• Your make and model

Insuring a new phone is likely to be more expensive, so if you've got an iPhone SE or iPhone 11, you may pay a bit more for a cover than someone with an iPhone 7 or 8.

According to MoneySuperMarket data, the average price of insurance for the iPhone 11 Pro Max was £ 113.11, but the iPhone 7 averaged just £ 68.11.

• Your cover

The level of cover you take out could also affect the price of your iPhone insurance policy. For example, adding theft and loss cover will likely increase the premium price.

• How often you pay

With some but not all insurers, paying monthly could end up costing more than one annual payment. But strangely the reverse could be true for other providers – you should check beforehand to be sure you’re getting the better deal.

• Excess

As with most types of insurance, if you want to make a claim it’s likely you’ll have to make an excess payment before your insurer will cover the rest of the cost. Some insurers offer a compulsory excess fee and a voluntary excess fee. The more you opt to pay, the cheaper your premiums are likely to be.

It may also be worth considering whether your claim is worth the excess payment. In some cases you might be better off paying for the damage yourself and preserving your no claims bonus – which could lead to savings on premiums in the future.