Is cell phone insurance worth it?
Smartphones are more likely to get damaged than any other electronic device, and the average cell phone repair claim payout is $331.75. Cell phone insurance plans cover repairs not covered by the manufacturer's warranty as well as theft. It's like any other insurance plan where you pay a premium for your coverage, and the insurer will pay out for repairs or replacement in the event of a covered loss.
Explore Progressive's editorial standards for Answers articles to find out why you can trust the insurance information you find here.
What does cell phone insurance cover?
Depending on your plan, cell phone insurance typically covers damage caused by accidents and theft, up to a selected limit or the replacement cost of your phone. Although coverage plans vary by carrier, here's what a cell phone insurance plan from Progressive Phone and Electronic Device Insurance by Worth Ave. Group covers, regardless of your phone's age, make, model, or if it's new, used, or refurbished:
- Liquid damage
- Theft and vandalism
- Drops and accidental damage
- Breaks and cracked screens
- Fire, flood, and natural disasters
- Power surges from lightning
Worth Ave. allows for unlimited claims throughout your term, though a deductible will apply. See how Progressive Phone and Electronic Device Insurance by Worth Ave. compares to other cell phone insurance plans.
What isn't covered by cell phone insurance?
Here's a list of what a cell phone insurance plan typically won't cover:
- Tampering
- Modifications
- Natural wear and tear
- Cosmetic flaws
- Unauthorized repairs
- Losing your phone
Cell phones often come with a manufacturer's warranty that may cover, for a limited time after purchasing, defects and malfunctions that are the fault of the manufacturer. For example, if your charging port, camera, or software is defective within a month of purchasing and it's a manufacturing error, your phone's warranty might cover the cost of fixing or replacing your cell phone. Cell phone insurance is for accidents and damages that your manufacturer's warranty won't cover.
Want to protect your computer, too? Learn about computer or laptop insurance by Worth Ave. Group through Progressive.
How much is a cell phone insurance plan?
The cost of your cell phone insurance plan will depend on your insurer, device, and deductible. With Progressive Phone and Electronic Device Insurance by Worth Ave., two years of insurance for an $850 iPhone can cost as low as $8 per month* with unlimited claims. Plus you'll get a 5% discount when you buy your policy through Progressive.
Keep in mind, most cell phone insurance deductibles range from $50 to $200 but can vary based on your phone's brand, model, and age, and your coverage amount and plan terms.
Why should I get insurance on my phone?
The high cost to repair or replace a smartphone can make insurance a near necessity. And your phone is likely a vital part of your day-to-day life, whether for business or personal use. Suddenly damaging it would immediately disrupt your ability to communicate with friends, family, and co-workers. But with smartphone insurance, a potentially expensive and inconvenient problem becomes easy to fix.
How often do people break their phones?
Damaging a phone is not uncommon. In fact, Worth Ave. Group has found that one out of five policyholders who file a claim related to their electronic device do so in the first year of protection. While accidents can happen anywhere and at any time, drops account for 42.7% of Worth Ave. Group's electronic device repair claims, and cracked screens account for 37%. Theft and liquid damage follow as the next most common types of damage, 8.12% and 6.75%, respectively.
How much does a smartphone cost to repair?
Worth Ave. Group pays out an average of $331.75 per cell phone insurance repair claim. One cracked screen repair could make having cell phone insurance well worth your premium.
Still not sure if you need mobile phone protection? Consider these questions when deciding if you should get cell phone insurance:
- Do you have a history of having your phone stolen or dropping it?
- Do you use your phone while exercising or being active?
- Do you have children who use your phone?
- Do you own a smartphone or iPhone that would be costly to replace without insurance?
- Do you rely on your personal phone for business and would need a repair or replacement as soon as possible if it was damaged or stolen?
- Do you work in extreme conditions or near water or heavy machinery that could put your phone at risk?
If your answer is "yes" for any of the above, cell phone insurance can be a smart choice. If you're not prepared to spend hundreds of dollars to repair or replace your phone at any moment, cell phone insurance can save you time, money, and the headache of being stranded 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.
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Call 1-844-571-6742 and speak with a representative today.
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Learn more about electronic device insurance plans.
