Not all mobile phone insurance plans are created equal. Many of them require that you purchase at the time of phone sale or put heavy restrictions on what’s covered. Here’s a few things to consider when making your phone insurance choice.
- What does it cover? – Weigh all the options when it comes to coverage. Does the plan allow you to customize coverages based on your budget? If they are all-inclusive plans, what does that really mean? Be sure to inquire about lost and theft since many plans don’t cover either.
- Do my premiums go up or down in cost? – As your phone ages, it’s value declines. So why are you paying for insurance where your premium is based on a new device? Ask about premium costs and how they change over time.
- Is the deductible reasonable? – If/when you have to use your insurance, is the deductible more costly than the damage itself? Certain fixes are relatively inexpensive and a high deductible doesn’t make sense for those repairs.
- Are lost and theft coverages available? – Many plans will cover damages, but not cover lost or stolen phones. This coverage is crucial since over 19 million phones are lost or stolen each year.
- How much am I really saving when I buy mobile phone insurance? – Take into consideration how much a new device would be vs the cost of the deductible. With insurance, you’ll find that you save quite a bit. You won’t be caught without a device in case you can’t cover the high cost of a replacement considering the average cost is $545.
We offer high-quality, customizable insurance plans for phones of all types and ages. You get to choose what premium and deductible fit your budget.