Mobile Insurance Calculator
Is Phone Insurance Worth It?

Mobile Insurance Calculator — is phone insurance worth it?

How much does phone insurance cost?

Insuring vs self-insuring

The Mobile Insurance Calculator estimates the annual cost of insuring your phone and compares it to a typical screen repair, so you can decide if a protection plan is worth it.

Phone insurance typically costs 8-15% of the phone's value per year. On a ₹1,00,000 flagship, that's ₹8,000-₹15,000 annually. A screen replacement for that same phone might cost ₹15,000-₹30,000. For expensive phones you plan to keep, insurance can make sense; for a ₹15,000 budget phone, it usually doesn't.

Consider 'self-insurance': set aside what you'd pay monthly for insurance, and use it if you ever need a repair. For many people this is cheaper than paying an ongoing premium. Use this calculator to see the numbers for your phone.

Phone insurance vs self-insurance — which wins?

Self-insurance means setting aside the insurance premium yourself — typically ₹150-₹300/month for a ₹1,00,000 phone — and using that fund to pay for a repair if needed. Over two years you save ₹3,600-₹7,200 compared to the insurance premium, but you take on the risk of paying a large repair bill out of pocket.

For flagships over ₹60,000, formal insurance is often worth it because the premium is low relative to a ₹20,000-₹40,000 screen repair. For phones under ₹20,000, the insurance premium may be 20%+ of the phone's value — usually not worth the cost.

Use this calculator with the resale value calculator to work out whether the phone's remaining value justifies the insurance premium.

Is phone insurance actually worth it?

Insurance makes the most financial sense on expensive flagship phones where a single screen or back-glass repair can cost 20-30% of the device's value — the math is less favourable on budget phones where repairs are cheap relative to the premium.

Read the deductible carefully: a plan with a high deductible but low premium can end up costing more per claim than a slightly pricier plan with a low deductible, depending on how often you expect to claim.

Tips

• Insurance is most worth it on expensive flagship phones — the math is weaker on budget devices.
• Compare the deductible, not just the monthly premium — a cheap plan with a high deductible can cost more per claim.
• Check if your credit card already includes purchase protection or extended warranty — it may make separate insurance redundant.
• Read the claim limit — some plans cap total claims per year, which matters if you're accident-prone.

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