Cell phone insurance has much the same with getting your house insured or your car insured: it protects the owner and his or her cell phone from theft and other similar circumstances.
So you ask yourself, do I need cell phone insurance? Yes. But why? If you didn't know, nearly 15,000 cell phone units are reported lost or stolen every month, some 700,000 units lost every year in the US. These are big numbers, and there's no telling when your cell phone could end up as one of these. Don't wait for your cell phone to get lost or stolen before you realize you need the insurance.
You should talk to a cell phone insurance agent about what is and what isn't covered by their cell phone insurance scheme. Most insurance cover mechanical breakdowns and even consequential loss, but make sure you clear it up with them first before you sign anything.
On cell phone insurance coverage: What is true and what isn't Cell phone insurance companies are always looking for ways to protect themselves from fraudulent cell phone insurance claims. Here is a list of claim payment exclusions observed by most cell phone insurance companies:
The cell phone was stolen from an unattended vehicle Loss, theft or damage when the cell phone was lent to a friend or third party Electronic and mechanical disruptions Tampering with the cell phone Damage as a result of wear and tear Damage or loss from any water-borne craft Loss as a result of willful act by the owner
You shouldn't worry about the cost. Premium for cell phone insurance is cheap, around $4 a month, just about. It's a small price to pay compared to buying a new unit every time the old one got lost or stolen. Think about it. If your cell phone means so much to you, get it insured now.
