Best Credit Cards with Cellphone Insurance

Are you looking for credit cards with cellphone insurance? If Yes, You are at the right place.

In this article, we are sharing all the information about credit cards with cell phone insurance.

Today’s best credit cards offer additional benefits for protecting purchases and reimbursed travel, but cellphone insurance is an overlooked credit card perk many issuers need to promote more effectively.

Despite not being a perk worth focusing on in your credit card decision, cellphone insurance can give you extra peace of mind if you’re on the fence. Your wireless carrier usually charges you around $10 to $15 monthly for cellphone protection, but you may get better coverage from your credit card because of these savings.

What Is Cellphone Insurance?

Mobile phone theft and damage insurance usually cover theft, loss, defects, and damage to a mobile device. Major wireless providers like Verizon and AT&T typically offer insurance policies through large insurance companies like Asurion.

There are also insurance policies from manufacturers such as Apple and Samsung that iPhone or Samsung users can purchase. Insurance policies from manufacturers or carriers usually allow you to activate your policy within a few days of activating or upgrading your device.

When looking solely outside your credit card’s benefits coverage, compare cellphone insurance policies to find one that suits your needs. If you’re buying a new device insurance policy, consider the number of devices needing coverage, the deductible cost, and any discounts that may be available. It is not uncommon for credit cards to offer varying plans within their coverage.

How Does Cellphone Protection Work?

Taking out insurance for your cellphone is similar to taking out insurance for your car or your house. An insurance provider must be notified if the policyholder’s phone has been lost, stolen, or damaged. There is usually a deductible associated with each claim a cardholder makes. Phones that have been repaired or replaced usually have a lower deductible than their retail value.

If you want to file a claim, you will need to know your phone model and make, as well as your phone carrier, and have your deductible payment card ready. Depending on your card issuer, you can fix or replace a phone by filing a claim online and paying any necessary deductibles. 

Payment networks like Mastercard may require you to file a claim with them directly rather than with the card issuer if you’re protected through that network. You can learn more about the claims process by calling the number on the back of your card.

Top 5 Credit Cards with Cellphone Insurance

Here are the Top 5 Credit Cards with Cellphone Insurance –

Chase Freedom Flex

Chase Freedom FlexSM is an excellent cash-back credit card for consumers looking to save on everyday purchases. There is no annual fee, and a generous cash-back program is offered, as well as a generous welcome bonus, which is industry-leading.

Chase Freedom Flex is an eligible World Elite Mastercard that automatically covers your cell phone up to $800 per claim and $1,000 per year when you use it to pay your cell phone bill. The maximum number of claims per 12-month period is two, each with a $50 deductible.

Wells Fargo Autograph Card

The Wells Fargo AutographSM Card also offers no annual fee and travel rewards. The card offers a substantial welcome bonus for new cardholders, making it easy to earn rewards with broad spending categories like travel and transit.

You will be entitled to up to $600 in coverage for your cell phone, protecting it against damage or theft as long as you use this card. The deductible is only $25. The maximum number of claims you can make within a 12-month period is two.

Platinum Card from American Express

 The Platinum Card from American Express may be a good option if you frequently drop your phone. Screen damage is one of the few benefits covered by this card, whereas most competitors do not. You can also get coverage against theft and damage if you have Amex’s cell phone protection plan.

To be eligible for coverage, you must list your cell phone line on a wireless bill and pay the previous month’s wireless bill with an eligible credit card. The maximum reimbursement per claim is $800 or $1,600 per 12-month period for two approved claims. Each approved claim is subject to a $50 deductible.

Capital One Venture X Rewards Credit Card

Capital One Venture X Rewards Credit Card is a great travel rewards credit card for earning transferable rewards that you can use toward flights, hotels, rental cars, and other travel activities. It also offers an above-average 2X miles per dollar spent on everyday purchases, such as cell phone bills, a large welcome bonus, and a high return on Capital One Travel bookings.

When you pay your cell phone bill with this card, you will be entitled to up to $800 in coverage per approved claim – equal to the full retail value of your phone, whichever is less. There is a $50 deductible for each claim within a rolling 12-month.

Ink Business Preferred Credit Card

 The Ink Business Preferred Credit Card offers a wide range of rewards on common business expenses, such as phone services, a generous welcome bonus, and enhanced protections. In addition to the cell phone insurance, cardholders are covered by extended warranty coverage, primary car rental coverage, and trip cancellation/trip interruption insurance.

Your Ink Business Preferred card covers up to $1,000 per claim against covered theft or damage to your cell phone and the mobile phones of your employees listed on your monthly cell phone bill. Each claim is subject to a $100 deductible and can be made three times in a 12-month period.

What To Know About Credit Cards with Cellphone Insurance

A card issuer may offer cellphone insurance to encourage customers to make recurring monthly charges with their cards. When using your credit card, you might need more coverage if you’re accident-prone, have multiple phones on your family plan, or have the latest, greatest flagship phones.

Before you purchase a cellphone insurance policy with your credit card provider, consider the following factors:

• Read the fine print. It is possible to have a limit on the coverage provided by mobile phone insurance plans on credit cards. It is important to note that terms and conditions differ between credit cards. Still, you can expect a deductible, a maximum reimbursement amount, and a limit on the number of claims submitted annually.
•  Be ready to pay a deductible. A claim with most insurance plans requires lots of documentation, including paying a deductible before savings kick in. If your device is stolen, file a police report and save the receipt from the purchase of your device. You can get a repair estimate or file a police report. If you have a policy that covers up to $800 per claim and $1,600 per year after any deductibles (usually $25 or $50 per occurrence), the effort is worth it.
•  Pay every monthly cellphone bill with that credit card. If you pay your monthly cellphone bill with an eligible credit card, you will receive a similar policy if you bought it directly from your carrier. You should pay with your credit card, as you may only qualify if you do.
•  Consider dropping those insurance payments to your cellphone carrier. It is usually only necessary to have up to one policy for cellphone insurance. A credit card offering cellphone insurance is an added benefit, but you should choose the policy with the most value for your money.

What Do Cellphone Insurance Plans Cover?

There are a variety of insurance policies available for cell phones. Insurance plans may include protection against theft, loss, damage, or defects. There is no clear definition of “damage” across all providers. Some insurance policies cover cracked screens, while others only cover hardware issues.

There are differences in the benefits offered by different credit card issuers and payment networks (e.g., Visa and Mastercard). There may even be separate cellphone insurance benefits from the same issuer for different credit cards. It’s only possible to determine what’s covered by reading the terms of your agreement with the card issuer or payment network. Consider how many claims can be filed per year, what kind of damage is covered, whether the loss of a cellphone is covered (not just theft), and what the deductible is.

How Do I Know If My Card Has Cellphone Protection?

You can check your credit card agreement or call the number on the back of your card to see if your card offers cellphone insurance. The Mastercard network offers phone insurance to anyone holding a particular type of Mastercard, no matter what card issuer they are associated with. Therefore, you must read Mastercard’s terms rather than the card issuer’s.

Finding information about cellphone coverage in the fine print can be challenging as this small but powerful benefit is buried deep in the fine print. For more information about the benefits and limitations of your credit card’s cellphone insurance, call the number on the back of your card and ask a representative.

FAQs

Is It Worth It to Have Cell Phone Insurance?

The answer is yes, especially when it’s cell phone insurance purchased with a credit card. Cell phone insurance is another topic for discussion, but if you have a credit card that offers cellular insurance and you only have to use your credit card to pay your monthly bills, then it’s a no-brainer. A cell phone insurance policy makes a lot of sense in that case.

Who’s Covered by Credit Card Cell Phone Protection?

The cell phone protection cover typically includes the primary phone line and any additional lines on the same plan as long as you pay with an eligible card.

What is Secondary Cell Phone Coverage from a Credit Card?

You’ll only receive your benefit if your cell phone coverage on your credit card is categorized as “secondary.”.

For instance, when you have coverage through your wireless carrier, you are expected to make a claim there first, then use your credit card’s coverage for the remainder. Secondary coverage requires you to file a claim under your homeowner’s or renter’s insurance before filing a claim under secondary coverage.