Mobile insurance: Do you need it?
Have you ever gotten a cell phone bill and noticed that you were being charged for cell phone insurance? You may be asking yourself, “What exactly is cell phone insurance and what does it cover?” If you are like most of us then you probably don’t really know what you’re paying for when it comes to your cell phone insurance. Cell phones today can cost anywhere from one hundred dollars all the way up to twelve hundred dollars and it’s common for consumers to want to protect their investment with insurance when they have a more expensive phone but is cell phone insurance worth the money you pay?
Cell Phone Insurance Cost
Most major carriers will offer you cell phone insurance for a monthly price that is added to your bill every month. This charge can be anywhere from eight to fifteen dollars depending on which carrier you use. If you damage your phone and it needs repairs you can file a claim with the insurance company and they will either fix the phone or replace it if it’s unrepairable. However, there are deductibles involved when it comes to filing a cell phone insurance claim. Depending on the brand and model of your phone and your carrier deductibles are $50, $100, $150 & $200. The deductible must be paid before any repairs are completed or the phone is replaced. You can also file an insurance claim if you happen to lose your phone or it gets stolen but the same deductible will apply. Also, keep in mind that cell phone insurance plans have a cap on how many claims you will be able to make. Most insurance plans only allow you two claims total.
Insurance vs. Cell Phone Case
There are some great cost-effective alternatives to protect your cell phone. You can always purchase a cell phone case from SarahaCase and it will protect your phone. A good phone protection kit will cost about seventy-five dollars and it will protect it from scratches, cracks and water damage. When you compare the cost of a cell phone case to the cost of cell phone insurance it may be more cost-efficient for you to choose to buy a cell phone case instead of the insurance. It may not sound like a lot of money but ten dollars a month for cell phone insurance comes out to one hundred and twenty dollars a year.