Why does anyone need Mobile Phone Insurance or MP3 Insurance?
Many people choose to insure their Mobile Phone because often the handsets are heavily subsidised by the contract agreement they sign up to. So, although they might get a handset cheaply or even free initially, if the handset was lost, damaged or stolen within the contract period, then the customer is left with an unattractive choice: either using an old handset that might have limited features or of purchasing another phone at a much higher unsubsidised price.
With the Network providers offering longer and longer contracts, sometimes 18 or 24 months insuring your handset within the contract period makes sense. In the worst case scenario if someone signed a 24 month contract on one day and had their handset stolen the next day they'd be looking at a full 24 month contract without the shiny new Mobile.
With over 2 million handsets being stolen each year (not including lost or damaged ones) it makes sense to protect yours.
MP3 players are fast becoming a must have item for us all. They vary from cheap and cheerful players with a few of our favourite tracks on to top of the range iTouch players with enormous functionality and memory as well as a hefty price tag. Many retailers offer Warranties on MP3 players but few offer Theft or damage cover which is odd as a recent survey put MP3 players up there with the Mobile Phone and Cash as the top 3 items stolen in street robberies.