8% of us get it done within two weeks, while 20% can wait longer, holding out for up to six months before biting the bullet. A small number will hold out for over two years before replacing a phone - just 1.85% of the 2,000 people questioned in our survey*.
However, more than two thirds (68%) of those questioned owned up to not having any mobile phone insurance, and a further 8% were unsure if they’re covered. This is despite more than a quarter (26%) saying they couldn’t last a day without their handset.
Dan King, Nationwide’s Head of current accounts, said: “With new handsets being released all the time, the cost of replacing a handset could set people back over £1,000. For most, this will be a significant hit to your finances, or could mean you are left without a phone at all.
“But despite these risks, most people have no mobile phone insurance in place, meaning they would have to stump up the cost of replacing their phone themselves. It’s worth considering taking a good quality mobile phone insurance policy, such as that offered through Nationwide’s FlexPlus current account, to avoid ending up out of pocket.”
Nationwide’s FlexPlus current account offers a range of benefits including 3% AER (2.96% gross p.a.) variable in-credit interest on balances up to £2,500, commission-free cash withdrawals abroad, Worldwide Family Travel Insurance, Worldwide Family Mobile Phone Insurance and UK & European Breakdown and Recovery Assistance - all for £13 a month.
Exclusions and limitations apply, excesses may also apply so please read all the insurance policies and benefit details carefully.