Yesterday, actually two days ago (you know every past day is yesterday when you’re taciturn) I asked a friend who purchased an iPhone if she got phone insurance as well.
Trust me, you wouldn’t want to miss that expression of ‘what the heck is that’ that i got.
Indeed most of us are like that. We see cell phone insurance options as a waste of scarce resources. I concur that in some sense this may be true, other times it is false.
Personally, I’ve lost my cell phone a couple of times and I just had to replace it. Where in the streets of Baltimore could I have gone looking?
Now imagine how easy it would have been to recover that lost phone if I had cell phone insurance.
They’ll gladly get me a new phone with no extra charge coming from my pocket.
My fellow optimists will be hopeful this ugly incident never happens. See a shocking stat.
According to Channelpronetwork, 70 million smartphones are lost each year, with only 7% recovered. CBN gave a clearer perspective that 113 smartphones are lost every minute.
If you don’t want to be included in this stat, you need a cell phone insurance cover from the best minds out there. We’ve got you covered.
In the meanwhile, catch a glimpse of what you’ll learn.
Why Do i need a cell phone insurance?
So, a new cell phone cost an average of $400 and the expensive ones is up to $2000.
Isn’t it ironic how one can buy a used car below $2000 and insure it while a cellphone with an equivalent value is left to the dogs?
That’s a sheer state of neglect and the cell phone association will soon revolt.
Meanwhile, you need cell phone insurance when your phone is new and expensive.
Secondly, you’ll find cell phone insurance worthwhile if you have a tendency to lose or break your phone. Let’s face the reality, some people are more prone to losing or breaking their phones than others and insurance is needful.
Lastly, when you’re on a budget. If there is no room for a surprise in your finances, and you’re dependent on your phone, consider getting cell phone insurance.
Can Cell Phone Insurance Not be Worth the Effort?
Obviously, nothing under the sun has all positives and no negatives. Likewise getting cell phone insurance.
There are times when cell phone insurance ends up being a waste of resources. And that is if you expect the value of your phone to depreciate rapidly. I mean, there is no need to waste resources on a gadget that will depreciate in the nearest future. If any mishap occurs, the insurance claim will be lower than the premium paid.
Next up is when your phone wasn’t an expensive one. It will make no sense to insure a phone that costs less than $200 for a $100 premium per year.
In case I am convinced to give this a shot, how do I identify the best cell phone insurance companies? Just read below.
Features of the Best Cell Phone Insurance Policies
When you see these features in a cell phone insurance plan, be assured that they are among the best in business.
Affordable Premium: Affordability is key when insuring a gadget that is depreciable. Take out time to calculate the cost over a two-year contract before starting out. In addition, go for a policy that is affordable.
Risks Covered: What differentiates insurance companies and their policies is the risks they cover. Pick plans that have broad coverage.
Deductibles: Consider the deductible costs and cost of insurance while comparing plans.
Claim: Conduct research on how the claims are made. Choose a plan that exudes convenience and simplicity.
How Much is a Cell Phone Insurance?
Cell phone insurance plans even from the best have a deductible and it is part of the claim you pay. Therefore, read the T&Cs properly.
The payment is up to a $100 per year for the cheapest coverages and more for the expensive ones.
What Exactly Does a Cell Phone Insurance Cover?
Cell phone insurance typically covers accidental damages like drops, spills, or water damage; loss, and theft. This is similar to car insurance.
Don’t mistake this for warranty as warranty covers defects which is time-bound.
If any of the afrorementioned happens, your insurer will provide a replacement. This may or may not be a new phone and the models may be different but it will comparable.
If the phone got damaged, you’ll send the damaged phone back to the insurer.
10 Best Cell Phone Insurance Plans in 2022
These are the best mobile phone insurance plans you can use in 2022. Check them out below.
1. Verizon Total Mobile Protection
Verizon allows you to insure multiple devices up to 10 at a time.
The premium is $12 per month to cover a smartphone or wristwatch and it requires a deductible.
You’ll be covered for lost or stolen phones, water damage, and even defects that are found past your warranty, and cracked-screen repair when parts are available.
Verizon offers next-day delivery when possible so you will not be without a phone for long.
2. SquareTrend
The premium for this cell phone insurance plan is $8.99 per month. A deductible applies only to coverages between $25 and $149.
Note squareTrend doesn’t cover loss or theft. It is limited to accidental and water damages.
It is the best option for cheap cellphone insurance, your phone can be repaired wherever you are. They have been offering protection for over 85 years with excellent customer service and easy claims.
3. StayMobile Protect Plan
Staymobile is the best insurance plan for coverage. Perhaps there are issues, they are addressed quickly, and the site has 247 claim support.
Even a defective pixel, overheat, broken headphone jacks is covered by this plan.
4. AppleCare+
This is the best insurance plug for iphone and Apple product users.
New iPhones come with one year warranty and 3 months of tech support, but you can extend this warranty to two years when you purchase Apple Care. Although the cost is more than $100 plus deductible, it’s really worth it if you’re accident-prone.
5. AT&T
Best package for families. Offers great protection at an affordable price.
The basic plan is offered at $9 per month and it covers theft, loss damage, and other malfunctions. There are extra benefits like tech help, cloud storage, and ID protection.
Again, AT&T reduces deductibles by up to 50% of your claims-free for six consecutive months or longer.
6. Samsung Premium care
Samsung users shouldn’t miss out on this. It is the best plan. All the phone parts are serviced with original Samsung parts by a licensed technician.
Asurion is the mobile phone insurance service Samsung provides. They have basic coverage that emphasizes phone support and damage. It covers for accidental damage, drops, spills, and cracks.
It functions as an extended warranty that lasts as long as you keep the plan active, up to three years from purchase. Accidental damage claims are capped at three per year while Mechanical breakdown coverage is unlimited.
Price ranges from $11.99 to $19.99 per device per month.
7. Sprint
Sprint is the best in repairs. Their service is quick.
Sprint has heavy discounts for repairs. For example, you can get your cracked screen replaced for as low as $30. this can be done on the same day.
If you have a case of a stolen or lost item, you can get a replacement the next day. A replaced phone will be covered for 12 months under a limited warranty.
A con of Sprint is that deductibles can be pretty high asides for minor damages. It can range from $50 to $300.
8. Geek Squad
If you want long-term coverage from a mobile phone insurance plan, Geek Squad is a plug that can protect your phone for up to 5 years.
Geek Squad is offered through Best Buy and other stores provided they’ve been purchased within the past 30 days.
This service is known for its convenient in-home service and its lack of deductible and cancellation fees. However, loss and theft are not covered.
The price is $7.99 per month and a phone can be serviced 3 times in 24 hours or replaced twice in a 12 month or thrice in 24 months.
9. T-Mobile Protection
T-Mobile has 2 mobile phone insurance plans.
The basic Device Protection plan costs between $6 and $14 a month. For a mechanical fault, T-Mobile covers all of the costs, with no deductible. Accidental damage, or the loss or theft of the phone, does have a deductible fee with a maximum device replacement value is $1,200.
Second is the Protection 360 that costs between $7 and $15 a month. It has the McAfee Security app and service that includes theft protection. Finally, it offers unlimited screen protector installations for your phone.
10. Protect your bubble.com
Pricing starts at $5.99 per month and a coverage can last for up to 2 years.
Apply caution when using this company because they claim a $50 deductible for iPhones but $150 for Samsung smartphones.
Losses and theft are not covered in this mobile phone insurance plan.
Conclusion
Mobile phone insurance plans are a must-have if you reside and interact in a damage/theft-prone environment. If you are not ready for some impulse spendings on replacement, get an insurance cover from the best cell phone insurance companies.
The Wealth Circle cares!
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