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iPhone must-have crowd inflates UK gadget insurance claims

Insurer reckons new models push up fraud

Internet Security Threat Report 2014

Apple gizmo fans are committing more insurance fraud in a move to upgrade their iPhones to the latest model, a UK insurer has claimed.

Supercover Insurance said claims for iPhones would typically shoot up 50 per cent during the month in a which a new model was released.

It said that four out of 10 claims made during such a period were fraudulent. The company claimed that some people deliberately trashed their phone to ensure they got an upgrade to the latest iPhone model.

"While most customers take out insurance because they value their iPhone, we started to notice increases in claims as new and upgraded iPhones were launched," said Supercover director Carmi Korine.

"For short periods around new model or upgrade launches, claims for lost, stolen or damaged iPhones go through the roof.

"The issue appears to be that most iPhone owners can only go for so long realising that they're a generation behind the latest must-have spec before they resort to extreme measures."

According to the firm, the iPhone was the fastest growing type of insurance cover within the gadgets sector in the UK. Around 60 per cent of iPhone owners were more likely to take out cover than other mobile phone users, it said.

Supercover claimed that around 40 per cent of insurance claims it received around the launch of a new mobile model were potentially phoney. The company typically ditches around a quarter of all such claims. ®

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