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(Pocket-lint) - The Financial Conduct Authority has said that claiming for a lost mobile phone is virtually impossible in the UK, citing unfair tactics and too many policy exemptions.

The FCA is to impose a fine on one insurance firm next month and has also explained that a lot of current mobile phone insurance policies designed to cover loss, don't do so in practice.

There are some fairly incredible cases also listed by the FCA, including one where a mobile phone left in a hotel room was not covered after the woman who left it checked out, as it was a public place, not covered by her policy.

The issue lies in the policy terms themselves, which in a lot of cases contain far too many exemptions from claims, making it impossible for them to be used if a phone is lost. Cover descriptions are too broad and ambiguous in a lot of cases, leaving those who buy policies unsure how exactly their mobile phone is covered.

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Those firms involved have already agreed to make changes to policies according to the FCA, as well as promising to boost the speed at which claims are processed and give you more time to claim.

Many question the value of mobile phone insurance altogether. In some cases it can be extremely expensive and often getting a claim processed is very difficult. Other options include things like a Casio smartwatch which vibrates whenever you accidentally leave your phone somewhere. And iOS 7 also plans to implement new security features which make a stolen iPhone almost unusable.

Writing by Hunter Skipworth. Originally published on 27 June 2013.