Cell Phones

3rd party insurance for cell phones

  • Last Updated:
  • Jan 13th, 2018 10:21 pm
Newbie
Dec 4, 2017
31 posts
24 upvotes
toronto

3rd party insurance for cell phones

Any active companies providing insurance for Cell phones bought outright?
Looking to purchase a new phone off contract but would like the peace of mind
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May 8, 2009
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Going to the Moon
Any platinum credit card. Pay the phone via credit card in full (no gift cards, no subsidy) and get one bonus year warranty.

If your credit card doesn't offer this, then it's time to switch credit cards.
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Deal Addict
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May 20, 2017
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buy flagship phone peace of mind, don't need insurance
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Mar 5, 2013
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Manila, Philippines
Is this for lost or stolen phone purpose?
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Newbie
Dec 4, 2017
31 posts
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toronto
What difference does flagship make for insurance?
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May 8, 2009
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wonderwhy wrote: buy flagship phone peace of mind, don't need insurance
You mean buy the flagship phone, or there's a special insurance plan called "peace of mind"?

All phones, regardless of price, tier, awesomeness, brand, etc. are equally vulnerable to damage, theft, etc. Some phones may be waterproof, but aside that, I'd recommend some sort of plan mapped out (backup phone, savings stowed away to buy a replacement, maybe extended warranty if you're into that, etc.).
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Sr. Member
Apr 20, 2009
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I have the Desjardins cashback visa which provides this coverage. It's not super comprehensive, but for no annual fee I'll take it.

Some home insurers allow you to add this coverage as well, but I would not recommend it as any claim would result in your rates going up and they can use it as an excuse to drop you.
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absolut123 wrote: I have the Desjardins cashback visa which provides this coverage. It's not super comprehensive, but for no annual fee I'll take it.

Some home insurers allow you to add this coverage as well, but I would not recommend it as any claim would result in your rates going up and they can use it as an excuse to drop you.
Also consider the deductibles. Cellphones will have to get much more expensive for people to start claiming them via home insurance policies.
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Apr 20, 2009
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titaniumtux wrote: Also consider the deductibles. Cellphones will have to get much more expensive for people to start claiming them via home insurance policies.
You can buy additional coverages through home insurers specifically for your cell phone that comes with no deductibles or very low deductibles ($100-250). I still don't recommend it as a claim would result in higher rates and potentially impact your insurability.
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absolut123 wrote: You can buy additional coverages through home insurers specifically for your cell phone that comes with no deductibles or very low deductibles ($100-250). I still don't recommend it as a claim would result in higher rates and potentially impact your insurability.
Agreed. RFDers know how to get phones for dirt cheap, so the replacement cost is a better option :D
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Member
Apr 14, 2006
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I use multiple no fee cards. Fido 1.5% cash back is what I mostly use in general.

I keep the Desjardins card below solely for the free mobile insurance.

"Mobile Device Insurance provides coverage up to $1,000 in the event your cell phone, smartphone or tablet is lost, stolen, accidentally damaged or experiences mechanical failure"

https://www.desjardins.com/ca/personal/ ... /index.jsp

Desjardins Cashback Card
Interest rate: 19.9%
Annual fee: none
Cash back: up to 1% on your purchases
Mobile Device Insurance
3-Day Travel Insurance at no charge
Member
Feb 22, 2013
240 posts
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KwameA wrote: Any active companies providing insurance for Cell phones bought outright?
Looking to purchase a new phone off contract but would like the peace of mind
If you are buying from a store like Walmart, etc, they should have insurance for their electrical/electronic products for a fee.

Otherwise, as others said use a credit card with extended warranty protection.
Member
Feb 22, 2013
240 posts
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cal653 wrote: I use multiple no fee cards. Fido 1.5% cash back is what I mostly use in general.

I keep the Desjardins card below solely for the free mobile insurance.

"Mobile Device Insurance provides coverage up to $1,000 in the event your cell phone, smartphone or tablet is lost, stolen, accidentally damaged or experiences mechanical failure"

https://www.desjardins.com/ca/personal/ ... /index.jsp

Desjardins Cashback Card
Interest rate: 19.9%
Annual fee: none
Cash back: up to 1% on your purchases
Mobile Device Insurance
3-Day Travel Insurance at no charge
The Desjardins's Mobile Device Insurance is a nice feature but not likely to be a big deal because it is only two years coverage.

Credit cards with Purchase Protection and Extended Warranty insurance would have covered it; Purchase Protection for loss or damage for 30 to 90 days, depending on the card issuer and Extended Warranty insurance for additional year(s) that the manufacturer is offering.

The question one asks is do I want a 1% cash back card with Mobile Device Insurance or do I want a higher cash back percentage card?


https://www.desjardins.com/ressources/p ... 0962858000


COVERAGE PERIOD


Coverage ends on the earliest of:
1. two years from the date of purchase;
2. the date ONE monthly wireless bill payment was not charged to Your Account, if You are funding the cost of Your Mobile Device through a Plan;
3. the date the Account is cancelled, closed or ceases to be in Good Standing;
4. the date the Cardholder ceases to be eligible for coverage; and
5. the date the Policy terminates.
Member
Apr 14, 2006
416 posts
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Use multiple cards as stated before. Fido gives 1.5%. This 1% card is only used the odd time to buy phones. Most of the time its kept in a drawer at home, not daily carry. Just one out of more than a dozen cards kept on file.

Agreed only 2 year coverage but its free so I can't complain too much. It's 0.5% less than Fido, so the cost is a one time hit of $5 per $1000 phone value. If you compare carrier or Apple Care + ($170) Insurance it costs way more than that.

It's mainly useful if you lose your phone or doing something stupid like dropping and breaking the screen.

I don't think extended warranty covers user negligence / dropping for 2 years while this does.

Please feel free to advise a better no fee card to use for buying phones, I am always open to options.
Member
Feb 22, 2013
240 posts
42 upvotes
cal653 wrote: Use multiple cards as stated before. Fido gives 1.5%. This 1% card is only used the odd time to buy phones. Most of the time its kept in a drawer at home, not daily carry. Just one out of more than a dozen cards kept on file.

Agreed only 2 year coverage but its free so I can't complain too much. It's 0.5% less than Fido, so the cost is a one time hit of $5 per $1000 phone value. If you compare carrier or Apple Care + ($170) Insurance it costs way more than that.

It's mainly useful if you lose your phone or doing something stupid like dropping and breaking the screen.

I don't think extended warranty covers user negligence / dropping for 2 years while this does.

Please feel free to advise a better no fee card to use for buying phones, I am always open to options.
The full price needs to be charged to the card. For that reason, to take advantage of credit card insurance (Purchase Protection and Extended Warranty), the phone has to be purchased outright and not on subsidy or combined with cash, gift card. Splitting the phone purchase between several cards will not qualify for the insurance coverage.
The Extended Protection feature automatically, without
registration, provides Cardholders with double the term of the Manufacturer’s
Warranty up to a maximum of one additional full year commencing immediately
following the expiry of the applicable Manufacturer’s Warranty on most items
purchased in Canada, the United States or worldwide when the full Purchase
Price is charged to the Card and the original Manufacturer’s Warranty is
honoured in Canada or the United States.
Member
Apr 14, 2006
416 posts
279 upvotes
You don't have a $2K card limit? That is not high....

I use only that one single card to buy a phone but other multiple cards to buy groceries / gas as they give a 1.5% - 3% return.

I have numerous other cards that offers extended warranty. Mobile device insurance is much harder to find. I set aside this card for phones purchases ONLY:

Mobile device insurance > Extended Warranty
(As Mobile device covers everything in extended warranty + more such as cracked screen from drops or lost phone as well as mechanical defects)

You can do subsidized phones too but I usually buy outright. It says you can activate mobile device insurance by:

1. Finance the purchase of your new device through your wireless service provider and pay your device's monthly wireless bill with your credit card.
OR
2. Purchase your new device with your credit card. For more information, see the certificate of insurance.

https://www.desjardins.com/ca/personal/ ... /index.jsp#
(Click the + sign on the Insurance section)
Member
Feb 22, 2013
240 posts
42 upvotes
cal653 wrote: You don't have a $2K card limit? That is not high....

I use only that one single card to buy a phone but other multiple cards to buy groceries / gas as they give a 1.5% - 3% return.

I have numerous other cards that offers extended warranty. Mobile device insurance is much harder to find. I set aside this card for phones purchases ONLY:

Mobile device insurance > Extended Warranty
(As Mobile device covers everything in extended warranty + more such as cracked screen from drops or lost phone as well as mechanical defects)

You can do subsidized phones too but I usually buy outright. It says you can activate mobile device insurance by:

1. Finance the purchase of your new device through your wireless service provider and pay your device's monthly wireless bill with your credit card.
OR
2. Purchase your new device with your credit card. For more information, see the certificate of insurance.

https://www.desjardins.com/ca/personal/ ... /index.jsp#
(Click the + sign on the Insurance section)
That is only specific to the Desjardins credit card where non-full payment is accepted for coverage.

For people relying on the big four bank's credit card's Purchase Protection and Extended Warranty insurance, only full payment of outright purchase of cell phones qualifies for coverage, according to their certificate of insurance.
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I'm with MBNA. Just learned that even if you put a phone on a 2 yr, whatever you pay upfront is insured. Example, say you pay $600 upfront for an iPhone X, then the bonus year warranty via credit card covers up to $600. The nice thing about this is it's usually handy to cover repair costs. Say you pay $300 upfront for a new phone on a 2 yr, and you smash the screen, then it's $250 to repair the screen, they'll cover your $250+tax repair.

Better than nothing.
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