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Betsy began her career in international finance and it has since grown into a comprehensive approach to journalism as she's been able to tap into that experience along with her time spent in academia and professional services.
Unexpected cellphone repairs or replacements can leave you on the hook for several hundred dollars, but the right cellphone insurance policy can help make it more affordable. When you purchase a policy from one of the best cellphone insurance providers, you'll pay a monthly or annual premium, typically between $5 and $20 a month, depending on the device and coverage. If the device is damaged, lost, or stolen, you can repair or replace it for a fraction of the market value by paying a deductible.
Many insurance policies offer similar coverage, but it’s important to thoroughly review each provider and policy before making a decision. The best policies are cost-effective, with low deductibles, making it easy to file a claim. Additional factors like bundling discounts, multi-device options, and customer reviews can also be useful when selecting a provider. Read on to determine which provider best fits your needs.
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AKKO’s unique approach to cellphone insurance lets policyholders take advantage of some of the lowest premiums in the industry, making it the best provider for cellphone owners on a budget.
Pros & ConsAKKO was started in 2018, making it relatively new to the scene, but it's garnered attention for consistently affordable cellphone insurance plans. With coverage options starting as low as $5 a month for those who pay annually, AKKO is one of the best providers for anyone on a budget.
One thing that sets AKKO apart from other insurance providers is how it manages claims. Instead of automatically receiving a replacement device, AKKO will give customers cash based on the replacement value of the device minus the deductible. Similarly, if they need to have their phone repaired, AKKO will either send the cash value of the repairs or pay an AKKO partner repair shop directly.
AKKO offers two plans: The Phone Only plan and the Everything Protected plan. Both plans offer basic phone protection, which includes cracked screens, liquid damage, accidental damage (e.g., drops), and theft and vandalism.
AKKO’s Everything Protected plan extends coverage to up to 25 other electrical items, including any tablets, laptops, and video games that belong to the policyholder.
Plans & Pricing
AKKO’s Phone Only plan starts at $6 to $12 per month, or $5 to $11 a month if the customer pays for the entire year upfront. The Everything Protected option costs $14 per month for students and $15 per month for adults, discounted by $1 per month when the customer pays for the entire year upfront.
For both plans, deductibles vary based on the make, model, and year of your phone. Repair deductibles typically range from $29 to $75, and replacement deductibles range from $75 to $99. Under the Everything Protected plan, adults pay a $99 deductible for repairs or replacements for their other covered electronics, while students pay $49.
Though customers can’t insure more than one cellphone per plan, they can save 5% to 15% when they bundle more than one policy.
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SquareTrade’s affordable rates, multi-device policies, and higher annual claim allowances make this provider the best option for families.
Pros & ConsSquareTrade is backed by Allstate and is marketed as one of the most affordable cellphone insurance plans available. It offers low-cost, multi-device plans with more claim allowances than many other insurance providers. Combined, these factors make SquareTrade our choice for cellphone insurance that can cover the whole family.
SquareTrade insurance covers all cellphone makes and models regardless of carrier or age. Plans cover cracked screens, touchscreen failures, liquid damage, speak/audio failure, battery failure, and charging port failure.
Coverage includes on-premise (e.g., in the home, office, a coffee shop, etc.), same-day repairs, and repairs made at a local repair shop. Or, if preferred, the client can also mail in the phone for repairs, a process that typically takes two to five days.
While many cellphone insurance providers limit annual claims to two per plan, SquareTrade allows for up to four claims per year per individual device plan. Family plans allow for up to eight claims per year, which can be particularly helpful for families with multiple devices, both cellular and otherwise.
Plans & Pricing
SquareTrade premiums start at $8.99 a month for a single device, but customers can insure multiple devices for just $19.99 a month. Deductibles are a flat $149.
SquareTrade also offers an upgrade ($12.99 per month) that adds additional benefits like premium tech support, Allstate Roadside Assistance, and identity theft recovery.
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AppleCare+ provides affordable coverage that is specific to iPhone and other Apple devices, making it the best option for iPhone users.
Pros & ConsA new iPhone can easily cost close to $1,000, which can make insurance a smart investment. While most cellphone insurance providers will happily cover iPhones, customers looking for the best insurance may want to go straight to the source. AppleCare+ makes it easy to protect a phone and get ongoing support from experts who understand the hardware, operating system, and applications that make Apple products unique. That’s why we’ve selected AppleCare+ as the best option for iPhone users.
AppleCare offers two different policies: AppleCare+ and AppleCare+ with Theft and Loss. Both cover unlimited incidents of accidental damage protection annually and offer coverage if a battery retains 80% or less of its original charging capacity. AppleCare+ with Theft and Loss covers two incidents of theft or loss every 12 months.
An AppleCare+ account also gives 24/7 priority access to Apple experts via phone or chat, onsite services (e.g., screen repairs), express replacement services, and mail-in repair options with prepaid shipping. AppleCare+ customers can also take their device to any Apple Store or Apple Authorized service provider for in-person repairs and troubleshooting.
For customers considering AppleCare+, it’s best to add the policy within 60 days of purchasing the iPhone. If that window has closed, a visit to an Apple Store may be required to add a policy.
Plans & Pricing
Prices vary based on the iPhone model the customer wishes to insure. AppleCare+ insurance ranges $3.99 to $9.99 per month, or $79 to $199 for a fixed term of two years. AppleCare+ with Theft and Loss will run about $7.49 to $13.49 per month or $149 to $269 for a fixed term of two years.
Deductibles vary based on the incident type. The deductible for screen repairs is $29, while other types of damage typically result in a $99 deductible. If the phone is lost or stolen, expect a $149 deductible.
