Insurance and Service Warranties are both ways to protect your smartphone, but there are some major differences one should know to help make the right choice.
Under the protection service, the same amount of coverage is issued from the manufacturer for a longer period of time. The service warranty covers the device malfunctioning, in a scenario when the smartphone does not fulfill its intended function. Service warranties do not cover other losses like lost or stolen phones. Experts say that extended warranties are not a good deal for most consumers.
The best solution to protect your device from any situation is to pick up Smartphone Insurance. The insurances cover technical faults, accidental breakages and thefts of the devise. Each insurance company has their own terms and conditions and hence it is advisable to have a better look at the terms and conditions offered. Choosing the best smartphone insurance plan or warranty program can leave your head spinning. Now with smartphones as expensive as $600, you don’t want to be caught without a plan in the middle of a contract. Hassel free claims, prompt replacement and easy access to unlimited advanced technical support are some of the promises that all insurers make.
There are two ways of getting smartphone insurance. Either it can be purchased from your wireless carrier in which case you only need to pay as add on to your wireless bill or it can purchased from a third party insurance company like eGranary
Insurance generally covers devise malfunctioning, damage, loss or theft. Insurance providers provide top tier insurance called Total Mobile Protection (TMP) which covers the mobile phone from all type of damages, but has a $99 to $199 deductible depending on the smartphone. Mobile phone users are spending millions of dollars every year on insurance that does not pay out. Majority people own expensive smartphones or blackberry worth $600. Experts say taking to cover a valuable item in case of theft or damage is a sensible move.
Most policies impose strict rules on when you can make a claim. For example you cannot make a claim immediately within one month of purchasing insurance. One must inform the insurance provided within 24 hours of losing your mobile so that it can be blocked or file for a police report within 48 hours. Phone insurance policies are littered by get out clauses and loop holes. The insurer will not cover the cost of fraud calls made after the mobile is stolen. If you make a claim do not expect a new version of your old phone. Insurance plans will replace your phone with a refurbished equivalent model.
The amount and the type of coverage vary from program to program. Different insurance providers, provide different tiered insurance plans. Most mid-range to high-range phones come under tier 3.
Wireless Phone Protection (WPP) includes all the benefits of the TEC plan except that it does not include phone malfunctioning i.e. it does not cover devise defects. It covers accidental damages, loss and theft. There is also an Extended Warranty Plan – this phone warranty covers malfunction and defects after the first year coverage is finished or in other words it covers the out-of-warranty devise malfunctioning. Total Equipment Coverage (TEC) is a combination of the Extended Warranty and Wireless Phone Protection plan. Hence coverage includes loss, theft, accidental damage and out-of-warranty devise malfunctioning. Total Mobile Protection is the comprehensive protection plan for your mobile. It has additional benefits to that of the Total equipment coverage plan and comes under the top tier of the insurance plan.
Most people feel more comfortable knowing that they are covered. eGranary which provide expert support, is one of the most popular third party insurance provider and it is cheaper than most provider options.