LCL and SPB have innovated with the launch of the
first policy to cover all of a policyholder’s mobile electronic devices Consumers are ever more footloose, yet their mobile electronic devices are only partially insured. So the French bank LCL teamed up with SPB in May to offer an “All Mobile Devices” insurance policy. This comprehensive product, aimed at customers or homes equipped with mobile electronic devices such as cell phones, computers, MP3/MP4 players, digital cameras and video recorders, DVD players, and so on, provides worldwide cover against theft outside the home, fraudulent cell phone use and accidental material damage to all of the policyholder’s mobile devices, with no deductible payable by the client. The maximum annual indemnity is €400 for a cell phone (€250 to cover “fraudulent use”), and €1,800 for the other mobile electronic devices, with a limit of two claims or four mobile devices. SPB’s innovations • The policy replaces a stolen or broken device for its full replacement value. • All of a policyholder’s mobile electronic devices less than five years old are covered. • The policy covers all of a household’s devices purchased both before and after the policy’s start date. • No need to list devices beforehand. • An expert unit to advise claimants on their choice of replacement device. • The replacement device is delivered directly to the policyholder’s home.
