Looking for insurance cover for your phone?

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Mobile insurance here is used to refer to the concept of insuring your mobile phone – usually to cover theft and fire. As far as I can tell from my findings, a significant number of mobile subscribers are enthusiastic about the idea if it comes at a “good price”. However, I am yet to speak with one insurer that is remotely excited about it. Every time I have raised the subject with an insurer, enthusiasm drops and their response is a cautious one.

The few companies that offer insurance cover for mobile phones lump it up with other insurance products e.g. home/household cover. In other words, if you insure your home and property, you can include your mobile phone. But you cannot insure your mobile phone alone. Why are insurers wary of covering mobile phones alone? I have spoken with professionals from three major insurance companies in the country, and the feedback is generally the same.

The feedback I have received from insurers include how phones can easily go missing or messed up by mishandling. There is a general mistrust of Nigerians to tell the truth about what really happened to their phones in such cases. There is also the fear that the they would end up spending more on claims than revenue from insuring the devices in the first place. The summary is that no insurance company in Nigeria is willing to push standalone insurance cover for mobile devices. Yet.

For now, if you want insurance cover for your phone, what you can do is take a home/household cover or an office equipment cover and include your phone in the list of items covered. One thing is clear though: there is a market for mobile phone insurance, and whatever insurance company it is that cracks that market is in for huge takings.


  1. I doubt any Insurance company would.want.to insure mobile.devices …alone…for.the fact that this is Nigeria…

    The.problem.is.not with the fact that it can get damaged or go missing, or get stolen too easily.

    The.problem is the high possibility of criminally minded people taking advantage, and abusing the process.

    If someone.insures a N100k Lumia, pays the first premium, then declares it.missing, how does the Insurance company prove otherwise.? The.phone may very well NOT be.missing! The.Insurer is.left to carry the can. We can be sure the Insurer will continually incur.losses..

    One.way.to mitigate (to some.extent)against phones getting stolen is.for.The Networks to implement device blocking based on IMEI..

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