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The Protection You Need, Insuring Against The Unexpected

Written By Anika Tabassum

Understanding Mobile Phone Theft Insurance and Damage Coverage Options

Have you ever experienced the feeling of dread when you realize you've lost or damaged your phone? That sinking feeling in your stomach, the frustration of being disconnected from the world, and the worry of the cost to replace or repair your device. It's an all too common scenario in today's world, as according to a study conducted by the Bangladesh Mobile Phone Business Association, around 1.5 million smartphones are lost or stolen in Bangladesh every year. In this blog post, we'll explore the differences between mobile phone theft insurance and damage protection plans, and why it's important to understand your options when it comes to insuring your phone.

A report by The Daily Star found that the number of mobile phone thefts in Bangladesh has increased by 150% over the past three years, with Dhaka being the most common location for thefts. Mobile phone insurance typically covers the cost of repairing or replacing a damaged, lost, or stolen phone. This type of insurance is typically purchased separately from the phone itself (but at the same time of purchasing), and can cover accidental damage, theft, and other types of losses.

The cost of repairing a damaged smartphone in Bangladesh can range from BDT 1,000 to BDT 30,000, depending on the extent of the damage and the phone's make and model. The most common causes of smartphone damage in the country are drops, followed by liquid damage and scratches. Given the situation, it is a smart decision to get a damage protection plan for our devices. Damage protection plans are sometimes offered by manufacturers or retailers and provide limited coverage for accidental damage. This type of coverage may also cover repair or replacement costs, but is often limited in scope and duration. No matter the case, with InstaSure you can now insure your phone even if your manufacturer is not providing insurance.


Mobile phone insurance and damage protection plans are two different types of insurance coverage for mobile phones. Here are some key differences between them:

  • Coverage: Mobile phone insurance provides more comprehensive coverage than damage protection plans. Mobile insurance policies cover accidental damage, theft, and loss, while damage protection plans may only cover accidental damage.
  • Cost: The cost of mobile phone insurance and damage protection plans can vary widely depending on the policy and the phone's make and model. Mobile phone insurance may typically cost more than a damage protection plan, which is often offered at the time of phone purchase.
  • Deductible: Mobile phone insurance policies often require the payment of a deductible, which is the amount that you will pay out of pocket in the event of a claim. Damage protection plans may also have a deductible, but this may be waived or reduced if the plan was purchased at the time of phone purchase.


Days since you bought the insurance

Discounted price

0-30 days

Not eligible for claim

31-90 days

90% of your insured money

91-180 days

80% of your insured money

181-270 days

70% of your insured money

271-365 days

60% of your insured money


  • Claims process: The claims process for mobile phone theft insurance and damage protection plans can vary depending on your location and type of insurance you are trying to claim. To claim theft insurance, you may need a copy of FIR as a proof of your stolen device. On the other hand, a damage protection plan can be claimed only with the NID that was used at the time of buying the insurance. Make sure to understand the process for filing a claim and the expected turnaround time for repairs or replacement.
  • Exclusions: It's important to understand the exclusions for both mobile phone insurance and damage protection plans. Some policies may exclude coverage for intentional damage or loss, or for damage caused by certain types of events or conditions.

In conclusion, mobile phone theft and damage can happen to anyone, at any time, and can result in significant financial loss. With the increasing prevalence of these incidents, it is essential to take steps to protect your phone and your investment. Both mobile phone insurance and damage protection plans can provide coverage for accidental damage, but mobile phone insurance offers more comprehensive coverage. Before purchasing either type of coverage, it is important to understand the coverage offered, the cost, the deductible, the claims process, and any exclusions. By taking the time to research and choose the right insurance or protection plan for your mobile phone, you can have peace of mind knowing that you are prepared for the unexpected. Don't wait until it's too late - always insure your phone with InstaSure and protect yourself from the unexpected.