Phone Insurance: What's Covered And What's Not?

Phone insurance is a protection plan for your device that covers situations where it's lost, stolen, or damaged. It can help cover the cost of repairing or replacing your phone, saving you from paying hundreds of dollars for a new one. Phone insurance covers a range of accidental damage, including liquid damage, cracked screens, and mechanical and electrical breakdowns. It's a monthly payment that you can usually cancel at any time, and some credit cards even offer phone insurance as a complimentary perk.

Phone insurance covers loss, theft and damage

Phone insurance is a protection plan that covers situations where your phone is lost, stolen, or damaged. It is a supplement to, but not a replacement for, renters or homeowners insurance. Most insurance programs are paid for on a month-to-month basis and can be cancelled at any time.

Phone insurance covers a range of damage types, including liquid damage, cracked screens, and spills. It also covers mechanical and electrical failures beyond the manufacturer's warranty period. Some insurance plans may also cover other devices, such as laptops, tablets, and gaming consoles.

Theft is also covered by phone insurance, although it is important to note that not all plans include this. For example, retailers like AppleCare+ do not typically include theft protection in their base plan. In contrast, renters or homeowners insurance policies often include "personal property coverage," which would protect your phone if it were stolen.

When it comes to loss, phone insurance can provide coverage for lost devices. However, it is important to carefully review the terms of your specific policy, as some plans may have different conditions or exclusions for loss coverage.

In addition to the coverage types mentioned above, phone insurance can also offer tech support and fast repairs or replacements. Some plans even provide next-day device replacement and unlimited cracked glass repairs for select smartphones. Overall, phone insurance provides peace of mind and protects you from the financial burden of repairing or replacing your device in the event of loss, theft, or damage.

It's a monthly cost that can be cancelled at any time

Phone insurance is a monthly cost that can protect you from the high costs of repairing or replacing your phone if it is damaged, lost, or stolen. It is a protection plan that covers situations where your phone is lost, stolen, or damaged, including liquid damage. Most insurance programs are paid for on a month-to-month basis and can be cancelled at any time, so you are not tied into a long-term contract.

The monthly cost of phone insurance is often far less than the cost of a new phone, and it can save you a lot of money in the long run. For example, a two-year iPhone insurance plan through Progressive costs as little as $8 per month, compared to paying $1,000 for a new iPhone. With phone insurance, you can also get your phone repaired quickly, with some providers offering same-day repairs in most areas.

Phone insurance covers accidental damage, such as drops and spills, as well as cracked screens. It also covers mechanical and electrical breakdowns beyond the manufacturer's warranty period. If your phone is damaged beyond repair, your insurance may provide you with a new or refurbished replacement phone. If a replacement isn't available, they may reimburse you for the cost of the phone, up to its original purchase price.

It's important to note that phone insurance doesn't cover everything. Common exclusions include normal wear and tear, cosmetic damage (such as scratches or dents that don't impact the phone's functionality), and theft or loss of phone accessories (such as cases or headphones). Additionally, there may be limits on the number of claims you can make or the total amount of coverage provided.

It covers electrical and mechanical failures

Phone insurance is a protection plan for your device that covers situations where it is lost, stolen, or damaged. It is a monthly payment plan that can be cancelled at any time, and you can receive a prorated refund of your monthly charge.

Phone insurance covers electrical and mechanical failures. This includes any malfunctions caused by manufacturer hardware or software defects, such as manufacturing defects that cause electrical or mechanical failures. This is similar to a warranty, but phone insurance covers more situations.

Electrical and mechanical failures can occur in various ways. For example, you might accidentally use your phone as a hammer, or your toddler might drop your phone in the toilet. In these situations, phone insurance can cover the cost to repair or replace your phone. If the issue can't be repaired, you may be given a new or refurbished phone as a replacement. If a replacement isn't an option, your insurance provider may reimburse you for the cost of the phone, up to its original purchase price.

The specific details of what is covered by cell phone insurance vary by the insurance provider. Some common exclusions from phone insurance plans include cracked screens, spills, and drops. Therefore, it is important to carefully review the terms of your insurance plan to understand what electrical and mechanical failures are covered.

It covers accidental damage, liquid damage and cracked screens

Phone insurance covers accidental damage, liquid damage, and cracked screens, providing peace of mind for phone owners. Accidents happen, and a phone insurance plan can cover the cost of repairing or replacing a device if it is damaged, lost, or stolen. This includes cracked screens, which are one of the most common phone issues and can be costly to repair. Many insurance plans offer unlimited cracked screen repairs for select smartphones, with some providers offering \$0 deductibles.

Accidental damage from handling (ADH) is a specific subcategory of phone insurance that includes drops, spills, and cracked screens. This type of coverage is designed to protect against everyday accidents, such as a phone slipping out of your pocket, tumbling off a counter, or taking a fall while running, which can result in extensive damage beyond just a cracked screen. With ADH coverage, you can rest assured that you won't have to stress about unexpected repair costs when accidents happen.

Liquid damage coverage is another important aspect of phone insurance. Spills, dunks in the pool, or slips into the toilet can cause liquid damage, which is a leading cause of phone failure. Even if your phone is water-resistant, it may not survive every liquid encounter. Phone insurance provides coverage for these unexpected liquid-related accidents, so you don't have to worry about costly repairs or replacements.

In addition to ADH and liquid damage coverage, some phone insurance plans offer comprehensive protection for other types of accidental damage. This includes mechanical and electrical failures, even after the manufacturer's warranty has expired. With comprehensive coverage, you can have peace of mind knowing that your device is protected against a wide range of potential issues.

Overall, phone insurance that covers accidental damage, liquid damage, and cracked screens provides valuable protection for your device. It ensures that you won't have to bear the full financial burden of unexpected accidents and can help keep your phone in good working condition. By choosing a suitable insurance plan, you can enjoy your device with greater confidence and peace of mind.

It can be purchased through wireless carriers or credit card companies

Phone insurance can be purchased through wireless carriers or credit card companies. Many wireless carriers offer phone insurance and warranty options for their customers. For example, Verizon offers Wireless Phone Protection, which helps repair or replace your device if it is lost, stolen or damaged. This includes liquid damage and cracked screens. Wireless Phone Protection costs $4.95 or $7.95 per month depending on the device type.

Some credit card companies also offer cellphone protection as a complimentary cardholder perk. For example, Capital One's Venture X cardholders have cellphone protection among their benefits. If your phone is stolen or damaged, you may be reimbursed. The reimbursement is based on your deductible and the terms of the coverage.

Frequently asked questions