How Much Does it Cost for iPhone Insurance Plans in India?

Apple’s iPhone latest models, the iPhone 11 and iPhone XR have recorded an increase in shipment by 55% in January — February 2020. A primary reason behind that is price modulation based on the Indian consumer base.

However, despite that, the brand continues to command a price that is a notch higher than other premium smartphones in India. Resultantly, its repairs are also an expensive affair.

As a result, more and more individuals are opting for an iPhone insurance policy rather than simply relying on its manufacturer guarantee to mitigate the financial strain of repairs.

What is the cost of insurance plans for an iPhone in India?

The cost for Apple iPhone insurance plan in India varies from one financial service provider to another. It can be as low as Rs.499 per year and as high as Rs.1,199 semi-annually. While the cost or premium of an insurance plan is critical, you should also check other essential factors, like what the policy covers, the sum insured, etc.

Here’s a list of the features that you can find in a plan for the best iPhone insurance India -

1. High sum insured

Sum insured refers to the total amount of financial coverage that comes with your insurance plan, relevant for a specific period.

For example, insurance provider Bajaj Finserv brings Pocket Insurance & Subscriptions like Mobile Screen Insurance policy with a sum insured of up to Rs.10,000 against a nominal premium.

1. Coverage against fire and other perils

The most premium plans for Apple iPhone insurance in India extend financial protection for damages that your smartphone sustains due to fire, explosion, lightning, etc. You can also claim reimbursement for screen replacement up to the sum insured if display damage is due to instances of riots, cyclones, floods, earthquakes, and even strikes.

1. Protection against accidental damages

In case you accidentally damage your phone’s display, you can claim reimbursement for repairs against the same with an iPhone insurance policy. Some policies also offer such financial coverage for display replacement.

You can also avail similar protection for your Apple iPad or any other tablet via a handheld tablet device insurance policy.

1. Coverage against breakdown

With an Apple iPhone insurance plan, you can also avail financial coverage for an unprecedented mechanical and electrical breakdown of your smartphone.

Most reputed financial service providers require that your phone is in your custody during such breakdown for the legitimacy of the claim.

1. Financial protection against burglary, robbery

In case your smartphone sustains any damage due to instances of burglary or robbery, then you can avail financial protection against the same with an iPhone protection plan.

You can also secure your Apple mobile charger against similar damages by purchasing a mobile charger insurance plan.

1. Simple claiming procedure

You might also find it essential to opt for an insurance plan with a hassle-free claiming procedure. With prominent financial service providers, you can raise a claim simply via a call or an email.

A few documents that you might need to produce are:

• Filled out a claim form with details of the damage, price estimation, etc.
• Documents buttressing price estimation
• FIR if it’s a case of burglary, theft, or robbery

You may also need some other papers as deemed necessary by a representative to substantiate the quantum of the claim.

Note that to avail a low premium on an iPhone insurance plan, you should purchase it before or immediately after buying your smartphone. Typically, mobile insurance policies can be availed within 30 days of purchasing the device.