Are you the type of person that hates buying insurance for whatever reason, maybe you’ve never made a claim or maybe you just don’t like being sold to. You may feel angry when the sale person offering you insurance starts giving you facts and figures about the number of phones that go missing and all you can think about is the fact that you’ve never made a claim and you know that mobile phone insurance is an upsell that makes a nice amount of profit. There are other solutions to mobile phone insurance that might suit you better than paying an insurance company a monthly or annual premium.
Some types of insurance are compulsory and a legal requirement at least in the UK, if you have a car then a minimum or third party insurance is a necessity if you’re a home owner then you need to at the very least have building insurance. But when it comes to possessions insurance like for a mobile phone or laptop insurance you have a choice to buy or not to buy.
If you’re the type of person that wants the benefits of the insurance without paying a monthly premium in then maybe you should consider self insurance.
Self insurance is nothing new but of course you’re never going to hear an insurance company suggest it to you. Rather than paying a insurance premium every month you put the money in a savings account and keep it there just in case you need it. Obviously this isn’t always going to cover you completely especially if you lose the phone early on and you’ve not had the time to put that much money away but it is a good way of protect your phone if you’ve never made a claim and don’t want to buy mobile phone insurance.