I almost fell off my chair when my local mobile phone shop (I won’t name them!) quoted me an outrageous amount for my PDA insurance. It was about a third of my monthly tariff which to me didn’t seem right. I flat out refused to pay, and then forgot about it. That was a big mistake. I left my new Blackberry in the back of a can the following week and had to fork out a lot of money to replace. Please don’t be stupid like me! Check out my tips below:
PDA INSURANCE – TOP 3 TIPS
1. Go with an independent online company
At the time of writing this article, the best online PDA insurance company could save you between 20%-22% on the high street prices. And you know what, you get exactly the same cover. So why would you pay more if you don’t have to? You must be 100% sure that the company you are using are legitimate and FSA (Financial Service Authority) regulated as there are quite a few cowboys out there. As an absolute minimum, your cover should include the following:
Fraudulent calls – protect yourself against calls made by the thief!
International cover – When you lose your phone on holiday
Water damage – protect against dropping your phone in your pint!
Theft – Did you know that 1.3 million mobile phones were stolen in the UK last year?
Loss – many online companies do not offer this protection. its a must
Another important factor to be aware of is that many companies will not get a phone or the cash out to you immediately. As a bare minimum you should be looking at 48 hours.
2. Make sure you receive a ‘No Claims Bonus’
This is very important. The reputable and respectable companies out there on the internet actually offer a ‘no claims bonus’. This means that if you don’t make a claim within a certain period of time you will be rewarded. As a minimum you should be offered something like a free PDA battery after 12 months, and a free upgrade of an equivalent handset after 24 months. That’s pretty cool! And not something I expected when I started out my research. The high street providers definitely don’t offer this little PDA insurance bonus!
3. Try insuring with your bank
Who would have though in this day and age that a banks will actually offer you something for nothing. I spent a lot of time researching PDA insurance and one of the pleasant little surprises I discovered was that banks will insure your PDA for free. Not many people know this! If you bank with Lloyds TSB and have a premium account then you will be covered up to a certain monetary value. I think last time I checked it was £350. Please be aware though that you will have to fill out a mountain of paperwork, and probably wont have your money or new phone within the 48 hours offered by the independent insurance company (in point 1)
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