Have smartphone? Here is how to save yourself from loss
The premium amount for insuring your iPhone depends on your Insurer and the policy you opt for. Typically, service warranties cover only device malfunctions, whereas an insurance policy will cover the cost of replacing or repairing your phone if it is lost, damaged, or stolen.
Out of warranty malfunction may also be covered in an insurance policy, depending on the policy terms. Representational Image, source: Reuters