What’s your phone worth? $100, $200 or more… Find the value w/ Flipsy › $249 (though AppleCare+ pricing applies to iPhones) PREMIUM (over 24 months, also no-claim price)
Phone insurance cost How much does phone insurance really cost? Let’s look at how much you’d pay on popular plans for an iPhone XS if you don’t file a claim, if you have one claim and if you have two claims over a 24-month period. Some plans that cover water damage do not cover other liquid damage – so you might not be covered if your phone takes a dip in your cereal bowl.īe sure to check for any stipulations: AppleCare+ with Loss and Theft coverage only applies if you have Find My iPhone enabled at the time your phone is lost or stolen, for example. Some plans revoke coverage if you attempt to repair your own phone. The fine print Ready the policy’s terms and conditions. Is Sprint Phone Insurance a Good Deal? Find out here Damages are covered by Apple, and T-Mobile adds benefits like unlimited screen protector replacement and McAfee Security – two things you might not want or need, especially since AppleCare would be cheaper to purchase alone (provided you pay upfront). For an iPhone XS, the only difference between Verizon’s Total Mobile Protection ($13/month) and Total Equipment Coverage ($9/month) is access to a Verizon Tech Coach – a $96 expense over 2 years that many people do not need.Īnother example: T-Mobile’s Protection 360 includes AppleCare benefits for iPhones. Unneeded “perks” Don’t assume the most expensive plan has the best coverage. Make sure you know how long your phone is covered. Time period Some insurance plans are in effect for as long as you continue to pay the premium others are only in effect for a given time. Limits Plans limit the number of claims that can be filed per year and the total value of claims. The deductible drops to $224 after 6 months and to $149 after 12 months without a claim.ĭid you know? Many phones are worth $100+. For example, AT&T Mobile Insurance has a standard deductible of $299 for “Tier E” phones, which includes the iPhone XS. Other repairs cost $99, while the theft or loss deductible is $269. For example, AppleCare+ with Loss and Theft charges $29 to repair a damaged iPhone XS screen. T-Mobile Insurance: What it covers, what it doesn’tĭeductible This is the out-of-pocket price you’ll pay if you file a claim. If you take your phone boating, you probably want to be covered for water damage, for example. Make sure any plan you’re considering offers coverage for your risk factors. More comprehensive plans cover defects, damages, loss and theft. Some cover damages but not loss or theft. Some plans only cover manufacturer’s defects. Compare that to the $14.99 monthly fee, which comes to $359.75 over two years – about $60 more.Ĭoverage Understand exactly what is covered and what isn’t. For example, AppleCare+ with Loss and Theft costs $299 if you pay upfront. Some plans offer discounts for upfront payment. Premium The premium is how much you’ll pay for your policy, either upfront or per month. Phone insurance coverage Here’s what you need to know before you buy phone insurance. No matter which you’re considering, it’s best to compare coverages and costs before you decide.
Compare phone insurance coverage & cost There three primary sources for phone insurance: manufacturer insurance like AppleCare+ and Samsung Premium Care, carrier insurance offered by Verizon, AT&T, T-Mobile and Sprint, and independent insurance offered by companies like SquareTrade, Best Buy/Geek Squad and Worth Ave. Though you can’t predict the future, you can evaluate your risk level based on your lifestyle, career and other factors to help decide whether phone insurance is worth the cost.
For perspective, the iPhone X reportedly had a 3% failure rate. What about manufacturing defects? Warranties typically last a year, but after that you’re on your own unless you have insurance. Verizon Phone Insurance: What it covers, what it doesn’t Do your kids have phones? How careful are they with their devices? If you work in a high crime area, there’s an elevated chance your phone could be stolen. If you use a heavy-duty case and only transport your phone between your home and an office job, you’re less likely to break or lose your phone than if you routinely snap selfies while water skiing. No matter which source you believe, only you can judge how likely it is you’ll need to file a phone insurance claim.
A Batteries Bulbs Plus survey found that 33% of people had broken their phones over the previous year, a SquareTrade survey put the number at 66% per year and a Consumer Reports survey arrived at 50% over two years. What’s your phone worth? $100, $200 or more… Find the value w/ Flipsy › Evaluate your risk How likely are you to break your phone? It depends on who you ask.