How can I insure my devices?

Editorial team Published on

You can insure your electronic devices through Progressive Electronics Insurance, carrier plans like AT&T Device Protection, or retailer and third-party providers.

📊 Common Ways to Insure Devices

  • 📱 Carrier Plans
    • Providers: AT&T, Verizon, T-Mobile
    • Covers: Loss, theft, damage
    • Best for: Smartphones and cellular tablets
  • 🛒 Manufacturer & Retailer Warranties
    • Providers: AppleCare+, Best Buy
    • Covers: Accidental damage, hardware failures
    • Best for: Brand-new laptops, phones, and gear
  • 🛡️ Standalone Third-Party Insurers
    • Providers: Progressive (via Worth Ave. Group), Allstate/SquareTrade, Farmers
    • Covers: Drops, spills, natural disasters, theft
    • Best for: Bundling multiple household gadgets
  • 💳 Credit Card Perks
    • Providers: Major credit card issuers
    • Covers: Extended manufacturer warranties
    • Best for: Free zero-cost warranty extensions on purchased items

What is the best way to insure your phone?

The best way to insure your mobile phone depends on whether you value low-cost theft-and-loss coverage, manufacturer repair speed, or zero-dollar credit card perks.

✅ Manufacturer Plans (Best for New Phones)

  • Examples: AppleCare+ or Samsung Care+
  • Cost: ~$7 to $15 monthly or $149–$269 upfront.
  • Pros: Fast repairs using genuine parts at official stores; low deductibles ($29 for screens).
  • Cons: Must enroll within 60 days of purchase; theft/loss requires a higher-tier plan.

📊 Credit Card Protection (Best for Free Coverage)

  • Examples: Select Chase, American Express, or Wells Fargo cards.
  • Cost: $0 extra (must pay your monthly wireless bill with the card).
  • Pros: Covers theft and damage up to $800–$1,000 per claim.
  • Cons: Does not cover lost/misplaced phones; secondary to other insurance.

💡 Third-Party Insurers (Best for Used or Multiple Devices)

  • Examples: Akko, Upsie, or Worth Ave Group.
  • Cost: ~$4 to $12 monthly.
  • Pros: Insures secondhand or older phones bought outside a contract.
  • Cons: Claims processes can take longer than carrier or manufacturer options.

📌 Carrier Bundles (Best for Instant Replacements)

  • Examples: Asurion via Verizon/AT&T or Protection360 via T-Mobile.
  • Cost: ~$12 to $25 monthly.
  • Pros: Convenient add-on; covers loss, theft, and damage with fast replacement.
  • Cons: Higher monthly fees and steep deductibles for flagship models.

How much is device insurance?

Device insurance typically costs between $5 and $20 per month (or $60 to $240 per year) for standard to flagship electronic devices.

The exact price varies significantly based on the market value of your device, the level of protection you choose, and the provider.

Average Monthly Costs by Tier

  • Budget Devices: $5 – $10 per month (Basic coverage or low-end smartphones).
  • Flagship Devices: $10 – $20 per month (Latest iPhone or Samsung Galaxy models).
  • Laptops & Tablets: $10 – $25+ per month (Dependent on specific tech specs and overall replacement cost).

Key Cost Factors to Consider

  • Deductibles / Excess Fees: Aside from the monthly premium, you must pay an out-of-pocket fee when filing a claim. These typically range from $29 for simple screen repairs to $250+ for a full device replacement.
  • Coverage Tier: "Accidental Damage Only" plans (covering drops and spills) are cheaper than "Comprehensive Protection" plans that include theft, loss, and hardware malfunction.
  • Provider: Buying insurance directly through an electronic manufacturer (like AppleCare) or a mobile carrier usually costs more than finding third-party independent insurers. Some premium credit cards even offer complementary protection if you pay your monthly service bill with them.

What is the best type of insurance for devices?

The best type of insurance for electronic devices is dedicated gadget insurance if you take your tech outside the home, or an extended home contents policy if you only need coverage indoors.

Choosing the Right Policy

  • Standalone Gadget Insurance: Best for comprehensive protection. It covers loss, theft, and accidental damage (like cracked screens or liquid spills) both at home and while you are out and about. Providers like Protect Your Bubble offer specialized standalone options.
  • Home Contents Insurance (with Add-ons): Best if you want to bundle your tech with your household belongings. Standard contents insurance only covers items inside your house, but you can add "away from home" and accidental damage extensions to cover devices everywhere.
  • Packaged Bank Accounts: Some premium bank accounts include mobile phone or gadget coverage as part of a monthly fee, which is a good choice if you already use the bank's other perks.

What to Look For

  • Coverage Type: Ensure it includes accidental damage, liquid damage, and theft. Loss coverage is often an optional add-on.
  • Geographic Limits: Check if the policy offers worldwide cover if you travel abroad with your devices.
  • Claim Limits: Look at how many replacement claims you can make per year and the time limit for reporting a lost or stolen device (often 24 hours).

How much does phone insurance cost?

Phone insurance typically costs between $7 and $19 per month (or roughly $85 to $230 annually), depending on your provider, the value of your phone, and the tier of coverage you choose.

Beyond the monthly premium, you must also factor in a deductible (or service fee) of $29 to $275 every time you make a claim for a repair or full device replacement.

Typical Costs by Provider Type

How much you pay depends largely on whether you secure protection directly from the manufacturer, your wireless carrier, or a third-party company.

  • Device Manufacturers: Plans like AppleCare+ or Samsung Care+ average $8 to $15 per month. They generally offer the lowest deductibles for screen repairs (around $29), but adding loss and theft protection will bump up your monthly cost.
  • Wireless Carriers: Major network carriers (such as AT&T Protect Advantage and Verizon Mobile Protect) generally charge premium rates of $18 to $19 per month for single flagship devices. While expensive, they often bundle tech support and provide fast, sometimes same-day replacements.
  • Third-Party Insurers: Companies like SquareTrade or AKKO usually charge fixed rates between $7 and $15 per month. They are often more cost-effective if you want to insure older, refurbished, or multiple family devices under one umbrella.

Hidden Fees: The Deductible Cost Breakdown

Paying a monthly fee does not make repairs free. When you file a claim, you are responsible for a service fee based on the severity of the issue:

Type of ClaimAverage Deductible Out-of-Pocket
Cracked Screen Repair$0 – $29
Accidental / Liquid Damage$99
Theft or Complete Loss$149 – $275

Is Phone Insurance Worth the Cost?

Before purchasing a standalone policy, check your existing resources. Many premium credit cards offer complimentary cell phone protection if you pay your monthly wireless bill with that card. Additionally, some renters or homeowners insurance policies allow you to add your electronics for a very small nominal fee.

Standalone insurance is highly recommended if you bought a flagship phone over $1,000, have a history of accidental drops, or lack the emergency cash to immediately pay a $300 to $400 out-of-pocket repair bill.

Tech Insurance and How You Can Protect Your Devices

9 related questions found

Is it worth paying for phone insurance?

Phone insurance is worth paying for if you own an expensive smartphone, are prone to dropping devices, or cannot afford an unexpected $300 to $400 repair bill. It is usually not worth the cost if you use a budget phone, take good care of your devices with a strong case, or have enough savings to pay for a repair out of pocket.

When Phone Insurance Is Worth It

  • High-end devices: Replacing a flagship phone can cost over $1,000 if it is lost or stolen.
  • Budget protection: Many users on Reddit r/personalfinance note that if a sudden $300 repair would ruin your monthly budget, the predictable monthly fee provides financial peace of mind.
  • High-risk lifestyles: Insurance makes sense if you work around heavy machinery, exercise outdoors, or let young children use your device.
  • Free alternatives: Check your wallet first; some credit cards provide complimentary cell phone protection if you pay your monthly bill with them.

When Phone Insurance Is Not Worth It

  • Older or budget phones: If your phone is cheap to replace or buy refurbished, the monthly premiums will cost more than the phone is worth over time.
  • Good preventive gear: Using a heavy-duty protective case and a screen protector prevents the vast majority of common drop damage.
  • Self-insuring: If you set aside the equivalent of the monthly insurance fee into a personal savings account, you can pay for your own repairs and keep the cash if nothing breaks.

Can I insure my phone at any time?

No, you cannot always get phone insurance anytime, as eligibility depends heavily on the provider and when you bought your device.

Carrier and Traditional Plans (Strict Deadlines)

  • Mobile Carriers: Major carriers like AT&T Device Protection and Verizon typically require you to enroll within 30 days of purchasing, upgrading, or activating your device.
  • Open Enrollment: Carriers occasionally hold special open enrollment periods twice a year where you can add insurance to older devices, but these are limited. On a Reddit discussion thread, opinions are mixed, but users strongly warn that adding coverage outside the initial 30-day window or open enrollment can lead to denied claims if caught.

Standalone and Third-Party Plans (Anytime Options)

  • Anytime Providers: Third-party insurers like SquareTrade / Allstate Protection Plans or Worth Ave. Group allow you to insure a working, undamaged phone at any time, regardless of when or where you bought it.
  • Condition Checks: Some anytime providers require a remote device inspection or a proof of working condition before activating coverage on older or used phones.

How does mobile device insurance work?

Phone insurance works like any other insurance policy: you pay a small monthly fee for coverage, and if your phone is damaged, lost, or stolen, the provider helps pay to repair or replace it.

The Core Steps

  • Monthly Premium: You pay a recurring fee (usually $3 to $20 per month) based on the value and model of your phone.
  • The Incident: If your phone gets dropped in water, shattered, lost, or stolen, you file a claim with your provider.
  • The Deductible: When your claim is approved, you pay a one-time service fee—known as a deductible—which ranges from $0 to over $150 depending on the damage type and your specific plan.
  • Repair or Replacement: The provider fixes your screen, sends you a refurbished replacement phone, or gives you a new device, often by the next day.

What is Covered vs. Not Covered

  • Covered: Accidental drops, cracked screens, liquid spills, mechanical breakdowns after the warranty ends, and—depending on the plan—loss and theft.
  • Not Covered: Normal wear and tear, cosmetic scratches that do not affect how the phone works, or intentional damage.
  • vs. Manufacturer Warranty: A standard warranty is free for the first year, but it only covers factory hardware defects—it will not pay for accidental drops or a stolen phone.

Where to Get It

How much is device insurance with T-mobile?

T-Mobile phone insurance, known as Protection 360, costs between $7 and $25 per month per device, depending on the make, model, and tier of your phone. Many high-end smartphones typically fall around $18 per month.

Monthly Costs and Deductibles

  • Monthly Premium: $7 to $25 per month based on your device's assigned tier.
  • Screen Repairs: $0 for front screen repairs (and $29 or similar for select damages depending on the exact tier/claim type).
  • Loss or Theft Deductibles: Range from $10 to $249, depending on the market value of the phone.
  • Claim Limits: Up to 5 accidental damage, loss, or theft claims per rolling 12-month period. There is generally no limit on mechanical breakdown claims.

What Protection 360 Includes

  • Loss, theft, and accidental damage coverage.
  • Post-warranty mechanical and electrical failure protection.
  • Unlimited screen protector replacements.
  • McAfee Security with ID Theft Protection.
  • 24/7 live technical support.
  • JUMP! early device upgrades after paying off 50% of your qualifying device cost.

Note: You must enroll within 30 days of purchasing or upgrading your device.

How do I insure my iPhone?

You can insure your iPhone through dedicated programs like Apple Device Insurance by iStore, your mobile network provider (such as MTN or Vodacom), or a standalone short-term insurer.

Steps to Insure Your iPhone

  • Gather your device details: Find your iPhone's serial number and unique IMEI number (dial *#06# on your phone to find the IMEI).
  • Have proof of purchase ready: Keep your original receipt, invoice, or cellular contract agreement handy.
  • Check time limits: Many network providers and specialized insurers require you to sign up within 7 to 30 (sometimes 60) days of buying or upgrading your device.
  • Choose a provider: Select coverage via a retailer program, network operator, or add it as an "all-risk" or portable possession item on your existing personal insurance policy.
  • Submit required documents: Provide your ID, banking details for debit orders, and the completed application form to activate your policy.