When purchasing phones that cost more than $1,000, many people make this major error
Investing more than $1,000 on a high-end smartphone is a big commitment that few people think to cover with full insurance. Is it wise to get comprehensive insurance for your device when dealing with possible unanticipated events like theft, loss, or accidental damage? We examine the choices provided by popular online retailers such as Amazon and the operation of these insurance plans.
Imagine spending more than $1,000 on a cell phone, only to have it stolen or irreparably damaged in a week. You could pull your hair out in these situations, but it would be too late. Although insurance is an extra expense, it will shield your hair from such a situation.
The coverage and expenses of mobile phone insurance
A range of incidents are usually covered by mobile phone insurance, including:
Accidental damage can include broken screens, shocks, or drops.
Water spills or even unintentional falls into water can cause liquid damage.
Theft: Theft of a device through coercion or threats.
The monthly or annual premium that you pay may vary greatly depending on the insurance and the options that are available. As a result, it is advised to consider every option. The device must be bought from the same platform in order to take advantage of some of them.
Options for insurance at websites such as Amazon
We estimated the approximate cost of insurance by assuming that we paid approximately $1,450 for a Samsung Galaxy S25 Ultra. Naturally, the cost of insurance will be lower if the phone is less expensive.
Amazon directly offers you up to three different kinds of insurance when you buy a mobile phone. Despite their wide range, they are typically as follows:
One year's worth of insurance that covers $108.79 in unintentional damages.
- $130.49 for a year of insurance against theft and unintentional damage.
- $190.39 for two years of accidental damage insurance
Since not all insurance policies are the same and there are frequently minor variations in the amount covered, it is crucial to read all of the fine print included in these policies. Additionally, they frequently alter based on the partner company using the platforms.
Let us get back to our main question: are we willing to pay that much for a cell phone that costs about $1,450 now that we know how much cell phone insurance costs? The response is in the affirmative. It is true that your insurance premium may increase by $200 to $350 over the course of two years. However, remember that the phone costs $1,450, so you are safeguarding that investment for a minimum of two years. It is true that it will not be worth it after that time because you can probably find the phone on other deals for a much lower price.