Should You Get Cell Phone Insurance

Dated: July 23 2018

Views: 138

Should You Get Cell Phone Insurance?image: Should You Get Cell Phone Insurance?

By Kimberly Lankford, Kiplinger.com


Question:Now that new cell phones are more expensive, should I consider getting cell phone insurance? What are the best options? –M.S., San Diego.

Answer:Cell phone insurance isn't worth the cost if you rarely lose or break your phone. Plus, the manufacturer's warranty usually covers malfunctions in the first year. Logan Abbott, president ofWirefly.com, a website that analyzes phone plans, says you're better off buying a sturdy case, such as an OtterBox ($18 to $40).

But if you tend to be hard on your phone (or have a teenager who is), you may want some extra coverage. You have several options, with different prices, deductibles and exclusions.

For iPhones, AppleCare+ provides the best coverage. For $149 for most iPhones (or $199 for the iPhone X), it provides two years of tech support and hardware repair. It also covers two incidents of accidental damage, with a $29 "service fee" for a cracked screen and a $99 charge for other damage. If Apple decides to replace rather than repair your phone, you may get a replacement the next day.

AppleCare doesn't cover lost or stolen phones, but the insurance sold by most wireless providers does. Sprint charges $13 per month for Total Equipment Protection Plus, which now includes tech support from AppleCare. Sprint's plan charges a $29 fee for cracked screens and a $99 replacement fee for most broken iPhones. Sprint-authorized technicians repair non-iPhones, though with higher repair and replacement fees. The plan also covers lost or stolen phones (after a deductible). Verizon charges $13 a month for similar coverage, with an $89 fee to replace most broken phones.

Best Buy's Geek Squad covers non-iPhones for $7.99 per month for repairs or $10.99 to add theft and loss coverage. You'd pay about $60 to fix a cracked screen at a repair facility (available for Samsung phones in 11 states). Otherwise, you ship your phone to be repaired or replaced, and the replacement fee runs $149 to $199.

Reprinted with permission. All Contents ©2018 The Kiplinger Washington Editors.Kiplinger.com.

Blog author image

Bevia Patrick

Since its inception in 1995, Patrick Team Properties has exemplified a profound commitment to its clients by providing the highest standard of service, integrity and work ethic in the field. Patri....

Latest Blog Posts

Homeownership Myths Busted

Homeownership Myths BustedEven in today’s modern world, it can be tough to sort out the homebuying facts from the fiction. We’re setting the record straight for some of the most common

Read More

Reasons You Should Consider Selling This Fall

Reasons You Should Consider Selling This FallIf you’re trying to decide when to sell your house, there may not be a better time to list than right now. The ultimate sellers’ market ’

Read More

5 Reasons Todays Housing Market Is Anything But Normal

5 Reasons Today’s Housing Market Is Anything but NormalThere are many headlines out there that claim we’re reverting to a more normal real estate market. That would indicate the housing market

Read More

What Is The Strongest Tailwind To Todays Recovering Economy

What Is the Strongest Tailwind to Today’s Recovering Economy?Last year started off with a bang. Unemployment was under 4%, forecasters were giddy with their projections for the economy, and

Read More