Tech Tips

Is phone insurance worth it?

Our smartphones are a huge part of our lives. They help us stay connected to friends, family, and the rest of world. So when they break, it can be frustrating—and costly. 

In 2021, the average price of a smartphone is expected to rise to $633, according to Statista a market and consumer data firm. Some popular options from Apple®, Samsung®, and Google® can cost upwards of $1,000, and most people don’t have that kind of savings. According to a 2019 Federal Reserve report, 4 out of 10 Americans can’t afford to pay an unexpected $400 bill.  

There is, however, a potential solution: cell phone insurance. 

Is cell phone insurance worth it?  

For the majority of people, it is. Most plans can come in handy if your device breaks, gets lost, or is stolen. They can help you avoid paying the full price of a replacement and protect you from accidents related to water damage and cracked screens. Plus, they give you peace of mind.  

But phone insurance may not make sense for everyone. Let’s see if it’s right for you.  

5 questions to consider if you’re thinking about phone insurance 

  1. Do you rely on your phone for daily tasks? 
  2. Do you tend to drop or misplace you phone? 
  3. Do you have children who have cell phones? 
  4. If you’re on a monthly installment plan, can you pay the full cost of a replacement while paying off your old phone? 
  5. Do you want tech support to help quickly activate a replacement phone on your carrier’s network and transfer your data to your new device? 

If you answered “Yes” to any of the above, a phone insurance plan might be right for you. Let’s face it, the alternative means leaving your device unprotected.  

3 reasons why people may skip phone insurance 

  1. Your phone is paid off, and you can afford to pay the full price of a new device if it ever gets lost, stolen, or damaged. 
  2. You don’t rely on your phone for daily tasks and have the time to research and shop for a replacement device. 
  3. You’re tech-savvy enough to activate a replacement phone on your own, including transferring data from your old device or the cloud. 

If this sounds like you, you could be among the small group of people who may not need device protection based on cost savings alone. But remember—you’re busy, and your life doesn’t stop because you cracked your screen. With phone insurance, you can get convenient repairs when you need them, whether it’s a walk-in visit at a local store or a home visit by a qualified tech.  

What does phone insurance cover? 

Every year, 19 million phones are lost or stolen, yet most warranties don’t protect you from either. Some phone insurance plans do, however. They also cover the following:  

  1. Cracked phone screen and other accidental damage 
  2. Loss and theft  
  3. Normal wear and tear related to dust, internal heat, and humidity 
  4. Water damage from spills or submersion 
  5. Mechanical failures and defects after manufacturer’s warranty ends 
  6. Accessories that came with your devices, like the charger and earbuds 

How does phone insurance work?  

When you choose to protect your device, you receive comprehensive coverage for the items listed above, you save money, and you get convenience and peace of mind.  

Most plans require a monthly premium plus a deductible when you file a claim. Doing so is easy and only takes a few minutes to complete online or over the phone. If you need help with the claims process, here is a simple guide to filing a phone insurance claim with Asurion.

How phone insurance can save you time 

Waiting around with a broken phone can be frustrating. With insurance, however, you can quickly get your device fixed, whether it’s at your own home or a local repair shop. Either way, you’ll have your phone back up and running as soon as the same day. And if a technician can’t fix it, most replacement devices arrive in as little as 24 hours.  

How phone insurance can save you money 

Even if you wind up paying premiums and deductibles, phone insurance can help you avoid unexpected costs—especially if you’re paying in monthly installments. Without insurance, if something happens and you still have a balance, you could end up paying for your old phone and a brand-new replacement. Most insurance deductibles, however, cost far less.  

Protect it now.

For more than 25 years, Asurion has helped 300 million customers protect, connect, and enjoy the tech they love most. And smartphones are no exception. Your life is on your device, make sure it’s protected. Learn more about coverage and enroll in a phone insurance plan today.

Apple® is a registered trademark of Apple Inc. The Asurion® trademarks and logos are the property of Asurion, LLC. All rights reserved. All other trademarks are the property of their respective owners. Asurion is not affiliated with, sponsored by, or endorsed by any of the respective owners of the other trademarks appearing herein.