Optus revamps device insurance policy

Optus today announced Yes Cover, a new one-size-fits-all device insurance policy for mobiles and tablets. Yes Cover is available to the telco's customers for $13 per month per device, covers both international and domestic usage and accidental damage and theft. The policy also has a flat excess structure: AUD$50 for accidentally damaged devices, AUD$150 for lost or stolen devices.

“Optus Yes Cover is all about giving our customers peace of mind. We know how much Australians love their phones," said Ben White, Optus' Vice President for Mobile Market. "But we also know disasters do strike. That’s why we’ve improved our device insurance to make it simpler, faster and easier for customers to get their devices fixed."

The new Yes Cover is a response to customers' feedback and requests for a simpler policy.

"Customers told us that our previous insurance policies were complex and didn’t cover what they needed. In fact, the old plans had 42 different excess claim types. With Yes Cover, we think we’ve got one of the best insurance options in the market,” said White.

Yes Cover can be cancelled at any time, but can only be purchased when buying a new device. Customers can make unlimited claims, and will have a replacement device within two business days of having their claim approved.

118,000 have made an insurance claim in the last 12 months. 75% claims were related to physical damage, 20% of claims were reported as lost, and 5% were reported as stolen.