Mobile Phone Insurance Market Report 2026

The mobile phone insurance market size has grown rapidly in recent years. It will grow from $39.15 billion in 2025 to $43.68 billion in 2026 at a compound annual growth rate (CAGR) of 11.6%. The growth in the historic period can be attributed to rising smartphone penetration rates, increasing cost of device repairs, growth in premium smartphone sales, expansion of mobile retail channels, higher consumer awareness of device protection.

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.

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 market.

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.

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.

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.

North America was the largest region in the mobile phone insurance market in 2025. Asia-Pacific is expected to be the fastest-growing region in the global mobile phone insurance market during the forecast period. The regions covered in the mobile phone insurance market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the mobile phone insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

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.

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.

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