How to pick the best mobile phone insurance plan?

There was a time when phones had limited features and small prices. However, in today’s world where smartphones have become an important part of our lives, people don’t mind spending anywhere from $500-1000 on a smartphone for a premium experience – iPhones are the perfect example of this category. However, there are also many people who spend a fortune on brand new phones and lose them before completing one full year even. 

If you have a habit of using your smartphone recklessly or in case you worry about losing your phone, then it’s highly recommended that you get a good mobile phone insurance plan. 

Why picking a protection plan is actually a good idea

Today, you are free to pick any kind of mobile insurance plan you want, but you should get one for sure. This is because even though smartphones have become quite robust today, thanks to upgrades like gorilla glass and water resistance, they aren’t 100% impervious to jolts, severe water damage, etc. Plus, you never know when you become a victim of theft or burglary. So, if you own a really cheap smartphone, then maybe you don’t have to get insurance. If your phone is premium, however, then you have to see the merit in a good mobile insurance plan.

Now that you know the importance of mobile insurance, you may want to know how you can go about finding the perfect program? Let’s find out.

The following are your typical options:

Top of the Line Plans

It’s no secret that iPhones are expensive (iPhone Pro Max costs a whopping $1,099). So, if you own one, then you have a good reason to get your phone insured. The good news is that you can use the company-offered protection plan available under AppleCare+. It’s one of the best insurance plans that you can get. This is because apart from fast claim settlements, the company also offers dedicated customer support via chat and phone 24/7. As if that’s not enough, the cover also includes the earphones, battery, and other accessories. 

Just like Apple, Samsung is another top player in the smartphone industry and it rules the Android market. So, if you are an Android user instead, then you can get your phone insured under the Samsung Protection Plus plan which offers packages anywhere from $99 to $129 for a 2-year period. The plan covers damages including electrical issues, mechanical issues, etc. You also get up to 2 replacements per year which are simply incredible!

Carrier-offered plans

This might surprise you, but wireless carrier companies also offer insurance plans. For instance, top players viz. T-Mobile, AT&T, and Verizon, all offer mobile phone insurance plans. These are as follows:

Sprint’s mobile insurance:

It’s available under the range of $9-17 a month and covers physical damage, water damage, repairs, etc. The service can be obtained both at the stores and through the mail. 

AT&T mobile insurance:

This plan is available at the cost of $8.99 per month and covers all the basic damages including liquid damage, physical damage, etc. You also need to keep the deductibles in mind that range from $25 to $255 depending on your device. However, these continue to decline over time which is a big plus.

Verizon’s Total Mobile Protection Plan:

Verizon’s mobile insurance is available at $13 per month and covers theft, damage, and also cracked screens. Next-day delivery for repairs is another thing that makes this option quite attractive. The deductibles range from $19 to $199.

Third-Party plans

If the standard plan offered by your phone’s manufacturer doesn’t meet your requirements, and you aren’t particularly happy with the plans of carriers either, then you can consider third-party policies. Geek Squad is a good option that’s offered by the popular retailer Best Buy. Another good option is SquareTrade that offers protection for $89-129 a year and covers a variety of problems like screen failure, sound failure, etc. 

There are many mobile phone insurance plans in the market. However, you should pick the one that fits your budget, covers the issues that you are more susceptible to (screen replacements, thefts, etc.), and allows you to sign up within the period available (many plans offer protection only if you sign up within 2-4 weeks of purchasing the smartphone). Lastly, don’t forget to compare the prices. Good luck!