The purpose of buying insurance is to protect against the things that a manufacturer’s warranty does not. While warranty will cover you for mechanical breakdowns and faults, it’s of no help if, like so many of us, you accidentally damage your device.
Likewise, if you suffer the misfortune of losing your phone or, worse still, have it stolen, you’ll be on your own. Insurance is always an optional additional purchase, but it exists to give you peace of mind against these not necessarily likely, but definitely possible, mishaps.
Additional insurance will usually cover:
- Accidental damage including a cracked screen and water damage
- Mechanical and electronic failures, if your manufacturer’s warranty has expired
- Replacement of your phone (if lost or stolen)
You have two options if you decide cell phone insurance is worth the investment—either taking out a policy through your cell phone carrier when you buy a phone (which usually needs to be done within 30 days of purchase), or through an independent company unrelated to your cell network.
All of the big carriers offer similar insurance policies, though they have different costs and deductibles.
Remember, just because you have insurance, it doesn’t mean your repairs and replacements will be fully covered. You’ll still need to pay to get your phone fixed, just not full price.
The monthly cost of your insurance will depend on the phone you have and which carrier you’re with (if you buy your insurance through the carrier).
We understand that your world is kept on your phone, which is exactly why it’s a great idea to have it properly insured under the king’s portable possessions insurance. Just because you have a cell phone contract, doesn’t mean your phone is automatically insured. This means that it’s super important to cover your cell phone against loss, damage, or theft, by taking out portable possessions cover. Otherwise you might find yourself paying for a contract, even though you have no device to use!
If you, or your family, have a sophisticated (read expensive) cell phone, list it under ‘specified items’ on your portable possessions insurance policy schedule. This means that the name, make and model, and the value of each cell phone you wish to insure, have to be specifically noted. Doing so will help you ensure that you receive an accurate pay-out in the unfortunate event that you have to make a claim.