A recent study by a leading marketing firm has presented that Apple has continued its growth in the premium smartphone segment in the first quarter of 2020. It now has 33% market share in this segment from an 18% growth that it registered in the same period last year. Multiple reasons have played a role in this rise, especially the growing demand for iPhone 11.
Since smartphones are highly susceptible to external damages, even a minor drop can cause significant damages to components like display. However, the display of a smartphone does not come under the manufacturer warranty and can incur significant debt in case of an accident. Therefore, accessing a comprehensive Apple insurance plan is a good idea to cover such costs.
Benefits of availing an iPhone insurance plan
Premium smartphones like iPhones also come with a high repairing cost, with its components inviting expensive costs in case of damage. Therefore, keeping a comprehensive Apple insurance policy in place can be a smart decision for owners. It will protect their financial interests in such scenarios. Here are some notable benefits of availing such a policy –
- Theft protection
In the event of a loss or theft of a smartphone, the inconvenience that accompanies is unimaginable. Along with sustaining financial distress, individuals also lose their essential data and personal information. While such data loss exposes individuals to unauthorised usage more often than not, it is ideal to avail an Apple iPhone protection plan to mitigate such troubles.
Moreover, specific insurance policies also offer device security that helps individuals to protect sensitive information on their device. One such policy is the Mobile Screen Insurance plan offered by Bajaj Finserv under its Pocket Insurance & Subscriptions, which also bring other critical coverage benefits for users.
- Damage repair
Smartphones, irrespective of their brand or price, are susceptible to damage. Especially, the display of the device is more vulnerable than any other component due to its fragile and exposed build.
Further, as their repair, as well as replacement, is costly, any damage to the screen results in significant financial distress. Hence, to tackle such unprecedented expense, keeping an iPhone insurance plan in place can serve suitably.
- Easy to avail
Typically, as a suitable replacement to Apple insurance plans, these covers are easy to avail. Insurance providers offer quick and hassle-free application process as well as claim settlement process too. Applicants can thus fill-up the online application form and make the necessary payment to activate their insurance plans.
Also, in the event of an accident, they can quickly file a claim via email or phone number registered with the provider.
Even though availing an insurance plan is not a hassle, it is essential to keep an eye out for certain features before opting for a particular plan.
Things to look out for in a coverage plan like iPhone insurance in India
Here are some important points that one must look out for before getting an insurance plan for his/her iPhone –
- Premium amount
Some of the best insurance providers bring yearly coverage benefits at nominal, one-time premium payment.
- Extent of coverage
Along with the premium amount, it is imperative to check the coverage benefits offered by a particular insurance plan. Typically, mobile screen insurance plans from reputed aggregators offer financial coverage against an array of incidents, which include both natural calamities and human-made incidents.
- Claim settlement ratio
Several insurance providers are operating in the market, of which some are the most reliable. In this regard, one can check the claim settlement ratio of a particular insurance aggregator before availing their services.
Apart from these, one must also check the additional benefits available with a particular policy.
Additions to a screen protection plan for your iPhone
Coverage benefits under a screen insurance plan can further be boosted by availing coverage for iPhone accessories as well. Here are two notable insurance plans for this purpose –
- A mobile charger insurance cover is a suitable add-on that offers necessary coverage in the event of any damage to the phone’s charger. It covers both the repair and replacement costs.
- Also, for accessories like AirPods, one can get a wireless headphones insurance plan to protect their financial interest in case of any theft or damage to the same.
An Apple insurance policy offers comprehensive coverage from various incidents that safeguard an owner’s financial interests. Therefore, such insurance policies are essential to invest in along with purchasing a premium smartphone like the iPhone models.