What Smartphone Insurance Should You Buy For An Expensive Device?

best phone insurance

If you spend a lot of money on a smartphone, then you will want to make sure that your investment is well protected, and that often means hiring some smartphone insurance when you buy your phone. Taking a long or maybe enough time to choose your  smartphone insurance could truly save you more cash than it seems. However, before you actually start buying the smartphone insurance, you need to consider some things.

 

  • What do you need from the smartphone insurance?
  • Is your phone covered by another plan you have?
  • Do you need to be insured?

 

Is Your Phone With Standard Protection?

To find out whether or not you should spend money on insurance you have to find out if your phone includes some standard protection. A beautiful place to honestly start would be with the phone’s warranty. You could buy it directly from the manufacturer or a reseller on eBay, whatever the case, find out how long you have a warranty for breakdowns that are not your fault. If your phone breaks within the warranty period, you can fix it for free, so that’s the first thing you have to consider.

 

The second thing you have to keep in mind is how expensive your mobile is and how much is going to cost to replace or perhaps change it. If you can not live without your Samsung Galaxy S8 or a day, maybe you should consider taking out insurance. Then again, if perhaps you have an old cell phone in a drawer that you would not mind using for two months while buying a new one, then insurance may not be that important.

 

Smartphone Insurance is effectively a protection mechanism to repair your main phone or get a replacement as soon as possible. If maybe you are in a situation in which you have several contingency plans (for example, a family member who works in a repair shop), or if you do not have much love for your main mobile, then you can live without insurance.

 

Consider Your Insurance

When you’re choosing insurance, always consider how much it would cost to replace the phone on your own and find out how many months it would take to pay for it. Then, compare the cost of the different types of insurance, not only with the price but also with how long it takes to perform any service. Find out the monthly cost and copayment and consider those factors in your decision.

 

Frankly, you also have to take into account if you are clumsy or clueless. Have you broken or lost many phones in your life? Maybe you should add how much you have spent on repairing your phone or replace it in recent years and then decide if insurance is an efficient solution.

 

According to Consumer Reports, around 15% of us acquired a new phone because the old ones have been broken, and approximately 2% of us bought a new one because we lost ours or they stole it. Again, you’re playing with the odds, but it gives you an idea of how likely it is that the normal user has a problem.

 

The Great Insurances

Most manufacturers, such as Apple or Samsung, offer their own insurance, as well as the four large companies and electronic device stores. You have many options to choose from. To make the best decision, analyze the plans in advance to find out which plan is best for you.

In addition to the monthly payment for insurance, be sure to check if there are management fees and possible savings to decide which is best for you. Also, consider these factors:

 

  1. If the payment has an additional expense of management or administration to process an order
  2. If there are extra costs for a faster or exhaustive service
  3. Discounts that could correspond with you (for your years with the same company, for example)

 

Not all insurances are the same. Check what each one includes when you are comparing prices. Does it include accessories, international travel, the price of unauthorized calls, water damage, etc.? Are the replacement phones they give you new or second-hand? And as with all insurance, the value is not only limited to the monthly rate, since what the plan includes can vary significantly.

 

There are also other ways to secure your mobile without a monthly plan from your service provider, the manufacturer or the store where you purchased it. It is possible that your mobile is covered by the insurance provided by your work or included in your home insurance. In these cases, you could add your mobile to your insurance for less money than what a new policy would cost you.

 

You can also consider putting the money you would spend on insurance in a bank account to be able to pay the repair costs yourself. If nothing happens, the money is yours. However, if you have an incidence, it may cost more than you have saved.

 

Unfortunately, there is no quick way to know what is best without looking at the details of these policies, but it is worth doing if you want the best coverage at the lowest price.

 

However, We Will Talk About Some Of The Main Insurances To Help You Get Started.

 

Manzana Smartphone Insurance

We start with the plan they ask us for more often. Instead of a monthly fee, Apple insurance requires a fixed payment. AppleCare + costs $ 199 for an iPhone X, $ 149 for the iPhone Plus and $ 129 for the smaller iPhones. Insurance for an iPhone SE costs $ 99. The fixed payment covers you for two years and up to two incidents for accidental damage.

 

However, you will have to pay a service fee in those cases: $ 29 for screen damages and $ 99 for other damages (such as if your phone falls in the water). The plan does not cover theft, loss, fire damage or earthquake damage. Also, Apple may restrict the insurance to the country where you purchased the phone.

 

SquareTrade Smartphone Insurance

Now compare that to the plan of one of the industry’s leading suppliers: SquareTrade. For just $ 129, Square covers any phone for two years, although you’ll have co-payments for repairs. Payment is $ 99 for most damages or $ 25 for screen damages. Just like Apple, SquareTrade does not cover you if your phone is stolen or if you lose it.

 

SquareTrade will let you take your iPhone to an Apple store so they can repair it and reimburse you for the cost if you prefer. There is no incident limit, but your total cost cannot be greater than the cost of the mobile phone. On the other hand, with AppleCare + you can get free technical support for the phone when you need it for two years. It’s one of those extras that makes it difficult for you to compare types of insurance

 

SquareTrade and Apple are not the only providers, of course. Best Buy has the Geek Squad service, which provides coverage from $ 7.99 to $ 10.99 per month (depending on whether you want coverage for theft or loss) and includes accidental damage, mechanical failures and any mobile accessory that came with it, such as the charger.

 

Samsung Smartphone Insurance

Samsung also offers you a plan on your own. The Samsung plan includes technical and insurance service for $ 11.99 per month. It covers up to three incidents of accidental damage per year, with $ 99 copay each time. Again, the theft and losses are not covered. It’s expensive considering what it is, but some of the benefits include that a technician goes to your home in person with a replacement phone.

 

The plans of mobile service providers, in general, cost more per month and have higher co-payments, but do include losses and theft (although it varies by country). Unless you are a fan of your provider, or you can get significant discounts, you can usually find a better insurance offer. An example is Verizon’s total coverage plan, which costs $ 11 per month and a copay between $ 19 and $ 199 per occurrence.

 

Finally, In addition to theft and losses, Verizon’s insurance also includes technical support. You can get up to three replacement phones a year. The maximum limit is $ 1,500. Compared to Apple’s plans, or even SquareTrade, this does not seem to be a great offer.