Mobile phone theft: how not to be left out of pocket by a pick-pocket

With over 300,000 mobile phone thefts reported across England and Wales last year*, the experts at Go.Compare are encouraging people to check their insurance policies to see if they are covered.

With top phone models such as the latest iPhone and Samsung now setting Brits back up to £1000, a stolen or lost mobile can leave you seriously out of pocket. For many, mobile phones are one of the most valuable items we own, and going without a phone for even 24 hours can be a significant inconvenience. With long-term phone contracts, theft or loss doesn’t mean you can stop paying your monthly fees -  so if you don’t have insurance in place, you could be facing significant costs before you even think about getting a replacement.

Recent research from Go.Compare asked 2024 festival go-ers about the gadgets they take with them and their insurance.** They discovered that more than one in ten (13%) of these people assumed their home insurance policy would provide them with the cover they need for any gadgets they take with them - and the data shows they could be mistaken.

Analysing 305 contents insurance policies, Go.Compare found that less than 1 in 5 policies (56) included mobile phone cover away from home as standard. Meanwhile, 242 policies offered cover if consumers selected the option of additional personal possessions cover when finalising their policy.***

Tom Banks, Go.Compare gadget insurance expert, explains how to know if you are already covered: “Losing your mobile can be a really stressful experience. With smartphones now so sophisticated, so much of our life is on them - yet many of us don’t know if we have insurance to cover any mishaps outside of the home. If you’re unsure, then it’s important to check the details of your home insurance - and consider gadget insurance if you’re not already protected.

““Depending on your policy, your home insurance may include cover for things like loss or damage due to fire or flooding, or theft from the home – although you might find that your contents policy won’t cover you if this happens while you’re away from the home. However, if you have a gadget insurance policy in place you could be covered, but before you opt for an extra gadget insurance policy, check the details – and any exclusions - of your contents policy so that you know the terms of your existing cover.

“Should the worst happen and you aren’t protected, you could be on the hook for more than just the cost of a new phone - if you are locked into a long contract, you will have to keep paying the monthly instalments anyway. Plus, if your phone was one of the latest models, the cost of getting a replacement could be high.

Tom added, “It’s easy to see why gadget insurance could be a worthwhile investment, particularly as the average monthly cost for the iPhone 15 (128GB) is £6.97**** - less than 1% of what it would cost you to replace the phone.

“While the extent of your cover will vary depending on the policy, if you are accident-prone, gadget insurance could be really worth the investment. It might be cheaper than you think, so it’s worth having a look around and seeing the options available. Comparison websites are a great place to start and allow you to easily compare policies side-by-side.”

Gadget insurance is designed to protect your phone and help pay for repairs or replacement if your handset is lost, stolen or damaged away from the home. The average monthly cost of gadget insurance for the iPhone 15 128GB is £6.97, and £7.65 for the Samsung Galaxy S23 128GB****.

To find out more about gadget insurance and what it can cover visit:  https://www.gocompare.com/home-insurance/mobile-phone-cover/