How Smartphone Insurance Can Keep You Out of Trouble

April 21, 2016

Smartphones have become a necessity these days. Purchasing a smartphone for more $600 and locking yourself into a contract can be an expensive investment. Taking into account its value, the frequency at which we use it and how fragile it is – damaging or losing the smartphone can prove to be costly as well as stressful. Thus insurance is an easy option of protecting your device against any of the unfortunate events.

Most mobile phones come with a one year warranty i.e. it provides coverage for one year. The Extended Warranty gives the customer an added layer of protection even after the expiry of the first year of warranty. A nominal premium for an extended warranty is highly recommended as it covers the high cost of smartphone repairs. The big carriers like Verizon, AT&T, Sprint and T-Mobile, also offer phone insurance. All the big carriers offer basically the same insurance under different names. Signing up for insurance or keeping oneself out of trouble is to protect against the things that are not covered by manufacturer’s warranty. Primarily insurance covers the accidental damages like cracks, drops, liquid spills and submersions, damage caused by accidents, mechanical and electrical failures, loss or theft of the mobile.

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There are two main costs to insurance which one needs to figure out. The Insurance Premium paid monthly for a full 24 month contract, but one needs to check the carrier details. Secondly the Deductible Cost which varies but for a high end smartphone it might cost around $200. If the sum total of both these costs is less than the cost of a replacement phone, then insurance is worth it.

One must make sure to read the terms and conditions of the insurance service provider. If your device has issues during the first year, consider yourself lucky as the repair is likely to be covered. But if it craps out into your thirteenth month then you may be screwed. One does not exactly have the money to drop on a new phone right away.

Insurance through Third Party Provider like eGranary have some key differences though they are basically similar. The good thing about insuring with outside companies is that – after purchasing the device you can sign up for the insurance any time as long as it is functional with no prior damage or defects. Another advantage is that some of them offer a cash reimbursement option for your damaged phone instead of either repair or replacement. In addition these third party policies also cover the incidental issues like touchscreen failures, issues with wireless connection or antenna and display failures. But most carrier insurers will either repair or replace your smartphone and you will not get a new phone instead get a ‘refurbished’ one.

Taking care of the smartphone battery can evade you from several of the smartphone troubles. To extend battery life of your smartphones, close any unused applications if you are not using it. Turn off the location based services when you do not need them. These things eat up lot of battery when you are not using them. Reducing the brightness of screen will use less power. Also turn off vibrate option on your smartphone as it consumes more power compared to the ringer. Lastly turn off the mobile when you are not using it. These small tips can help you keep out of troubles related to your smartphones.

Insurance is an optional additional purchase but it’s presence gives you peace of mind against any of the mishaps that might occur anytime anywhere!