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Travel Insurance & YOUR IPHONE

Good news for iPhone fans; the latest release promises a longer-lasting battery life in an assortment of bright new colours. Best of all, the new model features an extra durable screen and water-resistant handset. With prices starting at a cool $1,629 (or $1,799 for the Max, wide-screen version) Apple fans keen will need to dig deep for the latest iPhone instalment.

However...those planning to travel with their flash new gadgets may want to consider whether their iPhone, Android or any type of smartphone are actually covered on the go!

Cover your gadgets on-the-go!

These days our phones aren’t optional travel accessories- they’re essential. However, all too often travellers damage or lose their gadgets only to later discover that they aren’t covered. Or they can only claim back half of the phone’s original cost.
 
Did you know a standard travel insurance policy may not necessarily cover the entire cost to replace your phone, due to single-item cover limits? If your phone is worth upwards of $1,000 you'll need to find a policy with higher per-item limits. Or one that allows you to pay an extra premium to cover your high-value gadgets.

 

Who covers what? 

 Insurer Covered amount Conditions
1Cover $1,000 No cover if checked into cargo hold of transport method (unless required to) no cover for damage to screens or water damage.
American Express $1,000 No cover if checked into cargo hold of transport method (unless required to)
Cigna $2000 No cover if checked into cargo hold of transport method (unless required to)
Columbus Direct $750 No cover for loss on a carrier without property irregularity report 
DU Insure $1,000 No cover if checked into cargo hold of transport method (unless required to)
NZ Travel Insurance $1,500 Do not cover fragile or brittle articles or manufacture malfunction
Southern Cross $1,500 No cover if checked into cargo hold of transport method (unless required to)
State $1,500 Must be kept on your person at all times where securty regulations allow you to do so
TINZ $1,000 No cover for electrical or mechanical breakdowns, damaged to screens or scratches, water damage, broken during cleaning or repair or from normal deterioration. No cover if checked into cargo hold of transport method (unless required to).
Zoom $1,000 No cover if checked into cargo hold of transport method (unless required to) no cover for damage to screens or water damage.

General Advice Warning: The contents of this article were accurate at the time of writing. Insurers change their policies from time to time, so some information may have changed. You should always read the Product Disclosure Statement of your chosen insurer to understand what is covered and what isn't. The information provided is of a general nature only and does not take into account any personal objectives, financial situation or needs. Before making a decision you should consider the appropriateness of the information having regard to your personal circumstances.

Good news for those on new contracts

Despite some exclusions surrounding phone cover, travel insurance can be a huge asset when travelling with expensive devices.  A great benefit is that most comprehensive policies cover the full cost of your phone, regardless of any outstanding contract fees.
 
Insurers like Zoom and 1Cover  will pay for the total value of your handset, no matter how much of your contract you’ve paid off. While depreciation may still apply this can still be an invaluable benefit for those who haven’t yet paid off their phone in full.

 

When are you not covered

No IMEI number: Some insurance companies will not pay out a claim relating to a mobile phone (or device with phone capabilities) if you are unable to supply the IMEI (International Mobile Equipment Identity).

Cracked screens: It’s happened to the best of us - an ill-fated fall has cracked our phone screen, or it’s been waterlogged in a bathtub or toilet. While the iPhone XS promises to be indestructible, not all phones can withstand a hard knock or splash. Some insurers have begun restricting cover for phone screen cracks and damages. Many omit cover for damages to mobile phone, laptop, or tablet screens - so make sure you do your research when shopping for insurance. 

Leaving iphones behind: Failing to keep a close watch on your iphone may also invalidate your cover. Forgetting your mobile behind in a taxi, hotel room, airplane or from an unlocked car for instance, wouldn’t be covered by most insurance policies given the phone was left unattended.

Checked in items: Most insurers do not cover for damages or loss for items that were checked into the cargo hold of any transport carrier. So make sure you have your phone in your hand luggage. 

Unreported items: Most policies will maintain that it is your responsibility to report theft or loss to the relevant authority (and your travel insurance provider) within 24 hours.

Items with no proof of purchase: Without an original receipt to prove your iphone purchase, your claim might be rejected. Something to bear in mind is that photocopied, faxed or scanned documents may not be accepted.

When alcohol or drugs are a contributing factor: If you were under the influence of drugs or alcohol when your smartphone went missing, your claim may not be paid out.

Beware of depreciation

Insurers will usually depreciate the value of any item you claim for, so when taking a brand-new smartphone away on holidays, adding it as a ‘specific high value item’ will limit the impact of depreciation on your phone. Just a few months can drop your phone’s value by as much as 50% so it may be worth spending a little extra to ensure the phone value remains.

 

go go gadget

Always do your research and see what varying insurers can offer you. When you’ve spent a lot of money on your new exxy iphone it’s worth taking the time to ensure it’s well protected. Compare travel insurance for you and your phone now. 

 

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