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There are numerous top-rated cell phone insurance providers out there, leaving consumers to wonder if purchasing a specific plan for their smartphone is a good idea. Why? Because if you don’t know how to repair a phone, then you’re left with shelling out big bucks to buy a new one. But with cell phone insurance, you won’t have to worry about getting a new one each time it breaks.
KEY TAKEAWAYS:
Phone insurance plans (like AppleCare) are extremely popular, though their overall value is up to the individual consumers. There are a number of factors that could contribute to an individual’s decision to purchase smartphone insurance. For instance, you may consider subscribing to a Sprint policy because of the flexible spending accounts. However, is sprint insurance worth it in terms of additional benefits such as cloud storage? Moreover, shouldn’t you just look into Sprint Screen Repair instead if you just have screen damage? That might be a cheaper option.
Here are some questions you should ask yourself if you are unsure if you should purchase an insurance plan for your smartphone.
Insider Tip
If you are someone who is relatively careful and cautious when it comes to protecting electronic devices, then you may not need smartphone insurance.
If your smartphone is already under an extended manufacturer’s warranty, then you may not need phone insurance. Many of these warranties will cover sudden breakages, saving you the need to purchase dedicated smartphone insurance. These warranties, however, do not typically cover accidental damage, theft, or loss. For instance, you may opt for geek squad insurance because your manufacturer warranty doesn’t cover some important repairs. But overall, is geek squad insurance worth it?
If you are someone who is relatively careful and cautious when it comes to protecting electronic devices, then you may not need smartphone insurance. You could get it by investing in a decent case and screen protector instead. If you tend to be negligent when it comes to gadgets, however, then you should look into purchasing a smartphone insurance plan.
Smartphone insurance plans can cost around five to ten dollars per month, and the deductibles can be as high as $150 per year. Make sure your budget can allow for these new expenses.
If you simply do not want to spend money on smartphone insurance, here are some similar methods to achieve a positive result and protect your expensive phone.
Investing in a high-quality protective case and a screen protector can go a long way toward reducing the need for a dedicated insurance plan.
Investing in a high-quality protective case and a screen protector can go a long way toward reducing the need for a dedicated insurance plan. These cases help prevent damage due to accidental drops, though may not help with water damage.
There are numerous repair shops dedicated to fixing smartphones. Many of these shops are relatively inexpensive, and purchasing one repair ticket can be cheaper than springing for an entire year of insurance.
Many credit card companies offer free smartphone insurance as a bonus for signing up. Wells Fargo, for instance, will give a year of free smartphone insurance to new customers. Take a look at the offers available in your area.
Warning
If you tend to be negligent when it comes to gadgets, however, then you should look into purchasing a smartphone insurance plan.
Are there alternatives to smartphone insurance?
Yes. Some credit cards offer free smartphone insurance as a perk, and certain homeowner’s insurance policies will extend coverage to phones.
How much is phone insurance?
Smartphone insurance can range from five to ten dollars a month, with certain plans costing up to 15 dollars monthly. This monthly fee can typically be reduced if you pay for a year upfront.
Should you get month-to-month phone insurance?
Month-to-month phone insurance could be a good option, as you will not have to pay a lump sum upfront. Be aware of the deductible, however, before making a purchase.
STAT: In a Consumer Reports survey, 81 percent of people with a smartphone and young children at home said at least one phone had been lost in the previous two years. (source)
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