jet-set lifestyle? With an iPhone in your carry-on bag, you can go anywhere and do anything. Just make sure you’re covered wherever you land.

Expect to pay extra to cover loss. And look for other popular benefits such as family cover or e-Wallet cover – every little extra can help add up to a winning insurance offer!

What does insurance not cover?

Clearly you really need to read the terms and conditions of any policy before signing up. There can be many clauses and exclusions which might impact any future claim.

Here are some of the more common ones to look out for. You may not be covered:

  • If you bought the iPhone over 6 months ago – although Gadget Cover will accept mobiles up to 18 months after the purchase date.
  • For the first two or three weeks of the policy.
  • For iPhones not bought from a major retailer. For example, if you bought your iPhone off an auction site you might find it difficult to get cover.
  • If your iPhone has not been used since the policy started.
  • If you try to modify your iPhone, and it gets damaged in the process.
  • If you have to leave it in your vehicle.
  • If the iPhone is stolen from a vehicle or property where there is no visible sign of forced entry.
  • For unattended theft. Perhaps you left it on a train seat or a café table when it went missing.
  • If your iPhone’s IMEI number has been tampered with.
  • If you don’t have the IMEI number. Some insurers will specify that it needs to be displayed on the shop receipt.
  • If there’s no SIM card or not the original SIM card. For example, you might not be covered if you’ve changed network providers and inserted a new SIM card, or you’re temporarily using a different handset. If you happen to have a sim only contract on your phone, check out our pros and cons of sim-only contracts on our blog.
  • If your iPhone has been infected with a virus.
  • For data including contacts, downloads and photographs. That’s why it’s so important to back up regularly.
  • If you've lost your proof of purchase or receipt.
  • If you weren't showing reasonable care. For example, it was left on the roof of your car and you drove off. Water damage can often be excluded under this clause.
  • If you’ve failed to report the phone as lost or stolen to the police and the insurer within a specific time limit such as 24 hours or less.
  • If it’s a young persons’ iPhone. Some insurers won’t cover a teenage son or daughter’s phone.

Water Damage

How much does iPhone cover cost?

There is a huge variety of prices as providers seek to create options suitable for many budgets. Insurance can cost anywhere from under £5 to up to £15 per month or more, but this depends on the iPhone model, the level of cover offered and any additional extras.

Also, just like with any insurance, you'll need to pay an excess if you do claim. For iPhones this is usually anywhere from between £50 to £125 so you'll need to factor this into your calculations. Most phone insurance policies require this excess to be paid immediately before your handset is repaired or replaced.

And when it comes to price, bear in mind that you need to take value into account. After all, it’s no use getting the cheapest insurance around if it lets you down when you need it most!

What should I check beforehand?

It’s so important you double-check that the policy you choose has the right cover for your needs. Points that it’s also worth checking are when the cover begins, whether there’s a limit on the number of claims per year, and how much the excess is.

When looking for the right iPhone cover, it’s worth considering whether a multi-device policy might be better for you. Providers like Gadget Cover include iPhones within their gadget insurance cover along with laptops, smartwatches, cameras, tablets and much, much more.

Some types of premium bank accounts or home insurance policies include cover for your iPhone as well. However, while these can seem simple and cost-effective at the time, they often come with significant downsides. For example, they might only cover the iPhone when it’s at home, they might have a higher excess, and their often-lengthy claim processing could leave you without a phone for a longer length of time. Also, if you do make a claim under your home insurance, it might affect any no-claims discount when it comes to renewal.

Finally, if you’re considering opting for Apple’s own home-grown cover AppleCare+ then be aware that while it covers your phone for damage it may not cover you for loss or theft. So, you could be left underinsured in many circumstances.

Ideas for keeping your iPhone safe from harm

Stopping your iPhone from getting lost, damaged or stolen in the first place is a far more preferable option to having to make a claim on your insurance.

One of the best ways to do this is to invest in a case and screen protector. Undoubtedly the number one way to protect your iPhone from damage. After all, while iPhones are built to last, they aren’t indestructible. And after you’ve spent a small fortune on the very latest Apple wonder-gadget there’s nothing worse than hearing it smash to the ground, or crunch in your back pocket.

Investing in one of these amazing screen protectors and phone covers will give your iPhone a much better chance of surviving the daily hazards of modern life. When it comes to protecting your iPhone then there’s no reason to delay.

Theft is another risk for iPhones so make life difficult for thieves and hackers through these five top tips:

  1. Turn on Find my iPhone to help you locate or disable your iPhone once it’s gone.
  2. Keep your iPhone locked and protected with a secure password.
  3. Keep your iOS up to date to ensure all the latest security patches and upgrades are downloaded.
  4. Install antivirus software and beware of dodgy downloads.
  5. Keep up to date on the latest phone scams and advice from the Metropolitan Police and Ofcom. Both have issued invaluable guidance on what to do to protect yourself from such scams.

Protect your new iPhone with Gadget Cover

Whatever model of iPhone you buy, Apple is considered to make some of the best devices in the world. So, you’re certain to be very happy with your purchase. That’s why the team at Gadget Cover are always searching for the very best iPhone insurance policies suitable for your device, requirements, and budget.

we offer include protection against accidental damage, liquid damage, theft, breakdown and unauthorised usage as standard. And for an extra premium, your iPhone will be covered against loss, too.

Additional benefits include family cover to extend protection to your immediate family, worldwide cover to include use of your iPhone anywhere in the world, and e-Wallet cover up to £500.

Get a quote for iPhone insurance from Gadget Cover today.

Policy benefits, features and discounts offered may very between insurance schemes or cover selected and are subject to underwriting criteria. Information contained within this article is accurate at the time of publishing but may be subject to change.

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