Is Phone Insurance Worth It?

In today's world, cell phones have become indispensable tools that we utilize for various purposes such as communication, financial transactions, business operations, and staying informed. As we increasingly rely on these devices, we often invest in higher-quality, more expensive models, which may pose a significant financial risk. To safeguard our investment and guarantee access to reliable and functional technology, it is essential to consider cell phone insurance.

‍Is phone insurance worth it? In this article, we will discuss six compelling reasons why you should consider obtaining insurance for your phone.

Accidents And Thefts Are Common

Unfortunately, accidental damage and theft are all too common for smartphones. Accidents can occur in a myriad of inconvenient ways – drops, spills, and cracks, to name a few. Nearly two-thirds of smartphone users have experienced cracked screens, and according to the New York Post, Americans drop their phones at least four times a week.

The statistics for theft are just as bleak, with the FCC reporting that phones are involved in over 40% of theft in major cities. In short, accidents and smartphone thefts are regrettably frequent.

Expensive Repairs And Replacements

Whether dealing with a cracked screen, water damage, or other issues, phone repairs can be expensive and time-consuming. Depending on the phone model and damage severity, repairing a cracked screen may range from $100 to $300 or more.

Water damage is another common problem, leading to corrosion and other costly repairs. Beyond the repair costs, additional expenses such as shipping or rental phones during repair times can inflate the overall expenditure.

Broader Coverage Compared To Warranty

While warranties usually cover mechanical defects and failures for a specific period, phone insurance offers more comprehensive protection. Insurance typically covers accidental damage or theft, allowing you to file a claim for repair or replacement. 

Additionally, insurance covers fire, flood, natural disasters, vandalism, and power surges caused by lightning.

Convenient And Trusted Repairs

The rise of smartphones has led to an influx of repair shops, but not all are reliable. Some may lack the skills or knowledge to correctly diagnose and fix problems, while others might charge exorbitant prices or use low-quality replacement parts. Insurance ensures quick, hassle-free repairs without needing to find a reputable shop or pay out of pocket.

Worldwide Coverage

A phone insurance plan, such as one offered by Oyster, provides worldwide coverage, ensuring protection regardless of location. This is particularly beneficial for frequent travelers who want to safeguard their devices while abroad. An insurance plan covers repair or replacement costs, allowing you to continue enjoying your trip without worrying about phone-related expenses.

Enhanced Peace Of Mind

Phone insurance offers peace of mind, allowing you to enjoy your device without concerns about unexpected costs or repairs. Instead of paying out of pocket for damages or replacements, insurance providers streamline the process by handling claims for you. This can save time and hassle, enabling you to resume using your phone as quickly as possible.

Final Thoughts

Investing in cell phone insurance is a prudent decision that offers numerous benefits. It not only safeguards your valuable investment but also provides comprehensive coverage against accidents, theft, and other unforeseen events. With convenient and trusted repair services, worldwide coverage for select plans, and the added peace of mind that comes with knowing your device is protected, cell phone insurance is an essential consideration for any smartphone user. 

Less hassle, better protection

Join Oyster today to learn how you can be properly protected from the unexpected things in life.

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