Ofcom says 92% of adults in Britain own or use a mobile phone – that’s around 50million of us – and the FCA report notes that, for many young people, MPI is their first exposure to the world of insurance.
It’s an increasingly popular product, says the FCA, but its findings suggest there’s a gap between what’s actually being sold and what phone users think they’re buying.
The FCA’s investigation of nine unnamed firms found some policies weren’t designed to meet the needs of consumers, and that their terms and conditions were not always clear or fair.
It also found examples of poor sales practices, slow and unfair claims handling and, finally, that some firms aren’t following complaints handling rules.
The watchdog is going to work with consumer groups, firms and industry bodies to sort it all out, but forewarned is forearmed – so let’s look at what you need to know when buying mobile phone insurance.
What are my options?
You’ve got a shiny new smartphone and you want to keep it safe. Insurance is a good idea, but there are a few different insurance options to choose from – so which is best?
Basically, there are four
None of this official, and the NFC and fingerprint scanning rumours have certainly come up once or twice before, but various sources appear to be reaching the same conclusions about the new handset.
Whenever the 5S arrives and whatever new tech it features, it’ll surely run on Apple’s new iOS7 operating system (also launching this autumn) which is a departure from what we’ve seen from Apple so far, with a ‘flatter’, more two-dimensional design than its predecessors.
Beyond a lick of paint, iOS7 has an overhauled interface, changing the way you interact with the phone. From unlocking the phone to messaging and web browsing, everything has been given a new look and feel.
Then there’s the altogether-more-interesting budget iPhone that’s been rumoured for a while, and seems to gaining credibility as more and more pictures are leaked online.
It looks as though Apple wants to appeal to new customers who don’t want to pay the iPhone premium by replacing its shiny aluminium chassis with polycarbonate plastic, which will be cheaper to produce and should result in a lower price tag.
It’s thought to be the same size and spec as the iPhone 5 and running
Worn on the wrist like a watch, but with features typically found on a smartphone, the Galaxy Gear lets you make and receive calls by holding your wrist up to the side of your face and talking into the strap.
It’s got the jump on Apple and its long-rumoured iWatch, but is the world ready for wearable tech yet? And are people really going to talk to their wrists? Samsung thinks so.
Here’s a look at the Galaxy Gear smartwatch and what it can do….
On the face of it
The watch’s face is a 1.63inch (320 x 320 pixels), full colour AMOLED* touchscreen, which you use to control the Galaxy Gear. It comes in a range of six colours, from a conservative, all-black model to ‘Wild Orange’ and ‘Lime Green’.
*active-matrix organic light-emitting diode, since you ask
As well as showing you the time (it is a watch, after all) you can make and receive calls using the Gear’s in-built speaker and microphone once it’s paired with certain Samsung smartphones (more on that in a moment).
To make a call, you’ll select a contact from your phone’s contact list on the Gear itself. You then lift your hand