theft/loss cell phone insurance
#1
Registered Idiot
Thread Starter
theft/loss cell phone insurance
I own the phone myself, phone number is on the corp account at work.
cant insure it through AT&T because work wont insure a phone that's not theirs.
anyone use a 3rd party insurance for theft/loss?
I've got Apple Care, so i'm covered for damage
cant insure it through AT&T because work wont insure a phone that's not theirs.
anyone use a 3rd party insurance for theft/loss?
I've got Apple Care, so i'm covered for damage
#2
Home owners insurance?
#3
Needs more Lemon Pledge
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julius071 (04-06-2017)
#4
I suppose it depends on your insurer and the rider policy terms. But < A Detailed Guide to Cellphone Insurance in the US > found that most have no deductible.
The downside according to article is
Insuring on Your Homeowners / Renters Insurance Policy
Most modern smartphones have a retail MSRP over $500 these days, and as such, qualify pretty easily under most homeowners and renters insurance as a valuable possession that can be covered under your policy. This is a very case-by-case solution to insuring your phone—so specifics on cost here are hard to measure—but the general consensus I've found in terms of estimates are anywhere between $10 and $50 a year on top of your existing policy, depending on your insurer and the value of your phone. Note that this is different from merely claiming your phone as personal property on your homeowners in the event of a covered loss -- you're adding specific coverage for this possession as a valuable personal article.
How do you go about insuring your phone this way? You'll have to call your insurer or the agent who handles your policy and request that they add a rider (aka floater) provision to your existing policy specifically for your smartphone(s). You may need to provide a receipt or other proof of your phone's value, but once you do, it's covered. The best part? Most rider provisions have no deductible, and you'll be reimbursed the full insured value of the item in the event of a loss. Exactly what situations your phone is covered under will vary, but generally personal article riders cover a very broad number of scenarios. That means you will not be limited to only the loss situations covered under your larger policy, which are substantially fewer. You'll only be limited to the specific exclusions of the rider, which you should of course ask for.
Most modern smartphones have a retail MSRP over $500 these days, and as such, qualify pretty easily under most homeowners and renters insurance as a valuable possession that can be covered under your policy. This is a very case-by-case solution to insuring your phone—so specifics on cost here are hard to measure—but the general consensus I've found in terms of estimates are anywhere between $10 and $50 a year on top of your existing policy, depending on your insurer and the value of your phone. Note that this is different from merely claiming your phone as personal property on your homeowners in the event of a covered loss -- you're adding specific coverage for this possession as a valuable personal article.
How do you go about insuring your phone this way? You'll have to call your insurer or the agent who handles your policy and request that they add a rider (aka floater) provision to your existing policy specifically for your smartphone(s). You may need to provide a receipt or other proof of your phone's value, but once you do, it's covered. The best part? Most rider provisions have no deductible, and you'll be reimbursed the full insured value of the item in the event of a loss. Exactly what situations your phone is covered under will vary, but generally personal article riders cover a very broad number of scenarios. That means you will not be limited to only the loss situations covered under your larger policy, which are substantially fewer. You'll only be limited to the specific exclusions of the rider, which you should of course ask for.
The downside according to article is
In the event of a loss, though, you do have to weigh the value of making a claim on your homeowners or renters insurance for a single item (if your phone is all that is claimed), as your rates will likely go up substantially when you renew the policy. You could also potentially be dropped by your insurer, an increasingly common practice. And every time you get a new phone, you'll have to call your insurer to get rid of the old rider and add a new one.
Is this more complicated than just buying a phone insurance plan? Yes. Is it probably worth doing if you already have a homeowners / renters policy anyway? Even at the high end of $50 a year (around $4 a month), it's hard to argue with the value. It's a little extra peace of mind, if nothing else. While you're at it, you can also insure other expensive gizmos this way—high-end photo gear and laptops, for example. You may not want to claim any of these things alone on your homeowners, but in the event something happens that results in the loss of numerous valuables (eg, your car is broken into while you're at a hotel and your laptop, phone, and camera are all stolen), it may just be worth it. Be sure to ask about international loss coverage as well—many insurers restrict these policies to domestic claims.
Is this more complicated than just buying a phone insurance plan? Yes. Is it probably worth doing if you already have a homeowners / renters policy anyway? Even at the high end of $50 a year (around $4 a month), it's hard to argue with the value. It's a little extra peace of mind, if nothing else. While you're at it, you can also insure other expensive gizmos this way—high-end photo gear and laptops, for example. You may not want to claim any of these things alone on your homeowners, but in the event something happens that results in the loss of numerous valuables (eg, your car is broken into while you're at a hotel and your laptop, phone, and camera are all stolen), it may just be worth it. Be sure to ask about international loss coverage as well—many insurers restrict these policies to domestic claims.