Should you get cell phone insurance?

Depending on your carrier, you can sign up for a cell phone insurance. But should you get cell phone insurance?

By Nilakshi Pathak

| Updated: Wednesday, February 14, 2018, 21:53 [IST]

Is it even possible to step out of the house without a smartphone? Talk about any help that you need; whether you want to have a look at the direction or want to give yourself a treat, your smartphone can help you in every step. Life without a cell phone is hard to imagine.

Phones today have gradually evolved to have powerful functionalities. With the increase in functionality, the price tag has also increased. Once, the phone is in your hand; it becomes your responsibility to keep it safe. But again accidents happen just like that, don’t they? How have you planned to bear the loss of your damage or lost smartphone? Well, you can go for cell phone insurance.

Depending on your carrier, you can sign up for a cell phone insurance. But should you get cell phone insurance?

Why Is Cell Phone Insurance A Bad Idea?

If you are good at basic math, you will end up realizing that during the time of the contract of the cell phone insurance, you pay a massive amount for a service that you never use.

Life is full of uncertainties, and yeah, you might lose or damage your phone, but cell phone insurance will make things any better? When you need to buy a new phone, you will have to pay for deductible and even after that the company doesn't guarantee that you will get the same phone or a better version of it.

What can you do if you lose or damage your phone?

If you lose or damage your phone, you can always go for a refurbished smartphone. It will cost you less and will perform well. The only catch goes for a refurbished smartphone that comes with a warranty. Another alternative is that you pay yourself the monthly insurance. You can use it as an emergency fund when you need to buy a new phone.

Final Words

Having a cell phone insurance doesn't mean that you can replace your old phone or buy a new phone without spending money. You will lose money, but you might get a bit of support if you have cell phone insurance. When getting a cell phone ensure, check the terms and conditions well to get the maximum benefit.