Does Renters Insurance Cover Cell Phone

Renters and homeowners may be wondering if they can forego purchasing a top tier cell phone insurance plan, particularly if they already have renters or homeowners insurance.

KEY TAKEAWAYS:

  • Most renters and homeowners insurance plans will cover smartphones in certain instances.
  • Many of these plans will replace a phone if it is stolen from the home, or even from a hotel room while traveling.
  • Renters and homeowners insurance plans also offer coverage in the event of a natural disaster.

Does Renters and Homeowners Insurance Cover Cell Phones?

Renters and homeowners insurance plans will offer coverage to your smartphone under certain and extremely specific circumstances.

Insider Tip

If your smartphone is stolen from your home, it will likely be covered by a renters or homeowners insurance plan.

When Will Renters or Homeowners Insurance Plans Cover a Smartphone?

There are a number of instances in which a renters or homeowners insurance plan will offer coverage to a smartphone. It can be useful to know exactly what one of these plans will cover when it comes to a smartphone and a related gadget. Just in the same way you should know if your phone insurance covers water damage, suppose you are using one.

Stolen Property

If your smartphone is stolen from your home, it will likely be covered by a renters or homeowners insurance plan. These plans can even extend to travel, as many insurance plans offer coverage for theft that occurs while you are not at home. For instance, if your hotel room was broken into and your phone was stolen, a renters insurance plan could actually cover that scenario. Be sure to read the fine print of your specific plan, as not all insurance carriers will offer coverage during travel. Most plans, for instance, will cover stolen phones but not lost phones.

Insider Tip

Renters and homeowners insurance plans typically offer extended coverage in the event of a major natural disaster, such as a hurricane.

Major Disasters

Renters and homeowners insurance plans typically offer extended coverage in the event of a major natural disaster, such as a hurricane. In other words, if hurricane-force winds blow your window out and your smartphone is damaged in the process, the insurance plan should pay for the repairs or a replacement. It is of paramount importance to be aware of which types of disasters your insurance plan covers, as many will not offer coverage for floods and some other common types of mass tragedies.

Overall Damage

Some renters and homeowners insurance plans may offer a smartphone-specific rider that allows for coverage in the event of damage and malfunction such as cracked screens. If your plan has one such clause, that would nearly negate any possible need for a dedicated smartphone insurance plan. However, if it does not have such a plan, opting for a dedicated plan such as Verizon cover is a good option. Still, you have to know if the Verizon insurance covers the cracked screen or any other damage. The number and amount of benefits offered will vary from plan to plan and it is important to make a distinction for smartphones primarily used for business tasks. Homeowner’s and renter’s insurance plans will not typically allow coverage for items primarily used for business.

Warning

Be sure to read the fine print of your specific plan, as not all insurance carriers will offer coverage during travel.

F.A.Q.

What’s the difference between mobile phone insurance and renters insurance?

Renters insurance pertains to all items under the purview of a rented home, while mobile phone insurance pertains to just a smartphone or tablet.


Which phone insurance plan is worth getting?

This depends on a number of variables, including personal preference, what type of phone you have, and the type of coverage on offer.


How much renters insurance do I need?

Renters insurance plans allow the consumer to set the benefit limit amount, with a higher number translating to an increased monthly premium. Set this benefit limit amount to cover the items you are concerned about.



STAT: Renters insurance premiums fell 2.7 percent in 2017. (source)

Lawrence Bonk

Lawrence Bonk is a copywriter with a decade of experience in the tech space, with columns appearing in Engadget, Huffington Post and CBS, among others. He has a cat named Cinnamon.

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