Mobile Phone Insurance Market Report 2026

Mobile Phone Insurance Market Overview

• Mobile Phone Insurance market size has reached to $39.15 billion in 2025 • Expected to grow to $67.33 billion in 2030 at a compound annual growth rate (CAGR) of 11.4% • Growth Driver: The Increasing Incidents Of Phone Thefts Fueling The Growth Of The Mobile Phone Insurance Market Due To Rising Device Loss And Replacement Costs • Market Trend: Forge Partnerships To Navigate Emerging Digital Risks • North America was the largest region in 2025 and Asia-Pacific is the fastest growing region.

The key promising market opportunities in the mobile phone insurance market include: • Personal (Segmentation By End-User) → Expected gain of $23355.24 Million • Premium Smartphones (Segmentation By Phone Type) → Expected gain of $21055.51 Million • Online (Segmentation By Distribution Channel) → Expected gain of $11311.05 Million

What Is Covered Under Mobile Phone Insurance Market?

A mobile insurance policy provides protection against a variety of risks and harm to the phone. Mobile phone insurance is used to help the owner protect themselves from expensive repair costs when a mobile phone is damaged due to an accident. The major phone types for mobile phone insurance are budget phones, midrange and high-end phones, and premium smartphones. A budget phone is one that has all of the best specifications for the money. There are coverages including physical damage, internal component failure, theft and loss protection, virus and data protection, and other coverages in some distribution channels such as mobile operators, device OEMs (original equipment manufacturers), retailers, online, and other distribution channels with end-users that involve corporate and personal relationships.

What Is The Mobile Phone Insurance Market Growth Forecast?

The mobile phone insurance market size is expected to see rapid growth in the next few years. It will grow to $67.33 billion in 2030 at a compound annual growth rate (CAGR) of 11.4%. The growth in the forecast period can be attributed to increasing adoption of embedded insurance models, growing use of ai-driven claims automation, expansion of online insurance distribution, rising demand for premium device coverage, increasing focus on fraud prevention. Major trends in the forecast period include increasing demand for comprehensive smartphone protection plans, rising adoption of subscription-based insurance models, growing integration of digital claim processing, expansion of theft and loss coverage offerings, enhanced focus on customer-centric policy customization.

What Is The Driver Of The Mobile Phone Insurance Market?

The increasing incidents of phone thefts are expected to propel the growth of the Mobile Phone Insurance market going forward. Phone thefts refers to the criminal act of stealing or unlawfully taking possession of a person’s mobile phone or smartphone device. The increase in phone thefts is due to heightened urban crime rates and the expanding global base of high value smartphones, which thieves find easier to resell, leading to more frequent targeting of these devices. Mobile Phone Insurance supports victims of phone theft by providing financial coverage for device replacement or repair, reducing the direct monetary loss to the insured and helping maintain continuity of communication and services after a theft. For instance, in June 2025, according to the Metropolitan Police Service, a United Kingdom–based territorial police force responsible for policing Greater London, recorded mobile phone thefts increased from 115,261 incidents in 2023 to 117,211 incidents in 2024. Therefore, the increasing incidents of phone thefts are driving the growth of the Mobile Phone Insurance industry.

How Will The Drivers Impact Growth In The Global Mobile Phone Insurance Market?

• Growing Use Of Smartphones (Low) – The growing use of smartphones will become a key driver of growth in the mobile phone insurance market by 2030. As smartphones become increasingly essential in daily life for communication, work, entertainment, and financial transactions, their value and importance have risen significantly. This widespread adoption leads to a higher likelihood of accidental damage, theft, or loss, prompting consumers to seek protection through insurance. As a result, the growing use of smartphones is anticipated to contributing to annual growth in the market. • Increasing Urbanization (Low) – The increasing urbanization will emerge as a major factor driving the expansion of the mobile phone insurance market by 2030. In urban areas, higher population density and a fast-paced lifestyle increase the risk of phone theft, damage, or loss due to frequent usage and commuting. Additionally, urban dwellers often have higher disposable incomes and are more tech-savvy, making them more likely to invest in smartphones and protective services like insurance. As a result, the increasing urbanization is anticipated to contributing to annual growth in the market. • Rise Of Digitalization (Low) – The rise of digitalizations will serve as a key growth catalyst for the mobile phone insurance market by 2030, As more aspects of daily life move online, consumers increasingly rely on digital platforms for purchasing and managing mobile phone insurance. Digitalization enables insurers to offer personalized policies, quick online claims processing, and automated customer support through apps and websites. Additionally, digital tools facilitate seamless integration of mobile phone insurance with smartphone purchases and digital payment systems, making it more convenient for consumers to protect their devices. As a result, the rise of digitalizations is anticipated to contributing to annual growth in the market. • Expansion Of Insurtech Sector (Low) – The expansion of insurtech sector will become a significant driver contributing to the growth of the mobile phone insurance market by 2030 Insurtech companies leverage technology to streamline the insurance process, from simplified policy purchases and claims filing to personalized offerings and real-time customer support. Through mobile apps and digital platforms, insurtech companies can offer tailored mobile phone insurance policies, enhancing convenience and user experience. As a result, the expansion of insurtech sector is anticipated to contributing to annual growth in the market. • Expansion of E-commerce Platforms (Low) – The expansion of e-commerce platforms will become a significant driver contributing to the growth of the mobile phone insurance market by 2030 As more people purchase smartphones through online retailers, these platforms often offer insurance options as an add-on during the checkout process, making it convenient for consumers to protect their devices at the point of purchase. Additionally, the rise of e-commerce increases the visibility of mobile phone insurance providers, allowing consumers to compare different plans, read reviews, and make informed decisions from the comfort of their homes. As a result, the expansion of e-commerce platforms is anticipated to contributing to annual growth in the market.

How Will The Restraints Impact Growth In The Global Mobile Phone Insurance Market?

• Economic Downturns (Low) – Economic Downturns will restrict the growth of the Mobile Phone Insurance market during the forecast period. Mobile phone insurance is a discretionary purchase sensitive to changes in consumer spending. Economic downturns can lead to reduced insurance uptake and policy cancellations. Lower disposable income may cause consumers to forgo insurance coverage, limiting market growth.

Key Players In The Global Mobile Phone Insurance Market

Major companies operating in the mobile phone insurance market are Apple Inc., AT&T Inc., American International Group Inc., SoftBank Corp, Liberty Mutual Insurance Company, Orange S.A., The Chubb Corporation, Xiaomi Corporation, Singapore Telecommunications Limited, Assurant Inc., Brightstar Corp, Telefónica Brasil S.A., AmTrust Financial, Asurion LLC, Taurus Insurance Services Limited, Bolttech Management Limited, U Mobile Sdn Bhd., Servify, Digital Care Sp. z o.o., CoverCloud Insurance, GoCare Warranty Group, OPPO Electronics Corp, Better Buy Insurance Co, Pier Insurance Managed Services Ltd.

Global Mobile Phone Insurance Market Trends and Insights

Major companies operating in the mobile insurance policy market are adopting a strategic partnership approach to enhance the accessibility of insurance products while addressing emerging risks from customers' digital lifestyles. A strategic partnership is a collaborative agreement or alliance between two or more entities, such as companies, organizations, or governments, with the aim of achieving mutually beneficial objectives. For instance, in October 2023, Igloo Pte. Ltd., a Singapore-based insurance company, partnered with Oppo, a China-based consumer electronics company. With this partnership, these companies aim to provide after-sales services and insurance protection plans for mobiles. It includes offering screen protection, an extended warranty, an accidental warranty, and screen damage protection plans.

What Are Latest Mergers And Acquisitions In The Mobile Phone Insurance Market?

In October 2023, Bolttech Management Limited, a Singapore-based insurance company acquired Digital Care for an undisclosed amount. This acquisition aligns with Bolttech's strategy to strengthen its digital insurance offerings and enhance its insurtech capabilities. By merging resources, Bolttech seeks to provide more comprehensive and innovative insurance solutions. Digital Care is a Poland-based provider of mobile insurance solutions.

What Defines the Mobile Phone Insurance Market?

The mobile phone insurance market includes revenues earned by entities by theft protection insurance, accidental breakage insurance, water and liquid damage insurance, and other related products. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

How is Market Value Defined and Measured?

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

What Key Data and Analysis Are Included in the Mobile Phone Insurance Market Report 2026?

The mobile phone insurance market research report is one of a series of new reports from The Business Research Company that provides market statistics, including Market Report 2026?global market size, regional shares, competitors with the market share, detailed market segments, market trends and opportunities, and any further data you may need to thrive in the mobile phone insurance Market Report 2026? The market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the Market Report 2026?