MobileCover, an Irish mobile insurance website, has just launched in Singapore. The site offers insurance coverage (underwritten by Zurich Insurance Company Ltd.) on mobile devices like smartphones and tablets for as little as 18 cents a day. Not too much for peace of mind right?
Regular phones and smartphones are insured from S$5.49 a month, while high-end (which means they are more attractive to thieves) phones like iPhones and the new Samsung devices (S4 and Note 2) as well as tablets are insured for S$9.99 a month. Consumers who sign up for coverage not only enjoy protection against device damage, loss or theft, but also worldwide cover, accessories cover and unauthorized calls.
“We want to provide Singapore’s highly mobile consumers with a service to match their busy lives and protect them from the hassle and stress of losing or damaging their handphones or tablet,” says Paul Gilligan, CEO of Mobilecover. He adds: “Our research shows that there is significant demand for such a product, as the handphone is now at the centre of both our business and personal lives”.
According to data from MobileCover, 52% of surveyed adults have underwent the painful experience of losing their phones, or have their phones stolen. That explains why 88% of surveyed adults would pay to have their mobile devices insured.
Mobilecover is independent of any mobile network operator and thus policy owners can change their mobile operator without having to worry about cover lapsing. Policy owners are also entitled to a maximum of two claims per year, depending on their policies. Compared to a product warranty - which does not cover loss of the device and/or accidental damage - Mobilecover can provide comprehensive protection against loss, theft and/or accidental damage.
According to MobileCover, this is the first time any company in Singapore is offering such services for mobile devices. MobileCover said that it's building its Southeast Asian operations, with Singapore as its base.