I’ve been wanting to switch to Monzo full for some time now and only one thing was stopping me. With my traditional bank account, I had an iPhone insurance add-on for roughly £15 per month.
Technically in the eyes of insurance providers, my iPhone X is classed as a second-hand device since it was bought new by a friend and I purchased from him. Bank mobile insurance usually covers second-hand devices.
Recently I found an awesome provider called So-Sure who will insure without any proof as the purchase as long as you validate your phone using there pic-sure technology which is basically as phone selfie. For a cheaper price of £11.
Just like Monzo the UX/UI is superb so I’m would recommend them. Would be an excellent partnership for both companies if Monzo offered mobile insurance in this way and I’m sure this could be stopping a small number of people making the switch.
There is also a feature called reward pot whereby you can link with friends and receive a discount if no one claims. Take a look: