The modern lifestyle and the accelerated development of information technology lead to the fact that a mobile phone becomes a very important personal item of an individual in the realization of private and professional duties. In this regard, owning a high-quality and expensive mobile phone is a key precondition for a modern lifestyle, but also an indicator of an individual's social status. As according to the requirements of the insured, insurance companies should innovate existing, but also introduce new insurance products, that's why Montenegrin companies came up with the idea of introducing mobile phone insurance, as a type of personal items insurance. In addition to compensation for damage in the event of certain physical damage to the mobile phone, this insurance can also cover the risk of mobile phone theft, misuse, and the like. The aim of this paper is to examine the level of development of mobile phone insurance in Montenegro, what are the main characteristics of this product, as well as to evaluate the perspective of its development. For this purpose, a web survey was conducted among the citizens of Montenegro in the period May - September 2023. By analyzing the collected data, information was obtained about the current level of representation of this type of insurance in Montenegro, the motives of the insured for (not)concluding an insurance contract, as well as the process and dynamics of claims settlement based on this type of insurance. Also, by applying the χ2 test, this paper examines whether there are statistically significant differences in the insured's motives for (not)concluding an insurance contract, and what role the socio-demographic characteristics of the insured play in this regard. As the same or similar researches have not been done on this topic, especially when consider the market of the Western Balkans, it is clear that this paper has a significant scientific and practical contribution.

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