Are you continually concerned about dropping or losing your phone? Maybe you already pay for Mobile Phone Insurance out of pocket each month, which provides you some piece of mind. However, you may be spending money on something that your credit card would provide for free. here how to get the Mobile Phone Insurance for free and other things involved.
Many credit cards offer free Mobile Phone Insurance (and what it covers)
Many credit cards provide free mobile phone insurance if you pay your cell phone payment with that card. This isn’t simply a bonus available with premium credit cards; it’s also available with cards with free or low annual fees. This coverage may assist you in paying for specific repairs (damaged screens are frequently excluded) or if your phone is stolen.
The specifics will change depending on the card you have, so see your card’s benefits guide for confirmation, but as a general guideline, you’ll:
- Need to pay your monthly cell phone bill in full with the credit card that offers cell phone protection.
- Be limited to two claims (and a maximum of $600 to $800 per claim) and a maximum of $1,200 to $1,600 in total claims per 12-month period.
- Be subject to a $25 or $50 dedcutible.
- Need to file a claim to recover an expenses, typically within 60 days of the incident. Theft claims also typically require a police report to be filed within 48 hours of the theft.
Mobile phone insurance provided by a credit card, in general, will not cover the loss or “strange disappearance” of a cell phone. If you’re forgetful and afraid about losing your phone, you should look into additional mobile phone insurance choices that cover loss as well as damage and theft.
Credit cards that offer cell phone protection
A lot of credit cards offer cell phone protection, but these are some of our top picks.
Premium Cards with Cell Phone Protection ($350+ Annual Fees)
- Capital One Venture X: $50 deductible. Up to $800 per claim/$1,600 a year. Annual fee: $395
- Platinum Card from American Express: $50 deductible. Up to $800 per claim/$1,600 a year (this card’s cell phone protection covers screen damage, which not all plans do). Annual fee: $695
Mid-Tier Credit Cards with Cell Phone Protection (<$100 Annual Fees)
- Chase Ink Business Preferred: $100 deductible. Up to $600 per claim/$1,800 a year. Annual fee: $95
No Annual Fee Credit Cards with Cell Phone Protection
- Wells Fargo Active Cash: $25 deductible. Up to $600 per claim/$1,200 a year.
Many credit cards, particularly those with no annual cost, include cell phone insurance as a nice built-in advantage. If you pay extra for mobile phone insurance or don’t have it yet, consider obtaining one of these cards to safeguard your phone against damage or theft at no extra cost.