The average total value of our worldwide travel and mobile insurance is £256 a year. Monzo Premium costs £180 a year total (£15 a month). With just your travel and mobile insurance, you'll save £76 a year with Monzo Premium.
Recently, we launched Monzo Premium – our new account with our new metal card. It comes with everything you already love about Monzo, and much more.
You also get extensive phone insurance, worldwide travel insurance for you and your partner or family, and discounted access to airport lounges. As well as 1.50%/1.49% AER/Gross (variable) interest on up to £2,000 in your balance and regular Pots, and much, much more.
We want to make sure we're providing real value for our customers so we asked independent market research group Consumer Intelligence to see what it would cost if you bought comparable insurance policies and lounge access separately. We've included a summary of that data in this blog post, and have attached a report from Consumer Intelligence with a breakdown of the methodology and data if you'd like to see it.
An overview of Consumer Intelligence
Consumer Intelligence have a 16-year track record of developing unique consumer insights, exercising their price benchmarking and consumer research capabilities for investors, businesses, governments and regulators who rely upon their data to help manage the market, the economy, and build products that customers love.
You can read more about them on their website.
🛫 Our travel insurance is worth an average of £159 a year.
Using our travel policy, Consumer Intelligence sought pricing information on comparable travel insurance policies from the following comparison sites:
Compare The Market
GoCompare
Money Super Market
Confused.com
They obtained 33 quotes for comparable travel insurance from the following providers:
Puffin
Big Blue
Post Office
Leisure Guard Travel
Insurefor
Direct Travel
World First
Spectrum
Fit2Travel
Insure & Escape
Debenhams
💰 The average annual cover value across the market was £158.54
📱 Our phone insurance is worth an average of £97 a year.
Using our mobile phone policy, Consumer Intelligence compared the prices across 6 popular mobile devices:
iPhone 11 64GG (RRP £729.00)
Galaxy Note10+ 256GB (RRP £999.00)
P30 Pro 128GB (RRP £599.99)
Pixel 3a XL 64GB (RRP £469.00)
Xperia 1 128GB (RRP £849.00)
9 Pureview (RRP £549.00)
They obtained quotes for each device from the following providers:
Loveitcoverit.com
uk.protectyourbubble.com
swipeinsurance.co.uk
Lycainsure
So-sure
Gadget Cover
CoverCloud
Next Gen
Trusted
Post office
💰 The average annual cover value across devices for all was £97.07