Haris Ashley
If you're wondering whether you have phone insurance with HSBC, it's important to understand that this type of insurance is typically offered as an add-on to an existing account or as part of a broader insurance package. HSBC offers mobile phone insurance through its Insurance Aspects product, which is available to existing customers with an HSBC Advance Account. This insurance covers loss, theft, and accidental damage, including liquid damage, for phones you own or are contractually responsible for. It's important to note that you may need to register your mobile phone in advance to streamline the claims process. Additionally, Insurance Aspects also include worldwide travel insurance and baggage cover. While considering phone insurance, it's worth exploring alternative insurance options, such as home and contents insurance, which can also provide coverage for your mobile phone in certain circumstances.
| Characteristics | Values |
|---|---|
| Who is eligible for HSBC mobile phone insurance? | Existing HSBC bank members with an upgraded account status to HSBC Insurance Aspect |
| How much does it cost? | £11.95 a month for those under 70 |
| What is the maximum protection value? | £2,500 with a compulsory excess of £75 |
| What does it cover? | Loss, theft, accidental damage, liquid damage, breakdown outside of warranty |
| What does it not cover? | Cosmetic damage, such as scratches |
| What else should I know? | You can register your mobile phones and make a claim online or by calling Likewize |
| Are there other insurance options? | Yes, HSBC offers home and contents insurance, as well as worldwide travel insurance for eligible customers under 70 |
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What You'll Learn
HSBC's mobile phone insurance requirements
To get mobile phone insurance from HSBC, you must be an existing bank member. You will also need to upgrade your account status to HSBC Insurance Aspect, which costs £11.95 a month if you are under 70. This insurance covers your device, battery, and charger for accidental damage, breakdown (outside of warranty), loss, and theft. HSBC recommends that you register your mobile phone in advance to make the claims process easier. You can register your mobile phone online or by calling Likewize.
HSBC's mobile phone insurance covers phones you own, including phone contracts where you will become the owner at the end of the contract or where you are contractually responsible for any damage to the phone. The insurance covers you for up to £2,500 on your device, with a compulsory excess of £75. If your phone is lost or stolen, HSBC will provide a replacement as soon as possible.
It is important to note that standard mobile insurance typically does not cover you outside of the UK. Additionally, some insurers may offer 'multi-phone' cover, where all phones in your household are covered under the same policy, but this may not include children's devices.
HSBC Insurance Aspects is currently not available for new customers to purchase. This information is for HSBC Advance customers who already hold an Insurance Aspects policy for worldwide travel insurance (for eligible customers under 70).
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What does HSBC's mobile phone insurance cover?
HSBC's mobile phone insurance covers accidental damage, liquid damage, breakdown (outside of warranty), loss, and theft. It also covers the battery and charger. HSBC offers protection up to the value of £2,500 on your device, with a compulsory excess of £75.
It is important to note that standard mobile insurance typically does not cover you outside of the UK, and HSBC's standard insurance is unlikely to do so. However, HSBC offers worldwide travel insurance for eligible customers under 70, which may include mobile phone insurance.
Additionally, while some insurers offer accessories cover for items such as memory cards, phone covers, cases, and chargers, HSBC's mobile phone insurance does not include this. Their policy only covers the device, battery, and charger.
To benefit from HSBC's mobile phone insurance, you must be an existing member of the bank and upgrade your account status to HSBC Insurance Aspect, which costs £11.95 per month for those under 70.
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How to make a claim on HSBC's mobile phone insurance
If you have mobile phone insurance with HSBC, you can make a claim by phone. The opening times for the phone line are 08:00 to 20:00, Monday to Friday, and 09:00 to 17:00 on Saturday and Sunday. The line is closed on Christmas Day, Boxing Day, and New Year's Day.
Before you call, make sure you have all the relevant details to hand. You may be asked for proof of loss or damage, or evidence that you own the phone. It's important to be honest about the extent of the damage, as overstating it could lead to your claim being rejected. Make notes about what is said during the call, and record the time and date.
You may also be able to make your claim online or by filling in a form, depending on the type of claim.
Standard mobile phone insurance typically covers you for loss, theft, and accidental damage. This includes liquid damage, although not all insurers cover this. If your phone has been stolen, you may need to report it to the police within 24 hours for the insurance to be valid. Accessories such as memory cards, phone covers, cases, and chargers may also be covered if they are lost, stolen, or damaged at the same time as your phone.
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Alternatives to HSBC's mobile phone insurance
Mobile phone insurance is not essential, but it is worth considering if you have an expensive smartphone and a monthly contract. If you are looking for alternatives to HSBC's mobile phone insurance, there are a few options to consider.
Firstly, you can explore dedicated mobile phone insurance providers. These are third-party insurers that specialise in offering mobile phone insurance. For example, Mobile Phone Insurance Direct (MPID) offers competitive rates and allows you to insure your device without needing to take out a full home insurance policy, as may be the case with HSBC.
Another alternative is to consider adding your mobile phone to your existing home insurance policy. Some home insurance plans may include mobile phones, but it is important to carefully review the coverage. Home insurance may not cover your phone outside of your home or provide an instant replacement handset. Additionally, standard home insurance policies may not offer worldwide coverage for your device if you travel frequently.
When considering alternatives, it is crucial to understand your specific needs and compare different insurance policies. Review what is covered, including loss, theft, and accidental damage, liquid damage, and repairs. Also, check if there is a compulsory excess fee and understand the process for making a claim.
Finally, you may want to explore insurance plans offered by your mobile phone network. These plans can be tailored to your device and may provide comprehensive coverage, including instant replacement phones and worldwide coverage.
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HSBC's mobile phone insurance vs. other insurers
If you are considering getting mobile phone insurance from HSBC, there are a few things you should know. Firstly, you will need to be an existing member of the bank to be eligible for phone insurance. Additionally, you will need to upgrade your account status to HSBC Insurance Aspect, which costs £11.95 a month if you are under 70 years old. This insurance will cover your device, battery, and charger up to a value of £2,500, with a compulsory excess of £75. It is important to note that this insurance will only cover your device within the UK.
When comparing HSBC's mobile phone insurance to other insurers, there are some differences to consider. For example, Mobile Phone Insurance Direct (MPID) offers insurance for £6.49 a month, which is significantly cheaper than HSBC's Insurance Aspect. Additionally, MPID provides £150 in accessories cover, including chargers, cases, and more, which is not included in HSBC's policy. MPID also offers Plus and Premium covers, which allow for unlimited claims during the policy period, which HSBC does not provide.
On the other hand, HSBC's home and contents insurance package can provide broader coverage for your phone and other belongings. While it may not cover the full cost of the latest iPhone or Samsung devices, you can add personal belongings coverage to your policy, protecting your valuables worldwide for an additional cost. This type of insurance may be a better option if you want to insure multiple items, not just your mobile phone.
Ultimately, the decision between HSBC's mobile phone insurance and other insurers depends on your specific needs and preferences. It is essential to carefully review the coverage details, pricing, and limitations of each policy before making a decision to ensure you have the right level of protection for your mobile phone.
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Frequently asked questions
To get phone insurance with HSBC, you must be an existing member of the bank and upgrade your account status to HSBC Insurance Aspect, which costs £11.95 a month if you’re under 70.
HSBC phone insurance covers your device, battery, and charger. It covers phones you own, including phone contracts where you will become the owner at the end of the contract, or where you are contractually responsible for any damage to the phone. It covers accidental damage, breakdown (outside of warranty), loss, and theft.
HSBC phone insurance does not cover accessories such as memory cards, cases, and phone covers. Standard mobile insurance is unlikely to cover you outside of the UK.
HSBC phone insurance costs £11.95 a month if you’re under 70. It offers protection up to the value of £2,500 on your device, with a compulsory excess of £75.
You can make a claim online or by calling Likewize. You will need the IMEI number of your mobile phone, which you can find by dialling *#06# on your phone’s keypad, on the box or your receipt, or by contacting your network provider.
