Phone Insurance - What You Need To Know About Claiming A Policy If your phone is lost or stolen, report its disappearance for your service supplier immediately and after that you can report to police officers. You should also go through the various security measures that were built-in through the manufacturer like PIN (Personal Identification Number) lock enables you to disable your phone and stop unauthorized use once it can be stolen. In the same way, some situations also prevail where one need to get your hands on new phone, for their handsets which either get damaged by water or other liquid. Theft is yet another factor that also offer same result ie., loss of cellphone. Whatever function as the reason, all affects pocket badly and also one get depressed of losing ones useful asset. But, forget about worries now. And the credit all travels to different phone insurance coverage meant for saving our cellular phone. 1. Mortgage Payment Protection Insurance Mortgage payment protection insurance (MPPI) is a kind of insurance in places you make one more monthly payment that covers you in the event you not able to you could make your monthly mortgage payments - maybe as a result of an urgent gadget insurance health problem or loss of income. Typical charges per $1000 each month mortgage payment are around $50 per month. But in accordance with recent figures only 15% of claims are paid for. This is because MPPI typically excludes pre-existing conditions and also new conditions should they be stress or back related. But even in case you do make claims with this form of insurance - it is going to only pay out for a year which is just after an excess amount of between 30 and two months. Its imperative that you insure for mishaps, obviously you have to take sensible care of your phone but there are occassions when no amount of due care and attention can prevent a car accident waiting that occurs. For instance consider, walking along and you also trip on the loose paving slab, you fall as well as your mobile flies through your hand and into the road and gets go beyond by the passing bus. This could be considered unlucky, but thankfully youve applied for cell phone insurance that covers for accidents and you also can change it, improve your phone than you under that bus. If you do suffer a loss of profits, theft or damage, you only need to contact your phone insurance company to alert them from the situation. You will then must pay any applicable excess fee for the repair or replacement that you require. This takes a lot less time than trying to conserve for the new phone and waiting weeks to activate it. Many people also forget that they will have to remain to fund their monthly phone bill with or without a mobile phone, unless they spend the money for early termination fee. That would mean spending numerous pounds at the end in the day.