Is It Worth The Cost Of Buying A Cell Phone Insurance?

Nowadays, smartphone usage has become ubiquitous, thanks to the many innovative technological developments in mobile phones. It is almost unthinkable to leave the house without the mobile that is widely used to check email, look up reviews for a restaurant, or play a quick game on the device.

However, the price tag of a smartphone is quite higher due to the presence of an impressive range of functionalities. The unfortunate thing to happen is losing your phone. It could slip out of your hand and onto the ground, fall into the toilet, or mistakenly get left behind somewhere, never to be found again. Ordinarily, you are on the look out to buy another phone for yourself, and that could cost you a few hundred dollars.

A common alternative to the high cost of getting a replacement is to sign up for cell phone insurance at the time of buying your new phone. As required by your carrier, you pay approximately $7 a month, and you get a replacement of your phone, in the event of losing it.

Why Cell Phone Insurance Is Not Worth Buying

Anyone can figure out that the $7 per month paid for insurance quickly totals to an amount of $168 over the course of your contract that you may never use. However, when you get your phone replaced, you are also to pay a deductible that could be anywhere between $50 and $200, and even then there is no guarantee of getting a newer phone as replacement. So you have paid insurance for two years and your deductible for a device that might not be similar in quality to the one when you first bought it. However, a good number of better and economical alternatives exist for you to consider.
By Michael Garcia