Which Is Worse: Losing a Phone or a Car?

Are your policies up to date?

According to research conducted in the US, more and more people believe that they are more likely to miss a stolen or lost phone than a stolen or lost car.

The new survey indicates that 35% of people aged 18-34 believe the sheer volume of information stored on one’s phone today makes losing it more painful than losing a car.

Some insurers believe the high number of younger people who share this view represents a growing trend regarding the importance of cellphones today.

According to our claim statistics, cell phone theft has steadily increased since June 2013. To make matters worse, we have noticed a decrease in the amount of people insuring their cell phones.

Although people recognise that their cell phones or laptops could be stolen at any moment, most choose not to insure them because they believe that the premiums for cell phone and laptop insurance would be more costly over the long-term than it would be to replace the device if it ever were stolen or lost. This is a complete fallacy.

You need to consider the pitfalls of not ensuring a phone under contract, as the customer would still be liable to pay the contract in the event of it being stolen. You have to notify your insurer to include valuables that you carry around with you under the portable possessions or all-risks section of your policy.

Never assume that they’re automatically covered!

It is important to remember that every time you upgrade a phone, laptop, camera or any other device, you must notify your insurer of the new make and model, and its value. This is the only way you can be assured of having appropriate and adequate coverage for your new gadget. If you don’t notify your insurance provider that you have a new phone for example, they may not cover you if it is stolen.

Have you insured your new phone?

Content Credit to: www.tech.howzit.msn.com