Some say cell phone insurance coverage is indispensable. Some say they don't need cell phone insurance at all. We figured the only way to settle this dilemma is by looking at the raw numbers and policies of different cell phone carriers and insurance companies.
So let's compare, shall we?
AT&T Wireless Phone Insurance
Key information:
Premium is $.499 per month
Deductible is $50 per claim
The client is allowed a maximum of 2 replacements within a 12-month period after the first replacement. The client is canceled from the program after the second replacement. He or she can re-apply for cell phone insurance 12 months after the second replacement.
Coverage:
Cell phone, including wireless handheld devices
One standard battery
One standard charger
Accessories: one leather case, one ear piece or vehicle charger power, one SIM card per claim
Verizon Wireless – Asurion
Verizon Wireless is the unit carrier, while Asurion is a third-party cell phone insurance company working to protect Verizon cell phones from loss, theft and accidental damage. You must however report the case within 60 days of the incident – Asurion does not accept insurance claims after that period.
Key information:
$4.99 per month for one cell phone unit
$50 non-refundable deductible per claim
A limit of 2 claims within a 12-month period after the first loss
The monthly premiums is charged directly to the client's Verizon Wireless bill.
Sprint Mobile Phone Insurance
Sprint/Nextel's cell phone insurance protects clients from cases of theft, loss, incidental damage or accidents.
Coverage:
Sprint and Nextel cell phones
RIM handhelds
What it doesn't cover:
Cell phone accessories
Limited-edition models
Key information:
$4.00 a month for one cell phone unit
$50 deductible per valid claim
$100 deductible for the following units: Blackberry 7510, Blackberry 6510, i860, i830, i9Scl
Take note that Sprint/Nextel replacements may be new or refurbished.
It's nice to know we have options. Knowing the bad rep of cell phone insurance schemes these days, you should weigh the factors very carefully before you apply for insurance coverage for your cell phone.
