Cell Phones

3rd party insurance for cell phones

  • Last Updated:
  • Jan 13th, 2018 10:21 pm
[OP]
Newbie
Dec 4, 2017
8 posts
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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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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May 20, 2017
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GTA
buy flagship phone peace of mind, don't need insurance
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Mar 5, 2013
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Is this for lost or stolen phone purpose?
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[OP]
Newbie
Dec 4, 2017
8 posts
toronto
d1ulove3 wrote:
Dec 31st, 2017 1:45 pm
Is this for lost or stolen phone purpose?
Or damaged
[OP]
Newbie
Dec 4, 2017
8 posts
toronto
What difference does flagship make for insurance?
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wonderwhy wrote:
Dec 31st, 2017 12:46 pm
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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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:
Jan 3rd, 2018 12:26 pm
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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titaniumtux wrote:
Jan 3rd, 2018 11:47 pm
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:
Jan 4th, 2018 10:55 am
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
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Feb 22, 2013
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KwameA wrote:
Dec 30th, 2017 3:02 am
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.
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Feb 22, 2013
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cal653 wrote:
Jan 7th, 2018 7:18 am
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
270 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.

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