Latest figures released by Assurant Solutions reveals more than 50,000 new mobile phone insurance policy requests for all handsets were made in the first three days of the iPhone 5 UK launch.

Since 21 September, more than 50% of all new iPhone policies were for the iPhone 5 with 60% of these for the 16GB iPhone 5.

The table below gives a percentage breakdown according to each model:

16GB 32GB 64GB
% of new iPhone 5 policies 60% 25% 15%
Current retail value of each handset £529 £599 £699

Andy Morris, Business Development Director at Assurant Solutions, said:  “We have experienced a significant uptake in mobile phone insurance policies since the iPhone 5 launching. Given the monetary value of the smartphone and also the high dependency people place on these handsets, customers can’t afford to be without their phone and are looking for quick replacements. It took less than 24 hours of the iPhone 5 launching for us to receive our first claim – we are seeing more customers recognising the value of this product and the importance of protecting their phone.”

Assurant Solutions currently administers 8.6 million mobile phone insurance policies on behalf of its partners.

With more than 5 million handsets being sold in the first three days worldwide the firm is expecting a significant number of requests over the next few weeks as customers receive their new handsets.