add share buttons
Basics Of Mobile Phone Insurance

Basics Of Mobile Phone Insurance

A mobile phone is one of life’s essentials. We are so reliant on our phone that losing or accidentally damaging a cell phone constitutes a major crisis. Therefore, cell phones are expensive and can’t afford to replace a cell phone right away. That is why phone insurance can seem like an appealing option.

Like other forms of insurace, phone insurace is a hedge against risk. Specifically, phone insurance provides some protection against the loss, theft or destruction of your phone. Phone insurance may be offered to you when you buy your phone through your provider. Alternatively, many companies such as Sfam provides mobile phone insurace policy online, you can avail it from there.

MOBILE PHONE INSURANCE
Image Source: Google

In this article, we will discuss some basics of mobile phone insurance in great detail.

A smartphone can be an expensive investment. When you take into account its value, how often you will use it? How easy it is to steal and how relatively fragile it is, owning a phone can be stressful.

However, if you buy your phone through one of the major providers, there are options for protecting your device and your wallet. All of the big carriers offer phone insurance, either as an add-on to your monthly plan cost when you sign up or brought separately if you decide you will need it down the track.

MOBILE PHONE INSURANCE
Image Source: Google

Is phone insurance worth it?

Phone Insurance can add significant expense to your budget. Like health insurance, phone insurace generally comes with both premiums and deductible. Phone insurance deductibles are usually around $200. The deductible is the amount you must pay before you can get. So id you a chronic phone loser, your policy might cut you off.

So, is it worth it? Well, you may already have some coverage for your phone. Some phone plans come with built-in phone insurace, so before you evaluate whether to buy an add-on policy, take a look at your current plan to see whether you are already covered. It is also worth taking at the terms of your credit card, which may offer an extended warranty on your phone.

INSURANCE PLANS
Image Source: Google

If your phone is lost, stolen or damaged, you might want to dip into your savings to get a new, used or refurbished phone as a replacement. If you have some liquidity in your budget in the form of cash savings, opting out of phone insurance and buying a replacement phone could turn out to be a cheaper option. Check out here to learn whether insuring your phone is a wise investment or waste of money in great detail.

 

Comments are closed.