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Should You Insure Your Cell Phone?

By May 3, 2017May 17th, 2022No Comments

Your smartphone probably cost you a lot of money, especially if you paid full price for it. If you’ve had phones before, you also know that they can be fragile. One bad drop and that could be all she wrote for your phone. You may be wondering whether or not you should insure your phone.

So, should you insure your cell phone? Is phone insurance worth it for you? For anyone? As with any insurance policy, you need to look at cost vs. benefit. The truth is, replacing your cell phone is expensive. Even if you got a deal on your initial phone, you can’t be sure you’ll get the same one on your new phone, so you could be looking at hundreds of dollars in phone expenses. When compared to the $10 a month or so you might pay for phone insurance, it may seem like mobile phone insurance is worth having.

But, before deciding if cell phone insurance is worth the money, there are a few factors you need to consider.

Phone Insurance Considerations

One of the biggest ones is the deductible. Some insurers, whether they’re your phone provider or a third party, may have a deductible of $200 or more as part of your insurance plan, meaning you have to pay that much to repair or replace your phone before the plan kicks in. If you can last a year or two without dropping your phone in the swimming pool or off a ledge, then by the time you actually need it, you might not be saving all that much money, if you’re saving any at all.

Also, keep in mind that your insurance coverage may not be comprehensive. Maybe your phone protection plan doesn’t cover swimming pool damage or theft, or some other mishap you haven’t considered. Third-party insurers tend to be cheaper, but they also tend to cover a lot fewer incidents than your primary carrier.

Insurance vs. Selling Your Broken Phone

If you’ve got a very expensive phone and you’re accident-prone, insurance might make sense for you. But for many people, the risk doesn’t merit the cost. Insurance companies and carriers need to make money on these plans, and they can only do so by having more people pay in than they pay out.

There’s also one more important factor to keep in mind. If you do break your phone, there are some companies, like The Whiz Cells, that will buy your broken phone from you. Depending on the level of damage, you might end up with more cash towards your new phone if you sell it to The Whiz Cells than you’d get from your insurance, without ever having to pay that ten bucks a month to your carrier or third party provider.

If you need the peace of mind, get the insurance. But before you agree to shell out that extra ten dollars every month, you may want to head over to and see what we can do for someone with a broken phone. You’ll probably find that even though your broken phone isn’t worth anything to you, it can be worth a lot to us, which in turn can make it worth a lot to you again.

Furthermore, you can use your cash to buy a refurbished phone from our eBay store, making this route even more economical.