The rising number of flagship smartphone users and the growing incidences of accidental damage, phone thefts, and device malfunction are primarily driving the United States mobile phone insurance market. Furthermore, mobile phones are highly prone to physical damages and technical glitches, and the rising costs of smartphones are encouraging consumers to opt for mobile phone insurance policies. Moreover, several key players are improving their policies with features, including data protection, recovery, and extensive technical support throughout their insurance claim, etc. Many insurance companies are introducing policies with varying monthly premium amounts and offering coverage based on individual requirements. Additionally, they are also collaborating with telecommunication operators to expand their customer base. All of these above-mentioned factors will continue to drive the market for mobile phone insurance in the U.S. over the coming years.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
United States Mobile Phone Insurance Market 2021-2026 Analysis and Segmentation:
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The report has segmented the market on the basis of Phone Type, Coverage, Distribution Channel, End User and Region.
Market Breakup by Phone Type:
- New Phone
- Physical Damage
- Electronic Damage
- Virus Protection
- Data Protection
- Theft Protection
- Mobile Operators
- Device OEMs
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