Smartphone! How much meaning, joy, and sometimes melancholy is contained in this word. In our age of technology, it's hard to imagine any other thing that captures such public attention.
I bet most of you touch your girlfriends (or boyfriends—forgive me, ladies) far less often than you touch your smartphone screen throughout the day! All sorts of social networks, tons of news resources, social videos, cooking recipes, cat videos—all this wealth is contained in one “magical” device—your smartphone.
Just imagine: according to statistics, every fourth smartphone user spends about 7 hours a day on it! And that's out of those 24 hours a day, 8 of which we try to dedicate to sleep, while the rest are filled with work, family time, and other boring things (just kidding, family is sacred).
We won't discuss today whether it's good or bad that smartphones have become such an integral part of our lives. Today, we'll talk about how to protect yourself from potential tears and financial losses if your beloved smartphone breaks or is lost—about insurance. And also, whether it's worth spending your hard-earned money on it at all.
Smartphone insurance seems like a rather attractive and attractive service at first glance. By purchasing it, you can protect yourself from further financial losses in the event of damage or loss. It sounds tempting, after all, with coverage costing between 1.5% and 10% of the smartphone's value.
This means that if the iPhone Xs costs 90,000 rubles, the insurance cost will not exceed 9,000 rubles, but the insurance company itself assumes responsibility for paying you the full cost of the phone if certain conditions are met.
However, there are some pitfalls to this approach that make smartphone insurance less appealing. So, let's look at the most common pros and cons of smartphone insurance.
Pros of Insurance
1. By insuring your smartphone, you can in any case protect yourself from further financial expenses in the event of damage or loss.
Considering that we spend most of our lives in front of our smartphones, whether in the kitchen or the bathroom, the risk of an accident that leaves you mourning your smartphone is significantly higher. But if you decide to purchase insurance, you can put aside unnecessary worries and use your gadget without the fear of being left high and dry due to an accident.
2. The cost of the insurance policy is significantly lower than the amount that the insurance company will be forced to pay in the event of damage or loss.
Considering that most people prefer to buy rather expensive smartphones, which can cost up to 100,000 rubles (hello, Apple), many would like to be sure that if their expensive toy gets damaged, they won't have to bear additional costs.
3. When purchasing an insurance policy, you have the right to choose flexible insurance terms that will cover your specific needs when using a smartphone.
For example, insurance often covers not only the loss of a smartphone but also damage to its display, which is the most common breakdown these days. You can choose insurance terms that obligate the insurer to repair your smartphone's display free of charge several times during the policy period.
4. When purchasing a smartphone on credit, the cost of the insurance policy is included in the total cost of the loan.
Let's say your smartphone costs 50,000 rubles. If you purchase this device on a one-year loan, your monthly payment will be approximately 5,000 rubles. If you choose to purchase additional insurance for the device, its cost will be included in the loan amount. Therefore, with insurance costing 5,000 rubles, your monthly payment will only increase by 500 rubles, which you likely won't even notice. However, your new device and your wallet will be protected throughout the entire loan period.
Facts against insurance
1. Smartphone insurance is an additional cost to the smartphone, which is already quite expensive these days.
Agree, few people want to pay an additional 5-10 thousand rubles, given that the accident for which the insurance would be triggered may not occur at all.
According to statistics, the average time a person uses a smartphone before upgrading to a new one is one year. Newer and smarter smartphone models are constantly being released, forcing many users to regularly upgrade their devices. Consequently, even if you purchase smartphone insurance, you may not even have time to use it because you decide to upgrade your phone as soon as possible.
2. Your smartphone insurance terms may not be as rosy as you imagine.
For example, many insurance companies have a policy that if your smartphone gets wet due to your fault, it's not covered, meaning you can forget about insurance. The same applies to losing your smartphone due to your fault, such as leaving it in a taxi or on a bus. So, even if you purchase insurance, getting your money back from the insurance company can be a real challenge!
3. Franchise.
Statistically, when you purchase an insurance policy for your smartphone, the insurance company most often includes a deductible—a minimum amount of damage, below which you lose the right to claim insurance.
For example, if your insurance policy specifies a deductible of 10,000 rubles, and the cost of replacing your gadget's screen is only 7,000 rubles, the insurance company is exempt from reimbursing you for these expenses.
What's the bottom line? Is it worth overpaying for smartphone insurance, or should you save money by investing in as many screen protectors and cases as possible to ensure your phone is safe from the elements?
My opinion: it's worth insuring a smartphone when its value is comparable to the cost of a used car or a two-week vacation. If your phone costs more than 60,000 rubles, you should definitely consider insurance, as forking out an extra 5,000 rubles can save you a lot of stress and significant financial expense. Experience shows that A-brand phones these days are not only expensive but also fragile (I'm sure many of you have learned this the hard way).
