With the abundance of insurance providers providing a wide variety of cell phone insurance, there is a good chance you might make the mistake of buying a policy that doesn’t suit your needs and requirements. That’s because the immense range of options will only serve to confuse you, and you won’t ask the questions, whose answers will give you a better idea of whether a particular policy is right for you or not.
Let’s take a look at three questions that you must ask an insurance company before getting your phone insured from them.
1. Is my phone eligible for insurance?
There are some companies that don’t offer insurance to phones over six months old and there are others who offer cover to older phones as well. So, this is the first question that you must ask an insurance provider. In case the provider offers cover to older phones, the policy cover might be different and might even be priced differently. So get an idea of the
2. In case I lose my phone or it’s stolen, will I get a new phone or a refurbished phone?
Usually it is the latter and very few cell phone insurance companies will actually replace your stolen or lost phone with a brand new phone. Your phone is definitely replaced but usually by a reconditioned phone. At times, it’s not even the same model as your lost phone, but an “equivalent” model. This usually happens when the insurer doesn’t have your phone model in stock and there is some other model that it believes is a perfect alternative for your lost phone.
At times, you might even be given a cash equivalent for your phone. This is why it’s important to ask this question. If this particular aspect is not cleared up, you might think you are getting a brand new phone from your insurance provider and will be shocked when you receive a refurbished phone.
3. How much do I have to pay extra?
There are some people who have this wrong belief that if they have insured their phone, then they do not have to pay anything to get their phone repaired or for getting their phone replaced. Well, here’s news for them – they will have to pay an extra amount over and above their monthly premium to repair their phone or in case they want a new phone in place of the phone that was stolen or which they lost.
In cell phone insurance, the excess amount you pay is called a deductible and its amount differs across policies. This is how it works; say the repairing cost of your phone is $100 and your deductible is $25, then you will have to shell out the deductible and the insurance company will pay the rest of the amount.
So find out what your deductible is, before signing on the dotted line.
Asking these questions will help you make the right decision regarding the insurance cover you want to buy. Making an informed decision is an absolute must when you buy any kind of insurance cover, so ask all the questions you want and clarify all your doubts before buying the cover.