How to Insure your Phone from Loss, Theft or Damage

Written by S. Arteta and Fact Checked by The Law Dictionary Staff  

Cellular phones have become a necessity to everyone. Due to the increase of demand for cellular phones and to the increasing features that it provides it’s users, the loss or damage of said gadget could cause inconvenience to cell phone users. Thus, insurance companies have provided ways on how to insure one’s phone from loss, theft or damage.

It has been said that the protection that the cell phone service companies provide for cell phone users protects the latter’s wallet and helps them stay connected. Some insurance coverage includes any form of loss, theft, damage, and electrical and mechanical defects even after the manufacturer’s warranty expires. Most coverage includes a clause guaranteeing replacement of the device within a day.

Here are the steps on how to insure your cellular phone from loss, theft and/or damage:

  1. Enroll in mobile phone insurance
  2. File a claim in case the insured phone gets damaged or lost
  3. A replacement phone will be delivered to the owner within a day

The coverage includes the following risks:

  1. Loss, theft or accidental damage of the device. This may include liquid and physical damage.
  2. Electrical or mechanical defects after the manufacturer’s warranty has expired.
  3. Accessories.
  4. Claims limit which may be limited to 2 claims within any consecutive 12 months with a maximum device value of $1500 per occurrence of the event.
  5. Carrier’s fee which is non-deductible.
  6. Cancellation clause which allows the user to cancel the policy and to receive a pro-rated refund of his monthly contributions.

Usually, companies allow a time frame of 60 days, after the loss or damage of the phone, to file a claim. The damaged device must be returned to the company within 10-15 days. Otherwise, the user will be charged with non-return charges. The return policy does not apply in case of loss or stolen phones. But, in case the lost device is found, the owner must return the same to the company using the addressed prepaid return label included with the replacement device.

The owner may receive the same device as that which was lost or damaged. However, if the model is not anymore available, the company will have to match the feature functionality and other device quality of that which was lost or damaged to determine a replacement.

Phone insurance also covers the following gadgets: wireless devices, netbooks/notebooks/tablets, laptop connect cards, standard battery, standard battery charger, sim card and other accessories.

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