Hi there. My phone was stolen and I was quite sure I am insured against theft until I checked the simpleinsurance website. Apparently, phone theft protection is an ‘additional option’… But I don’t remember Revolut offering me any additional options. However, I know they will cover ‘third-party damage’ - is theft included in that?
No, it’s not covered at all, unfortunately
We haven’t included loss or theft as we don’t believe it provides good value for our customers for the following reasons:
- Apps such as Find-my-iPhone allow customers to completely lock their device, which means that genuine Loss/Theft cases are now very rare.
- There are a lot of fraudulent claims for Loss/Theft which are hard to prevent. This means that genuine customers are forced to pay very high prices for loss/theft insurance.
- The user experience is complex and inconvenient, with trips to a police station required.
I went to the police and have all the required paperwork. I locked the phone via Find My Phone - I guess the person who has it can now only sell it for parts?
I will probably use a different insurance company in the future.