"Travel Insurance Does Not Cover Lost Mobile Phones"

Precautions for Insurance Disputes During Summer Activities
FSS Advises Travelers to Check Coverage Details

The Financial Supervisory Service (FSS) advised on July 29 that travelers should be aware that insurance companies selling travel insurance do not provide compensation if a mobile phone is simply lost during a trip.

According to the "Consumer Precautions Based on Major Dispute Cases" released by the FSS on the same day, consumer A lost their mobile phone at a store near their accommodation while traveling and filed a claim under the personal belongings loss rider of their travel insurance, but the claim was denied.

The insurance company explained that simple loss is not covered and compensation is only possible if there is objective evidence that the mobile phone was stolen.

The FSS also added that even if a person is covered by both mobile phone insurance and travel insurance, it is difficult to receive duplicate compensation in the event of mobile phone damage. Insurance payouts are provided proportionally, up to the actual repair cost incurred.

It is also difficult to receive compensation under accident insurance if a person is injured while enjoying leisure activities such as scuba diving or water boating with club members, as club activities are not considered valid grounds for insurance payouts.

If rental equipment such as jet skis or surfboards is damaged, it is also difficult for liability insurance policyholders to receive insurance payouts.

Even if a person is injured while exercising at sports facilities such as swimming pools, liability insurance does not provide compensation unless the facility owner is at fault.

Home appliances such as air conditioners that were purchased more than 10 years ago are also excluded from support.

An FSS official stated, "During summer vacations, travel, and outdoor activities, accidental incidents increase and demand for insurance products grows," but also warned, "Disputes often arise between consumers and insurers due to differences in interpretation during the insurance claim process, so caution is needed."