Kakao Pay Insurance announced on February 24 that it has expanded eligibility for its mobile phone insurance to include minors, reflecting demand from parents with underage children.
By overhauling what had previously been an adult-oriented enrollment structure, parents can now easily sign up for insurance on behalf of their children and ease the burden of expensive repair costs.
This change was made in response to persistent requests from parents who want to prepare for potential damage to their children's phones amid rising smartphone prices. Accordingly, any device released within the last two years is eligible, and mobile phones used by minors can also be covered. Eligible devices include Galaxy smartphones (including kids’ phones) and iPhones. Although the actual user of the phone is the child, the insurance enrollment and payment are handled by the parent.
The enrollment process is also simple. On the Kakao Pay Insurance product page, parents can click the "Get coverage for my child's phone too" banner, select the phone brand and model, then take a photo of the child’s phone information with the parent’s phone and register it.
Kakao Pay Insurance’s mobile phone insurance is a DIY product that allows users to design their own coverage conditions. Insurance premiums are calculated based on the selected number of repairs (2 to 5 times) and the coinsurance rate (10% to 40%). For example, if a Galaxy S26 user enrolls with coverage for 3 repairs and a 10% coinsurance rate, the monthly premium is around 4,600 won. If U+ kids’ phone "Mooneo Edition" and KT "Mam-Pyeonhan Phone S" are selected under the same conditions, the monthly premium is set at 3,300 won (with a maximum coverage limit of 1 million won).
If a 10% coinsurance rate (with a minimum of 30,000 won) is selected, up to 90% of the repair cost can be covered. The coverage limit is not reduced each time a repair is made; instead, coverage can be provided repeatedly for each incident within the preset compensation limit.
Until now, minors using mobile virtual network operators (MVNOs) faced restrictions when signing up for mobile phone insurance, but Kakao Pay Insurance’s mobile phone insurance can be purchased regardless of carrier. Users of unlocked devices and MVNO services can also enroll under the same conditions.
The maximum compensation limits by model are as follows: Galaxy S series, 1.3 million won; Galaxy S Ultra, 1.6 million won; Galaxy Z Flip, 1.5 million won; and Galaxy Z Fold, 2.2 million won. For iPhones, the maximum coverage limit is 1.4 million won for iPhone Pro and 1.5 million won for iPhone Pro Max, allowing even refurbished phone users to have their repair costs covered without additional out-of-pocket expenses due to exceeding the limit.
Kakao Pay Insurance stated, "As smartphone prices and repair costs have risen, we have continuously received requests from users who want to insure their children's phones as well," adding, "We expanded eligibility to include minors in response to this user demand." The company went on to say, "We will continue to strengthen practical safety nets that more users can tangibly experience in their daily lives."
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