SUPERCOVER INSURANCE
PRESS RELEASE
February 08, 2010.
iPhone-envy drives upgrade-replacement insurance fraud.
iPhone-envy is driving mobile phone insurance fraud “through the roof” according to a high-value-gadget insurer.
Carmi Korine, director of Supercover Insurance, says that as fast as new- generation iPhones come on to the market via retailers, older models are being lost, stolen or damaged in the knowledge that customers receiving replacements will be upgraded to the later version.
“iPhone insurance is the fastest-growing type of cover in the gadgets sector – no other product drives such demand for insurance; iPhone owners are 60% more likely to take out insurance than other mobile phone users, and, for the unscrupulous, £8.99 a month insurance is cheaper than £500 to buy the latest iPhone,” said Carmi Korine.
“While most customers take out insurance because they value their iPhone, we started to notice increases in claims as new and upgraded iPhones were launched – for short periods around new model or upgrade launches, claims for lost, stolen or damaged iPhones go through the roof.
“While some are genuine, we do get some bizarre claims – and some massively obvious scams. For instance, we ask claimants to send in their damaged iPhones for inspection – one we received was alleged to have been dropped, and then driven over by a car, but when our technical team pieced it back together they identified what appear to have been signs of at least six hammer blows.
“We’ve also been able to identify the patterns of shoe heels – again, multiple impacts – water damage including, rather alarmingly, the scent of toilet bleach drifting out of the packaging, and claims of fire damage which the claimant found very difficult to explain.
“The issue appears to be that most iPhone owners can only go for so long realising that they’re a generation behind the latest must-have spec before they resort to extreme measures; they can’t upgrade before their contract ends, so those who can’t wait will try practically anything to get back on level fashion terms with their friends.”
Supercover is a 15-years-established provider of insurance for consumer portable high-intrinsic-value products such as mobile phones, laptops and other gadgets, as well as spectacles.
Ends
Further information:
Iain Macauley
0161 929 0446/07788 978800
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