Paying The Insurance is it Worth it

[Anonymous]

Been Pay £12.50 to O2 since Febuary 2012, with £60 excess if damaged lost or Stolen

Oline insurance £6.50 with £60 pound excess if damaged lost or Stole.

Just recently lost my phone in Prague, Reported to the Police over there got a crime number, did every thing right.

Recieved a recondition phone in a box loose (Its a wonder it was not damaged in transit. Then I backed up my phone from I cloud using my data which does not come into the insurance soo was on slow internet for 10 days

Been a loyal customer for 10 years plus. Contract up in Feb thinking of changing provider. What does everyone think

[Bambino]

Some home contents insurance policies or banks cover mobiles. Probably cheaper than what you've been paying. You could explore those possibilities.

[perksie]

I have always thought that mobile phone insurance is a waste of money.

By saving the money I would have spent on it I can afford a new phone more frequently.

[Bambino]

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@perksie wrote:

I have always thought that mobile phone insurance is a waste of money.

By saving the money I would have spent on it I can afford a new phone more frequently.

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I totally agree with you on that one.

[perksie]

Your idea of adding it to your contents policy is a far better and cheaper idea if you must have it.

[Anonymous]

Hi,

Its a shame you couldn't use a WiFi connection to back up from icloud which would have saved on your data allowance.

If you didn't have insurance at all then you would be without a phone, taking into account most high end smartphones are £300 to £500 to buy sim free.

However I'm with the guys on insurance and believing in not needing it.

My phone is pretty much strapped to my person, and always in view.

I dont think its a reason to leave the 02 Network, and if you feel strongly enough then go ahead and cancel the 02 insurance policy.

[Anonymous · Accepted solution]

One word of advice about banks' being 'probably cheaper' - I have insurance as part of my packaged bank account and while its cheaper, the time taken to settle claims doesn't necessary make it better. I wont bother to list all the details of my recent claim with my bank in this forum (but if interested you can see here about my claim here:
www.insurancecompanyreview.co.uk/insurancereviews/lloyds/ ). The point being you should think of the trade off between what insurance costs and what you get in return in terms of speed and ease of claims settlement.

[perksie]

To be fair, that's one claim from one person with one bank, I can't see how you can make a comparison from that.