TSB Mobile Phone Insurance: Platinum Account Cover Explained

Which TSB accounts include phone insurance

TSB stopped selling packaged accounts with phone insurance some years ago, so the cover now exists only for customers who kept a legacy Added Value Account. The flagship is the Platinum account, including its Platinum Plus and Platinum Enhance variants, at a fee of £22 a month, with Premier and Select accounts holding equivalent structures at their own fee levels. TSB's current range, the fee free Spend and Save and the £3 a month Spend and Save Plus, includes cashback, savings pots and fee free spending abroad, but no insurance benefits of any kind. That distinction matters for anyone comparing accounts, because the TSB name still surfaces in phone insurance searches even though nothing on sale today at TSB answers them. A customer wanting bank sourced phone cover as a new purchase has to look at other providers entirely, and the packaged accounts still open to new business are compared in the guide to packaged bank account phone insurance. Existing Added Value Account holders can keep their cover for as long as they keep the account, and TSB's own pages confirm the accounts continue to operate with their full benefit sets.

What the Platinum phone policy covers

The Platinum mobile phone insurance covers one phone for sole account holders and two phones for joint account holders, in the UK or abroad. Each handset is covered up to a maximum original retail cost or value of £2,000 including VAT, and the policy pays for repair, or replacement where the phone is lost, stolen or cannot be fixed. Replacements may be supplied from reconditioned stock, which is standard practice across bank packaged policies and worth knowing before a claim rather than after it. The policy also covers the cost of unauthorised calls made on a lost or stolen phone, up to £1,500 for contract phones and up to £450 for pay as you go handsets, a meaningful protection given how quickly call and premium rate charges can accumulate on a stolen device. Cover follows the account holder rather than a registered handset, and joint accounts can hold up to two insured account holders, though other named parties on the account do not benefit from the insurances. The policy sits alongside Aviva worldwide family travel insurance and AA breakdown cover in the same £22 fee, which is how the account's value has to be judged.

Excesses and the premium claim services

Every successful claim carries an excess, set by handset type under the policy terms, and TSB layers two optional premium services on top for customers who want speed or convenience. The collect and repair service, where the phone is collected, repaired and returned, adds a £50 service fee above the excess. The same day replacement service, where a replacement device arrives the same day the claim is accepted, adds £30 above the excess. For accidental damage claims there is also a free option: a printable prepaid DPD label to send the phone in for repair at no charge. The excess arithmetic deserves attention before claiming. On a mid range handset, a screen repair through an independent shop can cost less than the excess plus a premium service fee, which makes the policy most valuable for total loss events on expensive handsets rather than minor damage. Anyone whose claim is rejected has the standard regulated route available, set out in the guide to rejected phone insurance claims: a formal complaint to the insurer, then the Financial Ombudsman Service after eight weeks or a final response.

How Platinum compares with accounts still on sale

Because the Platinum account is closed, the live comparison for anyone shopping today is between keeping a legacy TSB account and switching to a packaged account still sold elsewhere. Nationwide's FlexPlus charges £18 a month and covers phones belonging to the whole family at the same address, up to £2,000 per claim, where TSB's Platinum covers one or two named account holders' phones for £22. The family scope difference is decisive for households with children carrying handsets, and the FlexPlus policy detail is set out in the guide to Nationwide FlexPlus mobile phone insurance. Against that, TSB's bundle includes AA breakdown cover with National Recovery and At Home assistance, which FlexPlus matches with its own UK and European breakdown benefit, and Aviva travel cover for the account holder and partner. A legacy Platinum holder who uses all three insurances is not obviously overpaying at £22, but one who only values the phone element is paying for a bundle that a standalone policy could undercut. The wider standalone market is mapped in the hub guide to the best mobile phone insurance in the UK.

Keeping, changing or leaving the account

TSB allows Added Value Account holders to change to a Spend and Save account at any time, and the switch is straightforward through the app, online or in branch. What the change costs is the insurance: phone, travel and breakdown cover all end with the Added Value Account, and none of them can be bought separately from TSB afterwards. That makes the decision a one way door, because the accounts cannot be reopened once closed to new customers. Account holders who move overseas should also note TSB's warning that eligibility for the insurance benefits may end with UK residency, since the phone, travel and breakdown policies are available only to UK residents including the Channel Islands and Isle of Man. The practical checklist before giving up a legacy account is short: price the three insurances separately at current market rates, check whether family members rather than just account holders need phone cover, and confirm any ongoing claims are settled first. For many long standing holders the £264 annual fee still buys more than the same cover costs piecemeal; for others, particularly single handset households, it no longer does.

Frequently asked questions

Can you still get mobile phone insurance from TSB?

Not as a new customer. Phone insurance is only included in TSB's legacy Added Value Accounts such as Platinum, Premier and Select, all closed to new business. The current Spend and Save and Spend and Save Plus accounts include no insurance benefits.

How much is the TSB Platinum account each month?

The Platinum Added Value Account has a fee of £22 a month. That fee covers the bundle of mobile phone insurance, Aviva worldwide family travel insurance and AA breakdown cover, and the account cannot be held without the benefits.

How many phones does TSB Platinum phone insurance cover?

One phone for sole account holders and two phones for joint account holders, in the UK or abroad. Each handset is covered up to an original retail cost or value of £2,000 including VAT, and replacements may come from reconditioned stock.

What extra fees apply when claiming on TSB phone insurance?

An excess applies to every successful claim. On top of that, the optional collect and repair service adds a £50 fee and the optional same day replacement service adds £30. A free prepaid postage label is available for accidental damage repair claims.

What happens to the phone cover if the account is closed?

All insurance benefits end when an Added Value Account is closed or changed to a Spend and Save account, and the legacy accounts cannot be reopened. Moving overseas can also end eligibility, as the insurances are limited to UK residents.