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National topic of the week:-
"MOBILE PHONE INSURANCE"
ARE we paying extra for something we already have?
According to Age Concern around 25
million Brits are forking out £1.5 billion a year on mobile phone
insurance when their phones could already be covered under their
home and contents insurance policy.
With mobile phone cover often costing more than the handset itself,
Age Concern Insurance Services in Wirral is urging people to check
their existing home and contents insurance policies before forking
out up to £100 for specialist mobile phone cover.
Mark Cheeseman, of Age Concern Wirral, says:- ?Mobile phone
insurance has become big business in the space of just a few years,
but millions of people are actually paying twice to insure their
mobile phones ? once through their home and contents insurance and
again for mobile phone insurance.?
This is an increasing problem for older people across Britain as
more and more purchase mobile phones. New research conducted by Age
Concern reveals that nearly three quarters of over 50 year olds now
own a mobile.² However, many are new to the market and over 80%
spend less than £10 per month on calls and texts.
?These findings show that many older people are actually paying more
for their mobile phone insurance than for making calls and texts. We
are concerned that older people, who have only recently bought a
mobile phone, may fork out for expensive cover when there is a
better and significantly cheaper option available to them?,
Mark adds.
It?s not just high premiums that are leaving people out of pocket.
Mobile phone insurance companies often refuse claims due to
exclusions hidden in the small print. Most policies will not pay out
if you mislay your phone and if your phone is stolen without the use
of force your insurer is unlikely to settle your claim. Other
typical exclusions include theft caused by deception, water damage
and unauthorised call use after theft.
What are your views?
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