The United States mobile phone insurance market is currently witnessing strong growth. Mobile phone insurance provides financial assistance to smartphone users against expenses or losses incurred due to uncertain damages. It generally offers coverage for theft, accidental damage, malicious damage, water damage, manufacturing defects, cracked screens, high repair costs and broken buttons. Presently, the rising instances of theft are positively influencing the demand for mobile phone insurance in the United States (US).
The rising number of flagship mobile users represents one of the key factors escalating the demand for mobile phone insurance in the US. Moreover, key players are adopting Business Intelligence (BI) tools to monitor key performance indicators (KPIs) and gain insights into the latest trends. They are also introducing policies with varying monthly premium amounts and offering coverage based on individual requirements. Furthermore, several mobile phone insurance companies are collaborating with telecommunication operators to expand their market reach in other countries. For instance, Assurant, Inc., a US-based risk management product and service company, formed a partnership with KDDI Corporation, a Japanese telecommunication operator, to offer an enhanced mobile device support program. On account of these factors, the market is expected to continue its strong growth during the forecast period (2021-2026).
IMARC Group provides an analysis of the key trends in each sub-segment of the United States mobile phone insurance market report, along with forecasts for growth at the region level from 2021-2026. Our report has categorized the market based on region, phone type, coverage, distribution channel and end user.
Breakup by Phone Type:
Breakup by Coverage:
Breakup by Distribution Channel:
Breakup by End User:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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