Cell phones have become more advanced, and with that more expensive. Initially, having phone insurance did not necessarily seem worth it, so most people would forgo signing up for it. Replacing your phone would have not cost you much, and most likely by the time it broke, you needed a new one anyway. However, with contracts lasting longer and phones getting smarter and more advanced, phone insurance is beginning to seem more and more necessary.
There are a few things you still should consider when decided whether or not to go with phone insurance. The first being of course the cost of replacing your phone. Some phones now cost up towards a thousand dollars, if you have to buy it out of contract. Although when you first purchase it, it is significantly higher, replacement phones can cost you a lot of money. Depending on the brand, style and type of phone you purchased, the insurance will be worth purchasing. The easiest way to decide is to add up the monthly amount you would pay on insurance for the two years or however long your contract is. Then see how much it would cost to buy a brand new phone. If insurance still comes out less expensive, then it might be worth.
Another thing to consider about your insurance is repairs. First, would your insurance cover any repairs that you might need. Sometimes, phones do not completely break, but they do need to be repaired in order to function properly. One example is if there is a cracked screen. With touch phones, a cracked phone can make it near impossible to use your phone. However, the cost to fix iphone may be almost more than you paid for your phone to begin with. However, if you do need to do repairs to your phone, be sure to do your research. There are companies who will offer inexpensive repairs on all brands of phones. Some phone insurance will also cover any repairs that your phone needs. Consider this in the same way you did with replacing your phone. Add up the potential costs and see if the insurance ends up worth.
What is Actually Covered?
The most important thing to consider when deciding upon buying the phone insurance is what it actually covers. Some insurance only covers certain types of phone breakage and accidents. If it is not full coverage, it may not be worth considering. If you are paying so much for insurance, yet it will not help you repair or replace your phone because you caused the accident when you dropped your phone in your water glass, then it is not worth it. Additionally, you may not have your choice on where to get the phone repaired or replaced, so you might have to be out of a phone for longer than you want. Look for phone insurance plans that are all inclusive and work with your lifestyle. Like all contracts, it is worth reading the fine print.
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