cell deductibles

Cell phone coverage can vary depending on factors such as the style or model of the phone and the insurance carrier. It is essential to have cell phone insurance, especially when facing mechanical issues, water damage, accidental damage, cracked screens, theft, or loss.

The mobile phone insurance market has witnessed significant growth in 2022. Furthermore, our evaluation of the compound annual growth rate (CAGR) indicates that the mobile insurance market is projected to maintain a steady growth trajectory. The period from 2022 to 2028 is expected to witness an annual growth rate of 12.6% (CAGR).

Challenges and Trends in Mobile Phone Insurance: Deductibles, Damage Claims, and Market Dominance

The biggest misfortune that consumers have experienced when paying their monthly mobile phone insurance premiums is that despite it all, they would have to pay a deductible to replace or repair their devices. Many times, the deductible can be equivalent to the retail price value of their phone.

The phone damage claims segment accounts for approximately 39% of all mobile phone claims, making it the highest claim category recorded. Loss and theft are reportedly the second in line in insurance claims matters.  In 2020 The premium smartphones dominated the insurance market with over 60% in market shares.

Importance of Mobile Phone Insurance for Premium Smartphones

Premium smartphones, such as the iPhone 13 Pro Max, with fragile front and back glass features, can require over $600 for glass replacement, which is more than half the phone’s price. Insuring your mobile phone is crucial to avoid costly out-of-pocket expenses for replacing or repairing essential devices.

Deductibles for mobile phones may vary. Mobile phone insurance deductibles can vary from $100 to $500 or more, depending on your chosen device and insurance plan. Here at NO DUK we want to ensure that you receive the utmost savings all around! Our aim is to encourage everyone to insure their mobile devices. It’s particularly important to have your mobile phone insured if you’re accident-prone.

Mobile phone insurance, priced at $5 to $20 monthly, is vital for substantial repair and replacement support. Do you know what can provide even more assistance? Not having to pay a deductible ever again.

Here at NO DUK submit your claim information and receive what would be your deductible in your pocket! It’s that simple! Contact us to speak to a claim’s specialist for more information.

Say No to deductibles! Say NO DUK!!!

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