Mobile insurance – trying to find acceptance in France
81% of French people have a bad opinion of mobile insurance according to a study carried out by Coverd among a panel of French people interested in telephony insurance.
Buying a smartphone these days is a big expense. And to protect against setbacks such as breakage or theft, it's always advisable to insure it. Insurance is not only offered by operators, but also by French and international companies when buying a phone. In spite of this, French people still seem reluctant to take out insurance for their mobile. This is due to a lack of transparency, high prices, or too complicated cancellations. Insuring one's phone quickly becomes a headache.
Coverd, the first French insurtech specializing in smartphone coverage, has decided to take an interest in these new behaviors and draw conclusions. Indeed, why are the French so reluctant? What are the lessons to be learned?
Coverd highlights three revealing facts to better understand these new behaviors. Some important figures:
Only 19.4% of the French have mobile insurance
While you may be required to insure certain valuables such as a house or a car, insuring your smartphone is always optional. However, today, the prices of the latest smartphones often exceed €1,000. It is a real investment in an object that accompanies us every day. With such a price tag, breaking your mobile phone or having it stolen quickly becomes a constraint. However, according to this study carried out by Coverd, 80.6% of French people have not taken out mobile insurance. Whether due to distrust or lack of information on the part of insurers, the results prove that the French have not yet taken the plunge and are not ready to do so.
80.6% have an unfavorable opinion of mobile insurance
Mobile insurers have a bad image amongst the public. Indeed, according to this study, only 19.4% of French people have a good opinion of insurance. If 64.5% of the French think that the price of this type of insurance is too high, this is not the only opinion to be addressed. 48.4% find it difficult to understand the limits of their guarantee, while 41.9% find that the offers are too non-transparent. A bad reputation which forces the French to take their chances and buy a telephone at full price rather than trust the insurers.
33.3% have used online insurance
Hindered by the insurance offered by their operator, 33% of French people have chosen to trust online insurers such as Coverd. Indeed, thanks to a more transparent and non-committal service, the French have taken the step of trusting this new generation of insurers.