Insurance coverage for your cell phone

There is no denying that most of us would be lost without our mobile phones. They are our personal sidekicks, our closest connections with friends, and our family photo albums. So when something goes wrong, and your phone is stolen or damaged, the last thing you need to worry about is the cost of replacing it. This is where Att insurance comes into play. But is your standard home insurance policy enough, or should you purchase additional cell phone coverage? We’ve got the answers to your questions, plus a breakdown of the key differences between home insurance and mobile phone insurance.

Does home insurance cover your cell phone?

Yes. Your home, condo, or renters insurance policy covers your phone in many different situations. This is what you need to know:

Home insurance covers cell phone theft.

Theft of your cell phone is covered by your standard home, condo, or renters insurance policy. So you’re covered if your phone is stolen from your vehicle or picked up by a pickpocket.

Home insurance covers damage to your phone (usually)

Home insurance, condo insurance, and renters insurance cover damage to your phone in the event of vandalism, fire, or any other peril covered by your policy.

Home insurance does not cover technical problems or accidental damage

Most home insurance policies don’t cover technical problems or accidental damage to your phone. So if your phone suddenly stops working or you drop it in the toilet, it won’t be covered.

Do you have to pay your deductible if your phone is stolen or damaged?

If your phone is stolen or damaged, your home insurance deductible will apply as stated in your policy, just as it would for any other insurance claim. 

What type of insurance is available?

Many phone protection plans cover accidental damage and technical problems, neither of which would be covered by a homeowners or renters insurance policy. Other phone protection plans only cover technical issues, but you’re on your own if your phone accidentally gets damaged. Most mobile phone insurance policies include theft and accidental loss.

Limits and deductibles

Many cell phone protection plans put a limit on the number of claims you can make per year, and most have deductibles that vary based on the type of damage done to your phone. Deductibles for cell phone insurance policies are typically lower than deductibles for home or regular renters insurance.

What is the difference between home insurance and mobile phone insurance?

While each insurance provider and the phone company will have different rules and exclusions when it comes to ensuring your cell phone, here are the key differences between the coverage typically provided by your home insurance policy and cell phone coverage.

HOME, CONDO, OR RENTER INSURANCE MOBILE PHONE INSURANCE

Accidental loss or damage is not covered. Technical problems are not covered. Theft is covered. Your coverage may be subject to a deductible, which means you may not get the full replacement cost of your phone if it’s stolen. The coverage applies to all your belongings. There is no specific limit on the number of claims you can make. Accidental damage (like a cracked screen or water damage) is usually covered. Technical problems are usually covered. Some basic policies do not cover theft. Deductibles tend to be lower than home or renters insurance policies. Coverage only applies to your phone. There may be a limit to the number of claims you can make in a given time period.

Should you buy mobile phone insurance?

The short answer is, it depends. If you know that you are prone to losing your phone or breaking the screen, then you may want to consider purchasing mobile phone insurance. If you’re not afraid of losing or breaking your phone, but want to make sure it’s covered for theft and other major events, then your home, condo, or renters insurance policy might be enough coverage for you.

Another important factor in this decision is your deductible. If you don’t feel comfortable paying your home insurance deductible if something were to happen to your phone, you may be more comfortable with the potentially lower deductible offered on a mobile phone insurance policy.

Before you make a decision, be sure to carefully review the coverage details outlined in a mobile phone insurance policy to know exactly what’s included, what’s excluded, and how the limits and deductibles work before signing up. If you have questions about how your current home, condo, or renters insurance policy would apply if something were to happen to your mobile phone, contact our advisors so they can provide you with all the information you need.