The policy is called 3Cover and offers protection and 48-hour replacement service on 3 handsets and broadband modems. 3 will be responsible for selling the policies and LSG will be responsible for claims. LSG is part of the 4U group and already provides handset insurance for a range of banks and supermarket MVNO’s.
Customers that take out a policy will be covered for loss, accidental or malicious damage, water or liquid damage, electrical faults and theft. However, customers are not covered for theft of airtime.
3Cover is priced at £5.99 per month for handsets and £3.49 a month for broadband modems and policies will initially only be available at 3 stores.
3 head of insurance products Ian Pillinger said: “LSG’s mobile phone industry experience and expertise make them the right partner for 3 as we look to provide a comprehensive insurance offering to our customers. The scale of LSG’s operation allows us to develop a range of offers, confident that the infrastructure is in place to deliver them for our customers.”
Managing director Simon Markey added: The successful launch of 3Cover is the result of intensive work by teams in both 3 and LSG. I’m confident that with 3’s strong brand and LSG’s insurance capabilities, the partnership will be a great success.”