Is Phone Insurance Worth It ? What To Know

Smartphones stand out as the electronic device most susceptible to damage, with an average repair claim payout hitting $348.70.

Cell phone insurance covers repairs beyond the manufacturer’s warranty and theft incidents.

It operates akin to standard insurance plans—pay a premium for coverage, and in the event of a covered loss, the insurer handles repairs or replacement payouts.

is phone insurance worth it

 

What does cell phone insurance cover?

Depending on the selected plan, cell phone insurance typically includes coverage for damages resulting from accidents or theft, up to a specified limit or the phone’s replacement cost.

While coverage specifics may differ among carriers, let’s explore the Worth Ave.

Group’s Progressive Phone and Electronic Device Insurance cover, irrespective of your phone’s age, make, model, or condition (new, used, or refurbished):

– Liquid damage
– Theft and vandalism
– Accidental drops
– Cracked screens and breakage
– Incidents involving fire, flood, or natural disasters
– Power surges caused by lightning

Worth Ave. The group allows for unlimited claims during the policy term, with a deductible requirement.

To better understand how Progressive Phone and Electronic Device Insurance by Worth Ave.

Compared to other cell phone insurance plans, reviewing its specific features and benefits is essential.

What isn’t covered by cell phone insurance?

Here’s a breakdown of what a typical cell phone insurance plan excludes from coverage:

– Tampering or modifications
– Natural wear and tear
– Cosmetic imperfections
– Unauthorized repairs
– Loss of your phone

Cell phone insurance steps in to address accidents not covered by the manufacturer’s warranty.

Manufacturer warranties often cover defects and malfunctions for a limited time post-purchase, addressing issues like faulty charging ports, camera malfunctions, or software errors caused by manufacturing faults.

However, cell phone insurance specifically targets accidents and damages beyond what the manufacturer’s warranty protects.

How much is a cell phone insurance plan?

The expense of your cell phone insurance plan hinges on your insurer, device, and deductible.

For instance, Progressive Phone and Electronic Device Insurance by Worth Ave., covering a two-year insurance plan for an $850 iPhone could start as low as $8 per month*. (*Refer to the associated disclosure for this claim.)

This plan offers unlimited claims and an additional 5% discount if purchased through Progressive.

Typically, deductibles for cell phone insurance fall within the $50 to $200 range, although they may differ depending on factors like your phone’s brand, model, age, coverage amount, and plan terms.

Why should I get insurance on my phone?

Smartphone repairs or replacements can be quite expensive, making insurance almost a necessity.

Considering how integral your phone is to your daily life, whether for work or personal use, damaging it could instantly disrupt communication with friends, family, and colleagues.

However, having smartphone insurance transforms a potentially costly and inconvenient problem into an easily manageable one.

How often do people break their phones?

Damaging a phone isn’t uncommon, as evidenced by Worth Ave. Group’s findings: a staggering 18% of smartphone users experience damage within their first year of ownership.

Accidents can occur anytime, anywhere. Among Worth Ave.

Group’s electronic device repair claims, drops constitute 41.6%, while 35.7% result from cracked screens.

Theft and liquid damage rank as the subsequent most common types of damage, at 8.12% and 6.75%, respectively.

How much does a smartphone cost to repair?

Worth Ave. The group typically pays out an average of $348.70 per claim through cell phone insurance.

Considering the cost of a single cracked screen repair, having this insurance could easily justify the premium.

If you’re unsure about the need for mobile phone protection, consider these questions when weighing whether to invest in cell phone insurance:

– Have you previously had your phone stolen or experienced frequent drops?
– Is your phone frequently used during workouts or active moments?
– Do children often handle your phone?
– Do you own a high-value smartphone or iPhone that would be costly to replace without insurance?
– Is your phone crucial for business, requiring immediate repair or replacement if damaged or stolen?
– Do you work in extreme conditions or near water or heavy machinery, posing a risk to your phone?

If any of these scenarios resonate with you, cell phone insurance could be a wise choice.

If the prospect of spending hundreds of dollars on a repair or replacement at any given time doesn’t sit well, opting for cell phone insurance can save you both money and the hassle of dealing with a broken phone.

How to get cell phone insurance

Online

Get a cell phone insurance quote from Progressive Phone and Electronic Device Insurance by Worth Ave. Group.

Call a rep

Call 1-844-571-6742 and speak with a representative today.

Expensive Repairs And Replacements

From cracked screens to water damage, phone repairs often come with hefty costs and time investments.

Repairing a cracked screen could set you back anywhere from $100 to $300 or even more, depending on the phone model and the extent of the damage.

Water damage poses another prevalent issue, causing corrosion and requiring potentially expensive repairs.

On top of the repair fees, additional expenses like shipping or the need for a temporary rental phone during the repair period can significantly increase the overall expenditure.

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