This is a very common situation: you are finishing happy hour with a friend, and you call an Uber. It arrives much earlier than you thought, so you rush out and get in the car. When you’re settled in your seat, you want to grab your phone, and you realize it’s not in your bag. Uh oh.
In panic mode, when you get home, you log into your computer with Find my iPhone, only to discover that your precious phone is already across town. “It must have fallen out of my bag on the way to the car, and someone picked it up.”
Will you have to pay for a replacement phone? Well, that depends on whether you have cell phone insurance and the type of insurance you have.
Getting coverage for your phone is probably one of the last things you want to deal with because phone theft happens to everyone else except you, right? But it only takes one boot to make you want to have the right coverage.
Considering getting phone insurance raises a lot of questions. Is it worth taking out phone insurance for things like screen cracks? What about water damage? And what is the right plan for you?
We’re here to answer your most important questions about cell phone insurance.
Do renters or homeowners insurance cover phones?
Most people don’t realize this, but renters and homeowners insurance covers your phone in certain specific circumstances. These insurance policies usually automatically cover your phone (and other things) for things like theft, vandalism, fire, and other damage.
So if your new phone was stolen while you were away from home or traveling abroad, your homeowners or renters insurance wouldn’t cover it.
I understand when homeowners’ or renters’ insurance kicks in and when so-called “mobile phone insurance” would is critical.
What is the difference between mobile phone insurance and renters insurance?
In addition to any coverage you have from your homeowners or renters insurance, there are specific third-party plans that are only meant to cover your phone.
There are some consistent differences between these specific phone protection plans and how your homeowner’s or renters’ policy would cover your phone.
First of all, almost all of these available plans would cover accidental damage (such as broken screens or liquid damage), while renters insurance does not.
That said, some insurance plans can protect your phone against accidental loss or theft. Be sure to ask for the details of your specific policy.
What is a phone insurance plan worth buying?
Choosing a plan really depends on your lifestyle, habits, and how much you’d be able to pay upfront if you needed a replacement phone. Again, if you tend to be unlucky when it comes to your phone, you may want to have renters or homeowners insurance and a cell phone-specific insurance policy. You decide.
Different types of loss or damage have different costs, and replacing a stolen smartphone is much more expensive than repairing a smartphone screen.
How do I insure my phone with home or cell phone insurance?
If you decide to protect your phone with home or ATT cell phone insurance, getting a policy is very easy!
All you need to do is get a basic insurance policy, which takes less than 2 minutes.
