Our smartphones are more than just phones now they’re our cameras, wallets, work devices, and entertainment systems. But with devices now priced at $1,000 or higher, you have to wonder: Should you insure your phone?
Let’s examine what handset insurance protects, how much it costs, and if it’s actually worth it.
What Is Handset Insurance?
Handset insurance (or mobile phone insurance) is a cover that keeps your smartphone safe from sudden damage, loss, or theft. If something goes wrong with your phone, you can make a claim and either have it repaired or replaced usually for a small fraction of the full price.
✅ What Does It Cover?
What is covered can differ between providers, but most handset insurance policies cover:
Accidental damage (such as cracked screens or spillage)
Theft or loss
Mechanical failures after your warranty runs out
attery or charging problems
Some high-end plans also include international use, so you’re covered even when abroad.
❌ What’s Not Covered?
There are several things that generally aren’t included:
Cosmetic damage (scratches, dents) that doesn’t impact performance
Lost phone with no police report or documentation
Unauthorized changes (such as jailbreaking/rooting)
Multiple claims within a limited timeframe (some plans have yearly limits on claims)
Always read the small print so you know what youre getting into.
How Much Does It Cost
Handset insurance typically includes:
A monthly charge Typically $7–$15/month depending on the value of the phone
A deductible You’ll still have to pay a small amount (usually $50–$250) when you make a claim
For instance, getting an iPhone 15 stolen and replaced without insurance can cost $1,000 but with insurance you’ll pay perhaps just $150.
Where Can You Get It
You have some choices
From your carrier (AT&T, Verizon, T-Mobile)
Directly from the phone manufacturer (AppleCare+, Samsung Care)
Third party insurance (such as Asurion, Akko, or SquareTrade)
From your credit card (some cards have phone protection if you pay your bill with them)
Is It Worth It?
It depends on your behavior and your phone:
Yes, it’s worth it if.
You have a costly phone
You’re prone to accidents
You use your phone for work
You fly a lot
Perhaps not worth it if.
You have a cheap phone
You’re super cautious and hardly ever drop it
You prefer saving the monthly fee and taking a risk
Smart Tip
If you don’t want to buy insurance, think about saving the same amount in a “tech repair” savings account then, you’re still covered if anything goes wrong.
Last Thoughts
Handset insurance provides peace of mind, particularly for expensive phones or accident-prone fingers. Just ensure the cost and coverage are suitable for your lifestyle. If you opt for insurance or a self funded repair kitty, always have a fall back plan.
