Cell phone insurance can vary based on the phone style or model. Cell phone insurance also varies on the type of insurance carrier. Insurance for cell phones is vital, especially when you face mechanical problems, water damage, accidental damage, cracked screens, theft, or loss.
The mobile phone insurance market has experienced a large growth in 2022. The mobile insurance market is projected to continue rising consistently based on the compound annual growth rate (CAGR) we have evaluated so far. It is expected to continue to grow at an annual rate of 12.6% (CAGR) from 2022 to 2028. 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 has been recorded to be the highest claim matter and is recorded at approximately 39% of all mobile phone claims. 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.
Premium smart phones like the iPhone 13 pro max, which have front and back glass fragile features, could cost the consumers approximately $600 or more than half of the price of the entire phone in case of a need of glass replacement. That would be the price for glass replacement without cell phone insurance and out of warranty. It is always a good idea to get your mobile phone insured to avoid any astronomical out of pocket expenses to replace or restore your everyday handy devices.
Deductibles for mobile phones may vary. You can expect to have to pay anywhere from $100- $500 in deductibles or more depending on the device or insurance plan you have purchased. Here at NO DUK we want to ensure that you receive the utmost savings all around! We do not want to discourage anyone from getting their mobile devices insured. It’s especially essential to have your mobile phone insured if you’re accident prone. Mobile Phone insurance typically runs anywhere from as low as $5 a month to approximately $20 monthly. It could help you so much in events where you need repairs or replacements. You know what can help you even more? 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!!!