T-Mobile may be raising insurance rates

Mobile Insurance

T-Mobile Insurance Rates Insurance IndustryT-Mobile could be pushing higher insurance rates next year

Insurance coverage for mobile devices is becoming increasingly common and more comprehensive, especially as more consumers come to rely on their mobile devices in their daily lives. Smart phones represent a significantly costly investment for a wide range of people and are well-loved by many because of the features they offer. Smart phones are also popular targets of theft because of the information they contain and some are notoriously fragile. T-Mobile customers may see the insurance rates for their mobile devices rise next year, according to a leaked internal document.

Company may be gearing to face higher costs associated with high-end mobile devices

T-Mobile, like other companies in its industry, offers insurance coverage for its mobile devices. The policies offered by the company vary in the benefits they provide customers as well as cost. The company has been seeing a growing interest in its high-end mobile devices, such as smart phones and tablets, and seems to be preparing to adjust to the higher risks these devices represent. Repair costs for such devices can easily get out of control and these costs could be exponentially higher if a device is stolen and a consumer’s important information is exploited.

Leaked document points to higher deductibles

According to the leaked document, which has yet to be proven accurate in any way, T-Mobile insurance plans will remain largely the same in terms of monthly insurance premiums. Deductibles, however, are set to rise across the board. For most of the company’s smart phones, standard deductibles will rise from $130 to more than $150. The cost associated with replacing a broken or stolen mobile device is also expected to jump up $10.

T-Mobile keen on introducing insurance policies for specific high-end devices

T-Mobile has yet to confirm that it plans to increase the rates of its common insurance policies, but the company has said that high-end mobile devices, such as the Galaxy Note 2, will have their own tier of insurance coverage that consumers will have to purchase. Any new insurance rates coming from the company are expected to take effect in March of 2013.

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