If you make a claim on your cellphone insurance, you might be shocked that the deductible is about the same as what you paid for the phone in the first place, according to NerdWallet.com.
This is because carriers heavily subsidize cellphone prices when you sign a contract You can get a $400 cellphone for just $200. If you break the phone, some insurance plans require a $200 deductible. You will still getting a new phone for half price, but it sure won't feel like it.
Meanwhile, if you do make a claim, the replacement phone the insurer provides you doesn't have to be the same phone as you had before. The insurer tries hard to provide the same phone, but this might require that you get a refurbished phone of the same type.
Consider shopping around for insurance plans. You might get a better deal.
Rick Good spent ten years in the newspaper business, including with The News & Observer (Raleigh, NC) and The Greenville News (Greenville, SC). He co-wrote, with Melinda Coleman, Rutledge to Riley: Governors of South Carolina, 1776–Present (Published by The Greenville News), and is the author of Mind Games Trivia #1 (Amazon). He has recently spent 15 years creating original trivia content through Sounds Good Mobile Entertainment and continues that with his new company, SGME Software. He edits The Smart Reader’s money, real estate, and business coverage.