Best Cell Phone Insurance Plans
When choosing the right smartphone, most people think about memory space, apps, service plans, and phone service. However, there’s one thing worth considering: cell phone insurance plans. A good smartphone insurance plan should give consumers less to worry about in case something happens to their phones. Now the question is, “What are the best smartphone insurance plans?” Fortunately we did the homework for you, and here’s what we found out.
The iPhone is, without a doubt, the most popular smartphone. The latest upgrade, iPhone 7, features many upgrades, including water resistance, a quad-core processor, and 32GB of starting memory. Unfortunately, it also has a lot of downgrades, such as a crappy battery life, high costs, and no headphone jack (which has been the number one complaint so far).
Nevertheless, the iPhone 7 offers a wide variety of insurance plan options. AppleCare+ offers a two-year warranty, accident insurance, and additional services for $99. This is of course in addition to the upfront cost of the phone and your particular monthly plan. If you do decide to go with AppleCare+, you’ll need to choose it within 60 days of buying your phone. SquareTrade, on the other hand, offers three affordable alternatives to AppleCare+. You can choose either a three-year plan for $179, a two-year plan for $149, or a one-year plan for $89. Unfortunately, you’ll have to send your phone to them for maintenance, which will take a number of days before you can see your phone again.
There’s also the option of a carrier plan, and you can add these to your monthly bill instead of paying it all at once. Carrier warranties are also the only warranties that cover theft and loss, which neither AppleCare+ nor SquareTrade provide (although it does cost extra). As far as prices, it depends on your carrier. AT&T, for example, offers mobile insurance for $6.99 a month. Retailers like Best Buy can give you $7.99 per month coverage plus repair, and credit card companies like Visa and Master Card might offer smartphone insurance as well. It’s always best to double-check, of course.
If you can’t afford an iPhone 7, there are several Android phone options you can choose. The Samsung Galaxy Note 5, for example, has a 5.7 inch screen that gives you plenty of room for an S Pen, and its average monthly plan is $66.63 a month. The best part is, unlike the Note 7, this one doesn’t blow up in your face. The ZTE Axon 7 is another affordable smartphone that only costs around $400. The bad news is it doesn’t support either Verizon or Sprint. Then there’s the Moto Z, which is the thinnest smartphone ever made. Its design and modular accessories make it one of the longest lasting phones on the market. Unfortunately, its thin design means there’s no room for a headphone jack.
The best Android phone, however, is the Samsung Galaxy S7 Edge. It has a curved display, a 5.5 inch screen, and a 12MP resolution which makes it the best camera for an Android smartphone. The only drawback is its monthly plan ranges from $75 to $89 a month.
Most of the insurance plans mentioned above also available for Android phones as well, with the exception of AppleCare+, of course. There are also additional options you can choose, including Protect Your Bubble, Geek Squad, and Mobile Rhino. Protect Your Bubble a two-year warranty for prices starting at $5.99 a month with deductibles ranging from $75 to $150 and unlimited replacement allowances. It covers accidental damage, water damage, drops, and battery damage, but not theft and loss. Geek Squad, on other hand, does cover theft and loss, along with everything else Protect Your Bubble covers. Prices range from $7.99-10.99 a month, deductibles range from $149 to $249, and the coverage lasts from one to five years. Mobile Rhino is the most expensive option with prices ranging from $99 to $129 for a year’s worth of coverage, although it does cover everything including theft and loss.
After comparing prices and coverage, the best smartphone insurance plan is SquareTrade. Plans range from $5 to $8 a month with a $99 deductible, and it will cover your phone up to five years. True, there is no theft/loss coverage, but if you want to save money, SquareTrade offers more for less. That being said, it’s best to take your time and shop around for the insurance plan that best fits you and your needs. It’s your phone, so it’s up to you to decide the best way to cover it.