How long do you have to put insurance on your phone?

Taking out a mobile phone insurance policy shouldn’t be a challenging task. There’s a lot of things people want and need to know before committing to a premium, which is why we’ve compiled some of our top frequently asked questions regarding phone insurance.

How much is phone insurance?

Costs are a top FAQ when it comes to mobile phone insurance, but the answer can depend on many factors. A lot of people will take out insurance on their new device, due to it being an expensive handset that would cost a lot of money to repair or replace without insurance. Other people may choose to insure their entire family’s mobile phones under one multi-device policy for ease.

Typically, phone insurance costs can vary between policy providers. Some providers may throw in optional extras, like tech packs that can extend to tablets and laptops. There’s demand for bespoke policies that match what users are looking for, so it’s a case of which device you have and how well you want to protect it.

Should I get mobile phone insurance?

This comes down to personal preference. Unlike with mandatory car insurance, phone insurance is not a legal requirement. However, for most people it will be a case of weighing up the costs of repair and replacement without insurance. The chances are that people with the latest model of iPhone or Samsung, for example, won’t want to tempt fate and will likely insure their device.

What to do if I lose my phone

This can be devastating for some people, especially if they rely heavily on their mobile phone. A lot of people plan their entire week’s schedule by means of their phone – travel apps for the commute, meditation apps for unwinding, online shopping apps for groceries, weather apps to check the forecast, and even payment apps to save them taking out their cash and cards.

Here are some of our top tips for what to do if you lose your phone:

• Give it a call – if you’re lucky, you may have only misplaced your phone, so using another device to call it may locate it nearby. Maybe it fell out of your pocket down the back of the sofa? Did it fall under your car seat? This tip only works if you don’t have the ‘Do Not Disturb’ function switched on! Also, if you lost your phone out and about, somebody may have found it and (hopefully) will be waiting for a call so they can return it to you. Make sure you try and call your lost phone as soon as possible, because this becomes a lot harder once your battery runs flat.
• Lock it up – if you’ve stored sensitive information on your phone, it’s important that you try and lock it. Using Android Device Manager or Find My iPhone, you can log into your account and manually lock your phone from a remote location. Again, the sooner you do this after losing your phone the better, because it gives people less time to hack into your private information.
• Report the incident – sometimes it may be more likely that your phone is stolen, rather than lost. In this instance, report the incident as soon as you can. Police may have leads on other similar activity that could help them find the culprit and return your device to you. Alternatively, alerting them will give them information for any other similar reports that may come in after yours. *Erase your information – when all else fails and you know deep down that your phone is gone for good, you may wish to erase all of your information from your lost device. You can do this in Android Device Manager and Find My iPhone, and it enables you to wipe pretty much all of the data on your phone, including texts, photos and apps. Even if you think your phone battery has died and it’s lost somewhere unknown, it’s best to mitigate the risk of somebody finding it, charging it up and accessing your information.

What does mobile phone insurance cover?

When buying an insurance policy, it’s important to have a clear understanding of everything that’s included in the premium. As an example, Protect Your Bubble’s mobile phone insurance includes:

• An Endsleigh discount to help you on your way (15% off on up to two gadgets!)

• Cover for theft, accidental damage (including liquid damage and cracked screens) and mechanical breakdown.

• Worldwide cover – No matter where your trip takes you or how long you’re going for.

• Unlimited repairs (including genuine parts)

• Two theft/loss* claims per year (per gadget)

• No tie in – With no yearly contract, cover rolls over monthly so you can cancel at any time.

• Manage your policy in an online portal

• Get discount for insuring multiple devices – get an Endsleigh discount of 15% when covering up to two gadgets, or choose to cover any three items for £15.99 per month.

• You can even choose to add cover for loss for just £1.50 extra per month, per device (excluding laptops).

Your mobile phone insurance FAQs answered

Hopefully the above FAQs have helped answer some of your burning mobile phone insurance questions. From the costs involved to what the policies can cover, there are so many things you need to know before taking out a new insurance policy. Make sure you speak to your insurance provider about any other queries you may have. For more information, see our mobile phone insurance page.

Read our disclaimer.

Cell phones play an ever-increasing role in our everyday lives. We rely on our phones not only to stay in touch, but for financial transactions, business deals, and staying informed about everything from world events to local weather. As we depend on cell phones more and more, we need better, more expensive equipment, which increases our financial risk.

The market offers several ways to safeguard your phone, some offering better protection than others. Cell phone insurance plans offer comprehensive protection, typically at an affordable monthly rate. Nonetheless, phone insurance is not for everyone.

• Some phone insurance plans cover damage, lost phones, and theft.
• Both phone manufacturers and service providers offer phone insurance.
• Some credit card companies provide supplemental phone protection.
• Homeowners and renters insurance policies provide limited phone protection.

The cost of cell phone insurance varies by plan. Some plans include a robust set of protections that cover losses such as accidental damages caused by drops or liquid, cracked screens, power surges, and theft. Cell phone insurance typically does not cover cosmetic flaws, modifications, and normal wear and tear.

When it comes to protecting your cell phone, you have several options.

Some cell phone manufacturers offer insurance plans that provide protections that go beyond the warranty. For instance, Apple offers two cell phone insurance plans, AppleCare+ and AppleCare+ with Theft and Loss for its iPhone products.

Oftentimes, you can purchase a manufacturer’s cell phone insurance plan when you buy a phone, or within a specified period after the purchase. These types of plans often limit the number of claims per year and may include service fees or a deductible. For example, the Apple plans include up to two claims per year and service fees or deductibles of $29 for a damaged screen, $99 for other damages, and $149 for loss or theft.

Pricing for manufacturers’ cell phone insurance can depend on your phone’s model. For instance, AppleCare+ with Theft and Loss coverage costs $3.99 per month, or $79 per year, for an iPhone SE, while coverage for an iPhone 13 Pro runs $9.99 per month, or $199 per year.

Major service providers often offer cell phone insurance plans for their customers. For instance, Verizon offers a plan that covers damage, loss, and theft, with a fixed rate of $29 for screen repairs. Monthly rates and deductibles depend on your phone’s manufacturer and model. For example, coverage for a Samsung A610 costs $14 per month with a $19 deductible, while protection for an iPhone 12 runs $17 per month, with a $229 deductible.

AT&T also offers a plan with a rate of $14-$17 per month depending on device model. It will  cover up to three loss, theft, or physical damage claims every 12 months, and features $29 screen repair and unlimited battery replacement.

Some colleges and universities offer cell phone insurance plans for their students, professors, and staff. For example, cell phones purchased through Columbia University’s Information Technology department are eligible for device coverage starting at $11 per month. The Columbia plan requires paying a $99 deductible for each incident.

The University of Nebraska offers a similar program, which offers coverage ranging from $75 to $175 per year, depending on the retail price of your phone.

Most standard homeowners and renters insurance policies offer limited cell phone protections. If your phone is destroyed in a covered loss, such as a fire, the personal property coverage of your policy will cover it. Likewise, personal property coverage also protects your phone from theft or vandalism, which may occur in your home or away from home.

However, most homeowners and renters insurance policies do not cover accidental damage to your phone. So, if you drop your phone and crack its screen, you can’t rely on your home insurance coverage.

Some major insurance companies offer standalone coverage for cell phones. For instance, through a partnership with SquareTrade, Allstate offers a phone protection plan for $12.99 per month. This plan covers accidental losses such as a cracked screen or liquid damage, along with charging port and battery failures.

Deductibles apply to the personal property coverage of your home or renters insurance policy. If your policy has a $1,000 deductible, it will not provide protection for a $500 cell phone, but the cost of repair or replacement as part of a covered claim will count toward your deductible.

Some credit card benefits include cell phone protection. For example, some Wells Fargo credit cards offer up to $600 in cell phone coverage, with a $25 deductible. Wells Fargo’s coverage protects against damaged or stolen cell phones, but does not cover lost phones.

The Visa Signature credit card also covers damaged or stolen cell phones, with a $50 deductible, and American Express provides up to $800 in phone coverage, with a $50 deductible.

Many credit card protections offer supplemental coverage. So, if your phone is covered by your homeowners insurance, you must exhaust that coverage before filing a claim with your credit card company.

Oftentimes, credit card companies only offer cell phone protection if you use your credit card to pay your monthly service provider bill.

When considering buying phone insurance, think about the cost of coverage and the protection it will provide. Can you afford the monthly or yearly insurance rate? Can you afford to buy a new phone if yours is damaged, lost, or stolen?

Phone insurance can save the day when you need it. Having the coverage ensures that you can purchase another phone if a thief makes off with yours or can afford repairs if it sustains damage.

When considering whether to buy phone insurance, think about how important a cell phone is in your daily life. More importantly, consider how not having your phone would impact your life.

Folks who rely heavily on their cell phones likely need phone insurance. Perhaps you depend on your phone to stay connected with your family and friends or rely on it for internet access. People who rely on their phones for work likely need phone protection to ensure quick replacement.

Parents who allow young children to use their expensive phones for calls or games run the risk of serious damages. Commuters who use public transportation face the threat of snatch-and-grab cell phone theft. Active people risk damaging their phones while exercising at the gym or hiking. And some folk simply tend to drop their phones.

The average price of a smartphone is just over $350, with the iPhone 13 Pro selling for as much as $1099, so consider whether you can afford a replacement. Phone insurance is particularly important if you purchase a high-end phone through a monthly installment plan, otherwise you could be on the hook for months or years of payments if your phone is damaged, lost, or stolen.

Phone insurance isn’t for everyone. While some people live with their phones in their hands, others only use them to make calls and occasionally surf the web. Others work from home and still have a landline connection.

If you bought your phone through an installment plan, and have paid it off, you probably don’t need phone insurance. However, before dropping coverage, determine whether you can afford to buy a new phone if yours is damaged, lost, or stolen.

Phone insurance is not for people who buy inexpensive phones. It doesn’t make good financial sense to pay $15 a month or more for a phone that costs $150.

Phone insurance provides valuable protection for people who own expensive phones and those who heavily rely on their phone every day. The market offers several ways to protect your phone, with manufacturers’ and service providers plans. Home and renters insurance policies, as well as some credit card companies, also provide phone protection options.

Determining whether you need phone insurance depends on the importance of having a cell phone and your financial ability to replace it.

If you buy a phone through an installment plan, you should carry phone insurance until you’ve made the last payment. When purchasing an expensive phone, you should consider keeping insurance as long as it has a high resale or trade-in value.

Typically, phone insurance plans protect against damage, loss, and theft, safeguards that alternative protections can’t match. While your renters insurance may pay to replace a damaged or stolen phone, it won’t cover a lost phone. Likewise, credit card phone coverage only offers supplemental protection, which likely won’t provide enough protection for an expensive phone.