Lloyds Bank Mobile Phone Insurance: Which Accounts Include It and What It Covers

Which Lloyds accounts include mobile phone insurance

Mobile phone insurance at Lloyds Bank is not sold on its own. It comes as one of several bundled benefits inside two packaged current accounts, Club Lloyds Silver and Club Lloyds Platinum, alongside family travel insurance and AA Breakdown Family Cover. Silver costs £11.50 a month and Platinum costs £22.50 a month, with the Platinum tier offering higher travel insurance limits, cover for account holders up to age 80 rather than 65, and broader family travel scope, though the mobile phone insurance terms themselves are largely the same across both tiers. Two older account types, Select and Gold, also carry mobile phone insurance for existing holders, though neither is available to new customers, and Premier accounts opened before 2014 retain the benefit as well. Anyone on a fee-free Classic or standard Club Lloyds account without the Silver or Platinum upgrade does not have mobile phone cover and would need to upgrade the account or take out standalone insurance separately.

What the cover includes

Lloyds mobile phone insurance is administered by Lifestyle Services Group Limited and underwritten by Assurant General Insurance Limited, the same insurance partnership that underwrites equivalent phone cover for several other UK high street banks. The policy covers loss, theft, damage and mechanical breakdown worldwide, up to a maximum of £2,000 including VAT per successful claim, with a sole account holder covered for one phone and a joint account covered for two phones, one per named holder. On top of the core repair or replacement cover, the policy also pays out for unauthorised network charges run up after a phone is lost or stolen, up to £1,500 including VAT for pay-monthly contracts or £450 for pay-as-you-go, provided the charges occurred within 24 hours of the loss or theft being reported. Accessory cover is included too, up to £250 per successful claim, covering items such as chargers or cases that were lost, stolen or damaged alongside the handset. Phones belonging to an employer, rather than the account holder personally, are excluded from cover.

Excess and claim limits

Lloyds applies a flat £100 excess on every successful mobile phone insurance claim, regardless of the device's age, model or value, which differs from insurers that scale excess to the phone's worth. This means a five-year-old budget handset attracts the same £100 excess as a brand-new flagship model, which can make Lloyds cover comparatively less attractive for owners of lower-value phones and comparatively better value for owners of expensive devices. Account holders are limited to a maximum of two successful claims in any rolling 12-month period, after which further claims in that window will not be accepted regardless of the circumstances. Replacement handsets are sourced from refurbished or remanufactured stock rather than supplied new, which is standard practice across nearly all packaged bank account phone insurance policies and not unique to Lloyds.

How to make a claim

Claims are managed through Lloyds' packaged account benefits section, accessible via online banking or the mobile banking app under the account benefits menu, where policy documents, claim forms and contact details for the insurer are held. Registering a phone's details in advance, including the make, model and IMEI number, is recommended by Lloyds to speed up any future claim, though it is not a strict requirement to be covered. For loss or theft, the standard conditions apply: the incident must be reported to the police to obtain a crime reference number, and the network provider must be notified promptly to block the SIM and handset, both of which are typically required before a claim can proceed. Anyone whose claim is declined should read the guide on what to do when a phone insurance claim is rejected, which sets out the standard complaints and Financial Ombudsman Service escalation routes that apply across UK phone insurers.

Fee arithmetic versus standalone cover

Club Lloyds Silver at £11.50 a month works out at £138 a year, and Platinum at £22.50 a month comes to £270 a year, figures that only make sense against the value of the whole benefits bundle rather than the phone insurance alone, since both accounts also include family travel insurance and AA breakdown cover. A household that already has separate travel insurance and breakdown cover, and only wants phone protection, is likely to find a standalone mobile phone insurance policy cheaper for a single device, particularly for a lower-value handset where the flat £100 Lloyds excess weighs more heavily. Families who would otherwise buy travel insurance, breakdown cover and phone insurance as three separate products are the group most likely to see the packaged account pay for itself. For a side-by-side look at how Lloyds compares with Halifax and Nationwide's equivalent accounts, see the guide to packaged bank account phone insurance compared, and for standalone alternatives, the best mobile phone insurance in the UK hub covers the wider market.

Frequently asked questions

Does Lloyds Bank offer standalone mobile phone insurance?

No. Mobile phone insurance is only available bundled into the Club Lloyds Silver and Club Lloyds Platinum packaged current accounts, alongside travel insurance and breakdown cover.

What is the excess on a Lloyds mobile phone insurance claim?

The excess is a flat £100 on every successful claim, regardless of the device's age, model or value.

How many phones does a Lloyds joint account cover?

A joint account covers two phones, one for each named account holder, while a sole account covers one phone.

How many mobile phone insurance claims can you make with Lloyds?

Up to two successful claims are allowed per account holder in any rolling 12-month period.

Who underwrites Lloyds Bank mobile phone insurance?

The policy is administered by Lifestyle Services Group Limited and underwritten by Assurant General Insurance Limited.