Should you buy iPhone insurance? If you're worried about losing or damaging your iPhone, you're probably wondering just that. Here, we've got expert advice on the different iPhone insurance options and how to find the best insurance deal to suit you.

Apple's iPhones feature a stunning glass design that adds a whole new level of risk, particularly when you consider how high the price tags are (up to £1,149!). So now, there's even more reason to buy iPhone insurance. Our poll currently suggests that only 22% of you have iPhone insurance, but we wouldn't be surprised to see that figure rise as the new models, like iPhone 8 and iPhone X, make their way into the hands of consumers.

For more specific advice, take a look at Best insurance for iPhone X.

Consider the different types of cover

Before taking out a policy you need to think about how you use your iPhone, its value, and the risks. Most policies will cover for liquid, damage, and theft. It’s also worth considering add-ons like worldwide cover and phone replacement service (some insurers take longer than others), and the amount you’re willing to pay.

Weigh up risk versus price

As part of this consideration, you need to weigh up the cost against the likelihood of needing to take out a claim.

Remember that the monthly direct debit isn't the only price you will pay, but also the excess. The excess is the amount paid in the event of an accident or loss, and the amount varies among insurers.

For example, a policy from Protect Your Bubble costs £13.99 per month to insure up to 3 devices, but charges up to £90 excess in the case of damage or breakdown for an iPhone X (it goes up to £100 for loss or theft). Meanwhile Gadget Cover charges up to £75 excess for devices worth over £500. 

Policies with lower monthly costs often see excesses rise up to more than £100, which may not be worth it if the value of your iPhone is on the lower end; for instance, most insurance companies will cover the iPhone 6 range, which has a RRP of £449 for the 6s, and an even lower price for the standalone iPhone 6.

If you plan on keeping your phone for several years, you might want to invest in a two or three year plan from somewhere like Simple Insurance, which will keep costs down in the long term.

Look at multi-policy

You’ll often get a cheaper deal if you protect your iPhone in a multi-device policy. Vendors like Protect Your Bubble and Gadget Cover offer affordable – and flexible – packages which protect your smartphone, tablet, and PC.

Think outside the box

Think outside the box on who offers phone insurance. UK banks Barclays, Halifax, Nationwide, and NatWest offer insurance for mobile.

Some of these banks will cover two iPhones on joint bank accounts but beware policies and the level of protection will vary.

Your mobile network might offer phone insurance too. EE, O2 and Vodafone each offer instant phone replacement insurance, for example.

What have you already got?

There’s a tendency to think that you must get insurance as soon as you’ve bought the latest iPhone. Or, at least, that’s the message from carriers who would prefer you to use their insurance services. And while, yes, an affordable and comprehensive policy wouldn’t go amiss, it is sometimes worth looking closer to home.

For instance, should your iPhone break down within the 12-month warranty period, Apple will cover you for manufacturing defects. AppleCare+ users will also be able to replace an iPhone if it has suffered accidental damage. AppleCare+ charges an excess fee of £25 for screen damage and £79 for other damage. Here's how to find out if Apple will replace your iPhone for free.

Another avenue is including your phone under home contents insurance. You could add your iPhone to your policy by opting for it to include personal possessions cover, which applies to items lost, stolen, or damaged in the home. Be careful, though – home insurance excess fees are usually higher and could result in higher future premiums.

Beware loopholes in terms and conditions

Most standalone policies are reasonable, but some have small loopholes with big repercussions – the Financial Conduct Authority (FCA), which regulates businesses, has previously reported that many mobile insurers have misleading terms and conditions.

For example, some firms would promise to cover the loss of a phone but would not actually do so if the customer accidentally forgot his or her phone in a taxi, for example. The FCA found descriptions of coverage were phrased vaguely or ambiguously, such as the definition of "public space". This affected whether claims were ultimately accepted.

According to the FCA report, one customer's claim was rejected because she had forgotten her phone in a hotel. The insurer classified the hotel room as public place once the customer had already checked out, which excluded the claim from coverage. You can see the FCA's follow up report here.

A few insurers don’t protect iPhones from computer viruses, though that's a minor concern on iOS, and a handful will only cover theft and unauthorised data costs if reported within 12 hours.