Paul Sanchez
Verizon offers phone insurance and device protection services to its customers. The insurance covers loss, theft, damage, and post-warranty malfunction. However, there are mixed reviews about the insurance, with some customers recommending it for peace of mind, while others suggest the cost is not worth the benefits. The insurance is provided by Asurion, which has received many complaints about its services.
| Characteristics | Values |
|---|---|
| Name of Insurance | Verizon Mobile Protect, Verizon Wireless Phone Protection |
| Devices Covered | Phone, tablet, smartwatch |
| Cost | $7.25 per month within Apple warranty, $11.40 after warranty, $17 per month for the $1,000 plan, $60 per month for multi-device |
| Coverage | Loss, theft, damage, software and hardware issues, post-warranty malfunction |
| Claims | Limited to three per year |
| Deductible | Up to $249 |
| Reviews | Bad rating on Trustpilot based on over 2,100 reviews, 2,000+ complaints on Better Business Bureau |
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What You'll Learn
Verizon's phone insurance cost
Verizon offers several insurance and device protection options for customers. The cost of these options varies depending on the specific plan and device type. Here is an overview of Verizon's phone insurance and protection plans:
Verizon Mobile Protect
Verizon Mobile Protect is a comprehensive insurance plan that includes Wireless Phone Protection, Verizon Extended Warranty, and Mobile Secure. This plan covers loss, theft, and damage, including liquid damage and screen damage. It offers unlimited cracked glass repairs for select smartphones with a $0 deductible. The cost of Verizon Mobile Protect is $60 per month for multi-device coverage, according to a user comment on Reddit.
Wireless Phone Protection
Wireless Phone Protection is available separately and can be added to eligible devices within 30 days of activation or during specific events, such as purchasing a new device or upgrading an existing one. It helps repair or replace devices that are lost, stolen, or damaged. The cost of this protection varies depending on the device type and location. For Nationwide customers, it is $4.95 or $7.95 per month, while for New York customers, it is $4.25, $5.25, or $8.25 per month.
Verizon Extended Warranty
The Verizon Extended Warranty provides unlimited out-of-warranty device repairs for select smartphones at a Verizon-authorized repair facility. This option is not available in Florida. The cost of this warranty may be included in the Verizon Mobile Protect plan but is not specified separately.
Mobile Secure
Mobile Secure provides 24/7 premium tech support for select smartphones, offering digital security, privacy tools, and device optimization checks. It is included in the Verizon Mobile Protect plan but can also be purchased separately; however, the cost is not explicitly mentioned.
Total Equipment Coverage (TEC)
Total Equipment Coverage includes Wireless Phone Protection and Verizon Extended Warranty. It is not available in Florida or for Florida customers. The cost of TEC is not explicitly mentioned but may be included in the Verizon Mobile Protect plan.
It is important to note that the costs and availability of these plans may change over time, and users should refer to the official Verizon website or their local Verizon store for the most up-to-date information. Additionally, some users have mentioned that their credit cards offer built-in phone insurance, which could be a more cost-effective alternative to Verizon's insurance plans.
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Verizon's phone insurance alternatives
Verizon offers its customers several options for phone insurance and device protection. However, if you are looking for alternatives to Verizon's phone insurance, there are a few options to consider.
Asurion
Asurion provides extended phone insurance for Verizon customers, covering loss, theft, and damage. It offers next-day replacement for lost, stolen, or damaged phones and includes 24/7 tech support and same-day delivery for approved insurance claims. Asurion's insurance also covers devices beyond phones, including tablets and smartwatches.
AppleCare+
If you have an iPhone, AppleCare+ is an alternative to Verizon's insurance. It covers loss and theft and has a lower deductible than some other options. However, it may be more expensive for individuals compared to other plans.
Self-Insurance
Instead of purchasing phone insurance, some people choose to self-insure by putting money into a high-yield savings account. This can be a good option if you don't frequently lose or damage your phone, as you can come out ahead financially in the long run. However, it's important to consider that self-insurance doesn't provide the same immediate benefits as traditional insurance, and you would need to cover the full cost of any repairs or replacements out of pocket.
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Verizon's phone insurance coverage
Verizon offers phone insurance and device protection services to its customers. These services are underwritten by Asurion, which also provides insurance packages for T-Mobile customers and shoppers at big-box retail stores such as Walmart, Staples, and Home Depot.
Verizon's phone insurance plans include Mobile Protect, Wireless Phone Protection, and Home Device Protect. Mobile Protect covers devices against breakdowns and offers access to Tech Coach experts for device setup, digital security, and more. Wireless Phone Protection helps repair or replace devices that are lost, stolen, or damaged. Home Device Protect provides coverage for eligible home tech and premium tech support, including coverage for loss, theft, damage, or post-warranty malfunction.
The cost of Verizon's phone insurance varies depending on the device and location. For example, some sources mention a monthly fee of $7.25 within the Apple warranty or $11.40 after the warranty, while others state a monthly fee of up to $17. There is also a mention of a $60 monthly fee for multi-device coverage. It is important to note that, in addition to the monthly fees, there is also a deductible of up to $249 when making a claim, and Verizon limits claims to three per year.
While some customers find Verizon's phone insurance plans worth the cost, especially for peace of mind, others suggest that the high prices, limited claims, and negative reviews from ex-employees and consumers make it a less attractive option. Some recommend exploring alternative protection plans, such as AppleCare or Upsie, which may offer more comprehensive coverage at a lower cost. Ultimately, the decision to purchase Verizon's phone insurance depends on individual needs and preferences.
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Verizon's phone insurance claims
Verizon offers phone insurance through its Mobile Protect and Home Device Protect plans. These plans cover devices in the event of loss, theft, damage, or post-warranty malfunction. The insurance also provides access to 24/7 premium tech support, in-person device refresh, and more.
If you have device protection through Verizon, filing a phone insurance claim is a straightforward process. Here's a step-by-step guide to making a Verizon phone insurance claim:
- Review your device protection option: Before initiating a claim, it's essential to understand the type of device protection you have. Log in to your My Verizon account and go to the Services & Perks page. Here, you can check if you are enrolled in a device protection option and identify the specific plan.
- Determine eligibility: Different protection plans have varying coverage. Review the terms of your device protection plan to confirm if the incident is covered. For example, Verizon's Wireless Phone Protection covers lost, stolen, or damaged devices.
- Gather necessary information: When filing a claim, you will need to provide specific details about your device and the incident. This includes information such as the device make and model, the date and circumstances of the loss or damage, and any relevant documentation.
- Initiate the claim process: You can start the claim process by contacting Verizon's support channels. They will guide you through the necessary steps, which may involve answering questions, providing additional information, and selecting repair or replacement options.
- Stay updated on the claim's progress: Throughout the claim process, Verizon will keep you informed about its status. You can also actively track the status of your claim on Asurion's website by entering your Verizon mobile number and account PIN.
- Receive your replacement device: If your claim is approved, you will receive a replacement device. In some cases, you may be eligible for same-day smartphone replacement, depending on factors such as customer location, technician availability, and inventory.
It's important to note that deductibles may apply when filing a claim, and these deductibles can vary based on your device and the nature of the claim. Additionally, colour, feature, and accessory compatibility are not guaranteed for replacement devices.
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Verizon's phone insurance reviews
Verizon's phone insurance, provided by Asurion, has received mixed reviews. Some customers have expressed disappointment with the service, resulting in a "Bad" rating on Trustpilot based on over 2,100 reviews. The high cost of the insurance, which can exceed $200 annually, and limited claims are commonly cited as downsides. Additionally, there are complaints about high deductibles, with some customers reporting that the deductible was more than the value of their phone.
However, others have found Verizon's phone insurance to be valuable, particularly for those who are prone to losing or damaging their devices. The insurance covers loss, theft, damage, and malfunction, offering peace of mind for those who depend heavily on their smartphones. The deductibles for Verizon insurance plans range from $49 to $199, which is slightly lower than what some competitors offer.
One advantage of Verizon's insurance is the option to change your protection plan at any time. This flexibility allows customers to switch between different types of coverage as their needs change. For example, after one year, customers can change their Wireless Phone Protection (WPP) to Total Equipment Coverage, which includes a warranty.
Some customers have shared negative experiences with Verizon's Total Mobile Protection plan, stating that it is not worth the cost. They have encountered issues with high deductibles, long wait times for replacements, and coverage limitations in certain states. In contrast, Akko, a recommended alternative, offers device coverage at a competitive rate of $5 per month, with the first month free.
Overall, the decision to purchase Verizon's phone insurance depends on individual needs and preferences. While it may provide peace of mind for some, others may find the high costs and deductibles unnecessary, especially if they are careful with their devices.
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Frequently asked questions
Verizon offers phone insurance through Asurion, which provides extended insurance for Verizon phones where others don't.
Verizon charges \$17 per month for insurance and device protection on smartphones, which is \$204 annually.
Verizon phone insurance provides coverage for loss, theft, or damage to your device. It also includes 24/7 premium tech support and in-person device refresh.
Some people believe that Verizon phone insurance is not worth the cost due to high prices, limited claims, and negative reviews about the service. However, others find it valuable for peace of mind, especially if they tend to be hard on their devices. Ultimately, the decision depends on individual preferences and how much protection one feels they need for their device.
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