As part of its Packaged Bank Accounts scheme, Lloyds Bank offers mobile phone insurance and other insurance benefits to new Platinum and Silver customers. Existing Gold and Select customers, and those who opened a Premier account before 2014, can also access this cover.
Is Lloyds Bank phone insurance worth it?
Lloyds Bank have two main Packaged Bank Account options which come with additional cover for various aspects of your lifestyle, in return for a monthly fee:
Silver (£11.50/month)
Platinum (£22.50/month)
Club Lloyds Silver (£11.50/month + £5 monthly fee, refunded if you pay in £2000+)
Club Lloyds Platinum ((£22.50/month + £5 monthly fee, refunded if you pay in £2000+)
Insurance add-ons include phone insurance, different levels of travel insurance and vehicle breakdown cover. Insurances are provided by separate third parties.
The right mobile phone insurance policy depends on your individual needs. You can find a range of plans in the UK, each offering different levels of coverage.
It's important you understand the various levels of protection before comparing the phone insurance included in the Lloyds Bank Silver and Platinum Packaged Bank Accounts with policies from other providers, or you risk selecting the wrong plan.
We're specialists in gadget insurance, and we offer flexible plans that let you choose your preferred level of protection at great prices. You're covered as soon as you sign up, too.
Policy features
Policy features
We'll cover your new or refurbished devices brought in the UK within the last 36 months, as long as they were purchased with a 12-month warranty.
We'll cover your new or refurbished devices brought in the UK within the last 36 months, as long as they were purchased with a 12-month warranty.
We'll cover your new or refurbished devices brought in the UK within the last 36 months, as long as they were purchased with a 12-month warranty.
If your screen gets cracked or the headphone jack breaks, we’ll repair it. If it’s not repairable, we’ll replace it.
If your screen gets cracked or the headphone jack breaks, we’ll repair it. If it’s not repairable, we’ll replace it.
If your screen gets cracked or the headphone jack breaks, we’ll repair it. If it’s not repairable, we’ll replace it.
If your phone has a mechanical breakdown, for example it stops working and it’s out of warranty, send it to us, we'll repair it - if it’s not repairable, we’ll replace it.
If your phone has a mechanical breakdown, for example it stops working and it’s out of warranty, send it to us, we'll repair it - if it’s not repairable, we’ll replace it.
If your phone has a mechanical breakdown, for example it stops working and it’s out of warranty, send it to us, we'll repair it - if it’s not repairable, we’ll replace it.
If someone outside your immediate family damages your phone, we've got you covered. We’ll either repair your phone, or, if that's not possible, replace it.
If someone outside your immediate family damages your phone, we've got you covered. We’ll either repair your phone, or, if that's not possible, replace it.
If someone outside your immediate family damages your phone, we've got you covered. We’ll either repair your phone, or, if that's not possible, replace it.
Your phone is covered if it gets damaged by liquids.
Your phone is covered if it gets damaged by liquids.
Your phone is covered if it gets damaged by liquids.
Wherever you go in the world, provided that this is in line with current government guidance, our worldwide cover goes with you.
Wherever you go in the world, provided that this is in line with current government guidance, our worldwide cover goes with you.
Wherever you go in the world, provided that this is in line with current government guidance, our worldwide cover goes with you.
If you accidentally lose your phone while you're covered with us, we’ll replace it for you.
If you accidentally lose your phone while you're covered with us, we’ll replace it for you.
If you accidentally lose your phone while you're covered with us, we’ll replace it for you.
We’ll replace your phone if it’s stolen.
We’ll replace your phone if it’s stolen.
We’ll replace your phone if it’s stolen.
You're covered for up to £100 if your eWallet is used to make unauthorised contactless payments.
You're covered for up to £100 if your eWallet is used to make unauthorised contactless payments.
You're covered for up to £100 if your eWallet is used to make unauthorised contactless payments.
You’re covered for up to £1,000 worth of unauthorised calls, texts and downloads made in the first 24 hours after the loss or theft of your phone.
You’re covered for up to £1,000 worth of unauthorised calls, texts and downloads made in the first 24 hours after the loss or theft of your phone.
You’re covered for up to £1,000 worth of unauthorised calls, texts and downloads made in the first 24 hours after the loss or theft of your phone.
"We know how important it is to have a working phone, for convenience, connection and safety. That's why we believe in unlimited claims and provide replacements when phones are lost or damaged beyond repair with our Full cover plan. Trust insurance2go so you can worry less, live more."
– James, Customer Service Agent
Why choose insurance2go phone insurance?
Instant protection
You're covered from the moment you buy, whether you opt for a monthly or annual payment plan.
Any phone up to 3 years old
We'll insure any mobile phone, new or refurbished, purchased from a UK-registered company with a warranty, even if you've owned it for up to three years already.
Specialists since 2007
Since we launched in 2007, we've led the way with specialist gadget insurance, backed by decades of experience as part of the SPB Group.
Unlimited claims
We know accidents happen, so we don't limit how many claims you can make.
94% acceptance rate
With us, you don't have to struggle to prove your case. We approve 93% of mobile phone insurance claims.
Seamless service
Benefit from seamless UK-based support provided by our customer service and repair teams.
Get a quote
Decided on the right policy for you? Start a quote and get immediate protection for your phone.
If you're still considering your options, remember you can use our comparison page to compare our policies with other mobile insurance providers, including Lloyds Bank, for help finding the best fit.
Getting a quote takes just a few simple steps, and our team of friendly experts is on hand to answer any questions you may have. You can contact us online or call our customer support team on 0333 999 7905. For answers to general queries, check our help & support section.
The cost of insuring your phone through Lloyds Bank depends on the type of account you have. Silver account holders pay a monthly fee of £11.50 to cover the insurance add-ons. Platinum Lloyds Bank customers will be charged £22.50/month for their phone insurance and other cover, which includes comprehensive AA Breakdown Family Cover and worldwide travel insurance.
No matter which level of Lloyds Packaged Bank Account you have, the mobile phone insurance coverage is the same:
Loss, theft and damage – including liquid/water damage
Unauthorised network charges – for up to 24 hours after phone loss/theft discovery
Accessory cover up to £250
£100 excess per claim
You can only cover one phone per bank account, unless:
You're an existing Premier account holder, opened before 2014
You have a joint account (which covers two phones)
The main difference between our mobile phone insurance and protection through a bank is flexibility. You must have a Lloyds Packaged Bank Account to access its insurance add-ons, whereas we offer standalone plans that you can cancel at any time.
We offer Essential cover from as little as £1.99/month and Full cover for £4.99/month, while Lloyds Packaged Bank Accounts have a minimum £11.50 monthly fee for insurance protection.*
*Last reviewed September 2025
No. With a Lloyds Packaged Bank Account, you pay a monthly fee towards the insurance add-ons.
At insurance2go, we offer the option of monthly or annual plans, so you can choose the flexibility and payment schedule that suits your circumstances. If you buy an annual mobile insurance policy, we'll give you 12 months of cover for the price of 10.
If you wanted to cancel your phone insurance provided by Lloyds, you would have to close your Packaged Bank Account. This would invalidate all associated insurances. To close your account, you'd have to contact the bank directly, open a new account and transfer any funds. If you don't use a switching service, you'll have to cancel linked direct debits and standing orders too.
You can cancel or update an insurance2go policy at any time. Annual policies will automatically renew for convenience, and we give you four weeks' warning in case you wish to opt out.
We can insure most phones, as long as they meet a few requirements:
Less than 3 years old: Whether you bought it refurbished or new, your mobile phone must be less than 3 years old when you first arrange cover with insurance2go.
Authorised purchase: We can only insure phones bought from authorised UK dealers with a warranty supplied upon purchase.
Good condition: Your phone must be in good working order when you begin your cover.
In addition to these guidelines, you must be 18 years old or over to take out an insurance2go policy.
