Insuring your Cell Phone
With the increasing cost of mobile phones due to technology improvements as well as the proportionate increase in Nigerians' purchase for these devices, some insurance companies in the country have launched special insurance packages for mobile phones.
However, bear in mind that these plans do not cover all mobile phone types and brands. Moreover, as for any insurance policy, some exclusions might apply.
How Mobile Phone Insurance works
Like every other type of insurance, mobile phone insurance provides coverage for unexpected risks that come up with the regular usage a mobile phone (theft, damage).
However, for now, most of the insurance providers that offer plans for mobile phones only provide coverage for damages. Those plans are applicable to certain types of smartphones only and benefits like loss or theft coverage are usually excluded.
For instance, Mansard Insurance's mobile phone insurance package is only applicable to Microsoft Lumia phones. The policy covers only the cost of repair for screen damages and liquid damages only. Other types of damage, such as esthetic damages, as well as loss or theft are not covered.
Similarly, Slot Nigeria also offers a mobile phone insurance scheme, which covers the cost of screen damages for one year. Other types of damages are not covered. The coverage is available for mobile phones from the following brands: Apple, BlackBerry, Samsung, HTC, LG, Sony, and Microsoft.
In other words, if you purchase a mobile phone insurance policy and your device's screen gets damaged, your policy will cover the cost of repairing your device. However, additional benefits willl vary with the insurance provider.
Insuring other minor belongings
Some Nigerian insurance companies also offer coverage for clients looking to insure certain types of valuables, such as jewelleries. Both commercial and private properties can fall under this category, depending on the insurance company.
However, insurance coverage for minor belongings are usually offered as custom packages, since it is subject to specific terms, exceptions, and limits depending on what is to be insured.
To insure your jewelleries or other specific valuables, visit the nearest branch of your preferred insurance provider or approach an agent to make the necessary enquiries. Your chosen provider will come up with a custom plan for you and will specify the terms and conditions that apply, as well as the premium you will have to pay for protecting your belongings.