UK mobile operator Three has launched a new insurance option for consumers – Three Rescue. Following a report shared by the network detailing how British smartphone owners place a value of over £1,000 on the contents of their handheld devices. The insurance starts from just £2 a month with full cover for stolen, lost or damaged smartphones.
Not only do consumers pay for smartphones alone, but the data stored on devices can be worth a fair amount, especially if one considers just what people store within apps and on the cloud (with local access). Three Rescue enables customers on the network to safeguard their belongings and be provided with extra security options.
For an additional £20 fee upon claiming, customers can also receive a replacement device if they happen to be abroad. The extra security includes the locking of a smartphone (Android only), personal data protection, as well as sounding an alarm to track down a misplaced phone. Check out the full press release below.
Brits place a value of £1,117 on the contents on their smartphone, six times the amount of the actual phone.
Nearly half (47%) of people would rather lose their passport than their smartphone.
A third of Brits (38%) don’t know how to back up their smartphone.
Three launches Three Rescue - worry free insurance that will replace a stolen, lost or damaged device within 24 hours.
New research from mobile network Three has found Brits value the content of their smartphone at £1,117 – six times the value of the phone itself.
The research found that smartphone users place the most sentimental value on photographs, while their list of contacts came in second. These were followed by banking details, videos, work, music, films and then games.
Regarding photographs, the average Brit values their mobile snaps at £357. For women this figure goes up as far as £462 and over a fifth of females who have had their phone lost/stolen (21 per cent) admit to crying over it. Photos and videos can hold a huge amount of sentimental value to Brits, who on average store more than 100 of them on their device.
The news comes as Three launches Three Rescue offering peace of mind and worry-free insurance that will replace a stolen, lost or damaged device within 24 hours2. Of the people surveyed, over a third (38 per cent) of those with insurance have been forced to wait over a week before receiving a replacement handset.
Sylvia Chind, Head of Devices at Three, says: "A smartphone is no longer only a means of calling, browsing the internet and messaging people; it is the address book, photo album and video library of millions, so losing access to it through theft, damage or misplacement can feel like the end of the world. Three Rescuemeans that customers will get a new phone the very next day, allowing them to get back up and running, sharing the silly stuff that matters most."
Providing a clear indication of priorities, the findings reveal that nearly half of Brits (47 per cent) would rather lose their passport than their smartphone. The research also reveals that more than a third (38 per cent) of people don’t know how to back-up their smartphone data. The Three Rescue app makes this easy, allowing customers to back-up and retrieve all their precious content as if they had never even lost it.
Meanwhile, half of all parents (54 per cent) store photos of their children on their phone and do not back them up elsewhere. And, one in ten parents (10 per cent) have had their smartphones smashed by their children.
Commenting on the research, personal finance expert Sue Hayward comments, "Losing your device or having it stolen isn't just a practical inconvenience; it can have a huge emotional and financial impact on your life. For many of us, our phones are like a treasure chest for our memories. It’s now so easy to capture stunning photographs and videos in an instant so you should ensure you don’t run the risk of losing all those great moments."
Three Rescue starts from just £2 a month and offers transparent and easy-to-understand policies. For an additional £20 upon a claim, customers can also get a replacement device if they’re abroad.
The app also offers extra security, allowing customers to lock their phone (Android only) to protect personal data, sound an alarm to track down a misplaced phone and even see the location of a lost phone on a map. Please see here for Three Rescue full Terms and Conditions.