How much is the annual or monthly premium? You should find an insurance contract with a monthly premium that coincides with the initial cost of the cell phone. Higher premiums for expensive units, cheaper premiums for low-cost units. Period. This should narrow down your choices of insurance plan by a large margin.
The reason for this is you might end up paying more for a refurbished (meaning reconditioned) unit than you would if you bought a brand new cell phone. Let's say you bought a cell phone for $500. Then $4 to $6 a month for premium isn't bad at all. But if you're paying the same amount for a $150 cell phone unit, forget it.
What does the policy cover? If you don't have a history of forgetting your cell phone at the men's or ladies' room, you could save money by applying for insurance that only covers loss and electronic malfunction. But if you're applying for insurance on your kid's cell phone, you might want to throw in accidental loss, too. Kids tend to forget everything these days. Even cell phones.
Is there a waiting period before coverage starts? Some cell phone insurance companies start coverage right away. But if they don't, how long do you have wait? Most waiting periods last anywhere from 2 months up to 6 months.
Take note that during this waiting period your cell phone could either get lost or simply stop working altogether. When this happens, the insurance company isn't liable to provide anything for you. So you have no choice but to buy a new cell phone with your own money. Ask about the waiting period before you decide on a cell phone insurance plan.
Only you know what type of cell phone insurance plan works best for you. The one most important advice we could offer is for you to read the rules and policies very carefully before you sign anything. Read the whole thing twice if you have to. You won't regret following this piece of advice in due time.
