Why people don't insure their mobile...

68% of people without mobile phone insurance don’t think they need it 

Our latest online research shows that the most common reason that people don’t insure their mobiles is because they don’t think they need insurance. In our latest survey** we’ve found that 68% of you don’t think you need insurance for your mobile phone. That’s despite the fact that 9 in 10 (91%) of us now own a mobile or smartphone.

These findings are compounded by figures from tablet users, as 71% of you admitted that you didn’t have cover because you didn’t think you needed it. But with Ofcom predicting that 63% of the UK population will take up a tablet by the end 2016, it seems concerning that just under a quarter of the tablet owners we surveyed actually have insurance (23%).

Our latest research, which looks at people’s approach to gadget insurance, has highlighted that many of us are not taking precautions when it comes to protecting our mobiles and smartphones. Whilst many of those surveyed cited the lack of necessity as their primary reason for not insuring their mobile devices, another common reason was the expense.

In fact, 34% of those surveyed who didn’t have their mobile phone insured cited the fact that it’s too expensive as the reason why. Similar numbers can be seen for tablet users, with 30% of those surveyed who didn’t have their tablets insured admitting it’s because it’s too expensive.

But with smartphone users now spending nearly two hours a day using the internet on their mobile phone, it seems surprising that so many people are reluctant to insure them. The average smartphone in the UK now costs £259 so it isn’t all that cheap to replace your mobile if it does get lost, damaged or stolen.

mobile phone insurance festival

"According to research by the Home Office, over 50% of all stolen mobiles in London are Apple iPhones." 

Damian Reilley, our Head of Home Insurance, says, “It’s worrying that so many people don’t think they need to insure their mobile phones and tablets. As a nation we are spending more and more time on these devices and they don’t come cheap.

“Insuring your devices can cost a lot less than you think if you add them onto your home contents policy. Whilst your devices may already be covered for theft in the home, accidental damage or away-from-home cover will need to be added onto your policy.”

So, with more of us than ever spending a lot of time on our mobile devices, it’s time to start thinking about insurance. Smartphones and tablets are often a significant financial investment and it could be good to have the peace of mind that you’re protected if it ever gets lost, stolen or damaged. So if you want to make sure you’re covered, you can compare home insurance quotes now and make sure you’ve got the right level of cover and the best price for you.

 
** A YouGov survey commissioned on behalf of comparethemarket.com in April 2016 with a sample size of 2,003 adults (aged 18+) representative of the GB population as a whole.