Smartphones insurance is not profitable

Insurers are alarmed at the losses caused by mobile phones. Iphones are blamed for these poor results because of the frequency of claims pertaining to their theft or breakage which has risen sharply. Losses affecting the standard type of phones reached 20% while those pertaining to smartphones rose to 35%.

Moreover, the average cost of smartphones has increased from 300 to 600 EUR (437 to 874 USD). The total bill for all telephony operators is close to 400 000 EUR (582 672 USD) for repairs and 200 000 EUR (291 338 USD) for thefts. According to some estimates, one third of claim reports were unfounded.