Why you should Buy an Insurance Policy for your Samsung Smartphone

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Samsung is one of the most popular smartphone brands in India, with sales of more than 6.7 million units in Q1 CY2020-21. With impressive and state-of-the-art features, the company lists a wide variety of mobile devices, distinct in their specs and price. It has been a go-to brand for both the mid-range and high-end consumers.

Samsung’s current market share is around 20% in India’s smartphone market.

Those picking the premium models often opt for Samsung mobile insurance policies. The primary reason behind this decision is to ensure financial security in the event of loss or damage of the device in question since most of these phones are expensive.

If you are unconvinced about the importance of such smartphone insurance plans, listed below are four perfectly good reasons to consider acquiring such a policy.

Why Samsung Phone Insurance is a Wise Choice

Samsung devices are characterised by their feature-rich specifications, along with stylish design concepts. Any damage befalling such a device can be devastating to a user, both financially and emotionally. 

Here are some ways that a Samsung mobile insurance in India can be handy – 

  1. Repairs and replacements tend to be expensive

Samsung smartphones, especially the high-end models, sport superior parts. Any damage to these can lead to expensive repairs or replacements. 

Premiums for mobile protection plans are more affordable when compared to the cost of such repairs. The sum insured for these policies, on the other hand, is sufficient to deal with almost any repairs that your phone may require.

  1. Displays are extremely fragile

Even though most modern smartphone displays have Corning Gorilla Glass layering, they are still susceptible to some damages. They can easily crack or break if subject to shock, which can be caused due to falling from a great height. 

Screen replacement is immensely costly; moreover, such services are also covered under warranty.

71% of phone repairs in India are concerned with screen issues.

Using a phone with a broken screen is consequential as well since such cracks on the display glass can lead to dust and liquid accumulation under the surface. 

Instead, one should look into a Mobile Screen Insurance policy offered by NBFCs like Bajaj Finserv under their Pocket Insurance & Subscriptions. Such a policy can help you recover any financial loss from the replacement of your phone’s screen. The cost of such a mobile screen insurance plan is minimal but offers a substantial sum insured of up to Rs.10,000. 

  1. Recovering losses from theft or loss

An individual can end up losing his/her smartphone; this loss can be as a result of misplacement or due to theft. Smartphone theft is a cause for major concern for Indians, especially for those residing in the metropolitan cities, such as Mumbai and Delhi.

  • More than 56,000 mobile phones were stolen aboard Mumbai local trains in 2018 and 2019. 
  • This represented a total loss of over Rs.6.08 crore.

A smartphone insurance plan can help you financially recover from such thefts and losses, allowing you to afford a replacement phone quickly.

  1. Repairs from unauthorised centres are risky

Individuals lacking such insurance plans may opt for cheaper repair services from unauthorised service centres. Not only can doing so compromise the quality of repairs, but it can also lead to additional problems in your Samsung device. 

Thus, rather than risking such issues, opt for a decent Samsung mobile insurance policy and initiate repairs at authorised service centres only. Doing so will ensure the best quality repairs for your damaged phone while also eliminating the cost factor for you.

However, simply opting for a smartphone insurance policy is not enough to ensure complete financial protection. Today, most Samsung smartphones are accompanied by high-end accessories, including wireless chargers. Due to their enhanced functionality, replacing or repairing these chargers can be just as costly as repairing some parts of the phone. 

Fortunately, with a mobile charger insurance cover, one can undertake repairs to the same without additional financial burdens. These plans can also pay for charger replacement in case of irreparable damage.

You can also look into a wireless headphone insurance policy if you desire a similar type of financial protection against any physical damage to your expensive wireless headphone. Such a policy offers a sum insured of up to Rs.10,000.

Samsung smartphones possess cutting-edge technology across a variety of parts, including impressive displays, cameras, processors and software. Even a single malfunctioning part can restrict such a device’s functionality drastically. When such a thing happens, you should not delay in repairing the same. 

With these handy insurance policies, money should no longer be an issue concerning such repairs or replacements. However, make sure that you opt for such plans as soon as you purchase a new Samsung device, as they do not cover older phones.