A Complete Guide to choosing the best smartphone insurance plans. We have compiled a list of 5 best cellphone insurance plans which are worth looking at if you are planning to get a new insurance plan for your cell phone.
Selection of the best insurance plans for the smartphone can be mind boggling. As the smartphones nowadays are highly priced, therefore, choice of a good warranty plan is a necessity. Most of the handsets whether iPhone or Android come with a limited warranty which does not cover drop or loss. Even after some time, additional protection program expires. So, a cellphone insurance plan is a good option as it provides warranty for the smartphone along with loss or damage coverage.
FAQs related to Smartphone Insurance Plan:
- Is loss covered?
- Is theft covered?
- How much is the plan’s deductible?
- What is the plan’s cancellation policy?
- Is water damage covered, if yes, does that include both spills and immersion?
- Is it a monthly payment or one-time fee?
- Will the replacement phone be the same model as the current phone?
- Is the replacement guaranteed?
- Is the number of replacements limited?
Asurion is a third-party insurance company that offers smartphone protection plans through the participating cell phone carrier like Metro PCS, Boost Mobile, Sprint, T-Mobile, AT&T, Verizon, Clear, Clear Wire, nTelos, Virgin Mobile and Time Warner Cable. Each cell phone carrier using Asurion has a distinct name for their protection plan and some carriers combine their warranty plans with Asurion.
Note: Users cannot buy Asurion protection plan on their own without a provider.
Users should be specific about the plans they are purchasing as they can be very confusing. For instance, Verizon’s Extended Limited Warranty does not cover issues related to battery or liquid spillage. However, Asurion Wireless Phone protection covers these issues which itself is a part of Verizon Total Equipment Coverage Package. So, one needs to be highly specific on their requirements while plan purchase.
Cost, terms, and conditions are the deciding factors of the plan. Some insurance plans include a deductible which means the amount user has to pay when the smartphone is lost. So, it is understood that cheaper plans will include a higher deductible.
5 Best Smartphone Insurance Plans:
| Parameters | Square Trade | Protect your bubble.com | Apple Care | Geek Squad | Mobile Rhino |
| Rank | #1 | #2 | #3 | #4 | #5 |
| Price | $5-8 a month | $5.99+ a month | $99 | $7.99-10.99 a month | $99-$129 |
| Deductible | $99 | $75-$150 ($50 for iPhones) | $79 | $149-$249* | $99 |
| Coverage Length | 1-5 years | 2 years | 2 years | 1-5 years | 1 year |
| Replacements Allowed | 1(sometimes additional) | Unlimited | 2 | 2-3 in 24-months* | 2 |
| Time to Add in Program | 30 Days or insured phone | 12-35 months | 60 Days of Purchase | 30 Days | Anytime |
| Covers Theft/Loss | No | No | No | Yes | Yes |
| Covers Accidental Damage | Yes | Yes | Yes | Yes | Yes |
| Covers Water Damage | Yes | Yes | Yes | Yes | Yes |
| Covers Drops | Yes | Yes | Yes | Yes | Yes |
| Covers Battery | Yes | Yes | Yes | Yes | Yes |
Square Trade
Warranties that makes sense!
Square Trade does not cover loss and theft, however; it has a lower base price than other plans. It has a higher deductible.
Details of Square Trade for iPhones and Android Smartphones:
Price: $5/month ($179 for 3-years)
$6/month ($149 for 2 years)
$7.50/month ($89 per year)
Deductible: $99
Coverage Length: 1-5 years, depends on the type of plan purchased
Number of Replacements Allowed: 1 – though in some cases, additional replacements are allowed for defective products.
Time to add the program: 1 month after purchase of smartphone that is currently insured by the carrier.
Note: User must purchase the coverage within 30 days of purchase or on an insured phone.
Parameters Covered under the Plan:
Loss: No
Theft: No
Accidental Damage: Yes
Water Damage: Yes (including immersion)
Drops: Yes
Mechanical Malfunction: Yes
Electrical Malfunction: Yes
Battery: Yes, if the original rechargeable battery is defective.
Service Cost: Labor included.
Type of Replacement: A new or refurbished product of same model or a cash settlement or a Gift Card reflecting the replacement cost of a new item of same features up to the Coverage Amount.
Replacement Time: No guarantee of time. Claims could be submitted online or by phone. If the phone can’t be fixed with troubleshooting, it will be directed to an authorized service center or given a free shipping label. Though Square Trade does say that they’ll fix it the day it arrives and overnight the phone back to you.
Cancellation Policy: Users can cancel anytime. A full refund can be received within a month; if canceled after 30 days; a pro-rata refund will be received based on the time remaining on the service agreement.
Protect Your Bubble.com
Protect your bubble.com does not cover loss or theft but it does give a low deductible price for smartphones.
Details of Protect Your Bubble.com for iPhones and Android Smartphones:
Price: Starts at $5.99/month
Deductible: $75 for basic phones; $150 for smartphones; $50 for iPhones
Coverage Length: 2 years
Number of Replacements Allowed: Unlimited
Time to add the program: Within 12-35 months of purchase as long as the phone is under warranty
Note: There is conflicting information about this company’s deductible fees. They claim a $50 deductible for iPhone but $150 for Samsung smartphones.
Parameters Covered under the Plan:
Loss: No
Theft: No
Accidental Damage: Yes
Water Damage: Yes
Drops: Yes
Mechanical Malfunction: Yes
Electrical Malfunction: Yes
Battery: Yes
Service: Labor included.
Type of Replacement: Replacement of the same model but claimed devices may be repaired or replaced with new or refurbished equipment or a different model than the original equipment.
Replacement Time: PYB will ship the replacement device for next day delivery if the claim is approved by 8:00 pm.
Cancellation Policy: Users have the right to cancel the coverage at any time without penalty and receive a refund of any applicable unearned premium.
Apple Care+
Apple Care program is available only for iPhone users. It does not cover loss or theft. One year of hardware repair coverage through Apple’s limited warranty and up to 90 days of complimentary support is applicable for every iPhone even without the Apple Care plan.
Details of Apple Care Program:
Price: $99 for 2 years (equivalent to $4.13 a month but not available on a monthly basis).
Deductible: $79
Coverage Length: 2 years
Number of Replacements Allowed: 2
Time to add the program: within 60 days of purchase
Parameters Covered under the Plan:
Loss: No
Theft: No
Accidental Damage: Yes
Water Damage: Yes
Drops: Yes
Mechanical Malfunction: Yes
Electrical Malfunction: Yes
Battery: Yes, if depletion is 50% of more from original specification
Service Cost: Labor included
Type of Replacement: A phone of the same model that is new or equivalent to new.
Replacement Time: For fastest service, bring iPhone into the Genius Bar at an Apple Store. Mail-in service is also available.
Cancellation Policy: Users can cancel anytime for any reason. If cancellation is within 30 days, users receive a full refund less the value of any service provided. After 30 days, a pro rata refund less a cancellation fee of $25 or 10% of the pro-rata amount, whichever is less will be received.
View Apple Care+ Plans on the link below:
http://www.apple.com/support/products/iphone.html
Geek Squad
Sure, it’s Best Buy, but they do cover theft and loss.
Geek Squad protection plan is available at many stores including Best Buy provided that the products are bought within last one month. A major advantage is that it covers loss or theft. Geek Squad’s Standard Plan prolongs the manufacturer’s warranty Accidental Damage from Handling Coverage (ADH) plan is recommended for great services.
Details of Best Buy’s Geek Squad Protection Program:
Price: $7.99/month for accidents, spills, and failures. $10.99/month includes the previously mentioned theft or loss.
Service Deductible: $149 for phones less than $799 and $199 for phones greater than $799.
Theft Deductible: $199 for phones less than $799 and $249 for phones greater than $799.
Coverage Length: 1-5 years, depending on type of plan purchased
Service Number of Replacements Allowed: 3 claims in 2 years
Theft Number of Replacements Allowed: 2 claims in rolling 12 months or 3 in 24 months.
Time to add the program: 30 days
Parameters Covered under the Plan:
Loss: Yes
Theft: Yes
Accidental Damage: Yes, if the product was being used as intended
Water Damage: Spills-Yes
Immersion- No
Drops: Yes, as long as the product did not drop from an elevated height such as a roof.
Mechanical Malfunction: Yes
Electrical Malfunction: Yes
Battery: Yes, if the original rechargeable battery is defective (1 per phone)
Service: Labor included
Type of Replacement: A new or refurbished product of the same model that is of comparable performance will be offered.
Replacement Time: One can schedule in-home service by phone or Internet 24/7.
Cancellation Policy: Users may cancel anytime. A pro-rata refund of the price paid for the Plan based on the percentage of the Plan’s unexpired term, less the cost of any service provided will be received. If canceled within 30 days, a full refund is given.
Mobile Rhino
Mobile Rhino covers loss and theft. It can be purchased anytime and renewed year after year. It has a high deductible amount but that doesn’t look like a monthly fee if we lose our phone.
Details of Mobile Rhino Protection Plan:
Price: Personal: $129
Business: $119
Education: $99
Deductible: $99
Coverage Length: 1 year
Number of Replacements Allowed: 2 per year or $1000 worth of merchandise, whichever comes first
Time to add the program: bCan be purchased at any time
Parameters Covered under the Plan:
Loss: Yes
Theft: Yes
Accidental Damage: Yes
Water Damage: Yes
Drops: Yes
Mechanical Malfunction: Yes
Electrical Malfunction: Yes
Battery: Yes
Service: Labor included
Type of Replacement: A new replacement of the same model as your phone will be given; equipment may be reconditioned.
Replacement Time: A replacement in 24-28 hours will be given. If the claim is submitted and approved by 2pm CST, the user will receive the replacement by 2pm CST the next day.
Cancellation Policy: One may cancel anytime. Any unearned premium will be refunded in accordance with law.
View Mobile Rhino Protection Plans on the link below:
http://www.mobile-rhino.com/
These are 5 aftermart smartphone insurance plans which found to be worthful. I hope this helped you to choose a cellphone insurance plan. Please share your thoughts in the comments below.
