13/06/2012 12:33 | By Verity Burns, editor, MSN Tech & Gadgets

Why are Brits shunning mobile phone insurance?

New survey finds nearly three quarters of us don't have cover for our mobile phones.

Why are Brits shunning mobile phone insurance (© Geoff Kirby; PA Archive; Press Association Images)

Do you have insurance for your mobile phone? You know, that thing in your pocket that probably set you back a few hundred pounds, or at least a pricey contract? No? Well, you're not alone.

A new survey has found that 72% of Brits have no insurance for their mobile phone, despite 70% admitting they've broken or lost up to seven phones in the last 10 years.

The survey of 1,000 across the UK, conducted by Virgin Media, also found that 79% think that mobile phone insurance is unnecessary.

We insure our cars, our houses, our travel, our pets - why don't we insure the one thing that most of us would probably admit we'd be lost without?

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Do you have mobile phone insurance?

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    20 %
    Yes - you're stupid if you don't!
    139 votes
  2. 70 %
    No - it's too expensive
    471 votes
    10 %
    I have done in the past
    70 votes

Total Responses: 680
Not scientifically valid. Results are updated every minute.

I'm happy to hold my hands up and say I'm one of those people. I own a phone that cost me a small fortune, almost the same as my laptop at home, yet I have no insurance against it.

I think part of it comes down to the fact that you never think it'll happen to you. I didn't get insurance for my cat until he limped home with a dislocated hip that saw me forking out £700 for an operation. Ouch.

There's also quite a lot of confusion as to what phone insurance actually covers. A friend dropped her phone down the loo (come on, we've all been there), only to call her insurance provider to find that the monthly fee she'd been paying every month for a year didn't cover water damage.

So, what's the answer and what should you look out for? Matt Reid, UK director at specialist gadget insurer Protectyourbubble.com, comments: "I'm not surprised that many people won't consider their network's mobile insurance as it can be incredibly expensive - up to £15 - to cover an iPhone. That's about half the cost of a monthly mobile bill.

"But the choice in who you insure with is yours, and there are lower cost options out there. Those looking for gadget insurance should make sure their policy covers them worldwide for accidental damage - including liquid damage - in and away from the home, theft, loss and unauthorised calls. Don't just compare the monthly premium, check the excess too."

But we want to know what you think - do you have phone insurance? Do you think it's worth it? Leave us your thoughts in the comments below, or visit us over on Facebook and drop us a message there.

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