Lydia launched the first mobile phone insurance with the help of the company’s partner, investor CNP Assurances.
The Lydia’s insurance for mobile phone will be seen in the app itself. Users will have their insurance for their phone when its screen was cracked, has a liquid damage and accidental damage. The new insurance will only have a limited claim for every user per year. The insurance also includes user’s laptop, tablet, Nintendo Switch, Kindle, camera, and other gadget are covered. Premium subscribers will have a discount.
The subscription is for $4.89 per month and when it comes with a better insurance the price will starts with $11.39 per month. If a user wants to claim two times per year, it will cost $571.76 for the phone and $2058.34 for other devices. For the latest iPhone X, the insurance price will start at $10.92 but if the user has a Revolut Premium account, it will only cost $7.60.