Asurion Phoneclaim insurance review


Asurion Phoneclaim insurance review

How & Why of Asurion FAQ

 Asurion provides coverage against theft, damage or loss of your existing mobile phone. It is the biggest mobile handset insurance provider in the US and even has an exclusive tie up with four of the leading carriers. For a list of other eligible mobile phone insurance  providers.
When you buy your phone from any of these carriers under their scheme, whilst filing an in store physical form or via online purchase, there is an option to avail of  this service. If however you did not buy the insurance package at the time of purchase, you can always head over to the Asurion website, select your carrier and choose a scheme that best suits your need and budget.
How much does coverage cost?
Probably the one thing holding you back is the thought of the cost.Just like any other insurance  yo need to first buy the premium package, you can pay for this either every month, which works out to anything between $5 to $9 depending on your phone model and carrier. You can also pay it for the full year or two, before hand, which works out slightly cheaper.
In addition to this premium payout, in the instance of making a claim, you will have to make a flat payment called a “deductible” that ranges from $50 to $300, again depending on your phone model and carrier.

Is mobile insurance worth it?

Lets be practical, in all its forms, insurance is a fail safe system. A backup, if you will, at a minuscule cost. With prices of high end smartphones on an average being $700, it makes sense for a few dollars more to get yourself protected, instead of crying later on. It was ok back in the day when our Nokia handsets costed us $100, and if it got lost, we could buy another one without batting an eyelid.As long as the deductible and the yearly package is reasonable, its definitely a good idea to get coverage.
Will i actually get a replacement?
Depending on your insurance package (you may choose partial coverage, which protects against mechanical electrical faults, or a service package which only entitles you to get your handset repaired) the insurance package which will cost much less. If you buy the more expensive full replacement package with a higher deductible, you can expect either a refurbished or a totally new phone in the mail within 3 days.
What if i lose my phone more than once?
While choosing your insurance provider, make sure to check each carriers claim limits. These are specified to a dollar amount, how much you can claim, which is about $1200 to $1500 per occurrence. Also the claim limit allows you to make a claim about twice in a 12 month period.
Can i cancel insurance halfway?
If you have paid for a year in advance and wish to cancel sometime midway,either to switch to another provider or because of bad service, most carriers that provide insurance will refund your money for the months that haven’t been covered yet. Some even refund your package on a pro rate basis, which is good.

I came across many personal finance websites that had a bad thing to say about phone insurance and why it was a waste of money .  Today’s smartphones are expensive to say the least, and on an average, all of us go through at least one phone every year or 18 months. Each one of us has at some point of time lost or broken their phones. That was still okay in the days when phones cost $75 on an average, but now, most middle of the road smartphones  hover just below the $500 mark. Buying a reasonable insurance plan should always be a priority.
I can remember the time, 6 years ago i lost  a Nokia Handset that cost me just $150, it hurt like bad,i couldn’t believe how careless i was, not only from the monetary point of view, but also the loss of  hundreds of numbers, contacts and pictures  i had stored on it. Most carriers give you an additional option at the time of purchase to buy coverage, but in case you didn’t that time, go through our list and make a choice.
What is a deductible?
In addition to buying the insurance product which you can choose to pay for on a monthly basis or for the full year,which works out cheaper, there is a non refundable flat payment every time you make a claim for your lost/stolen/damaged handset. This can vary from $50 for repairs and service to about$300 for a total replacement piece,which can either be new or refurbished. Depending on your phone and carrier, the deductible amount can vary,so make sure you pay attention to this detail before making your choice.

The Best Phone Insurance Providers

Listed in no particular order of preference, here are 7 phone insurance providers.

1. Asurion/

Asurion is the biggest player in the field of phone/wireless insurance with annual revenues in excess of $3 bn. They have exclusive contracts with 4 of the major carriers that lets users opt for insurance while buying a phone at a store and with any other provider you can enroll within 30 days of buying the phone. They have 2 programs that you can opt for.The equipment replacement program, which is a total solution to a new or slightly new piece in the event of loss,theft or damage and the equipment service and repair scheme that only covers maintenance against general hardware failure.
Depending on your phone make and insurance scheme, your insurance premium will vary from either $5 or $9 per month. When you make your claim, you will be required to pay a non refundable “deductible” in the range of $50 to $200 depending on your phone, in order to receive your new/refurbished phone from Asurion. You can claim upto an amount of $1500 per claim.Asurion represents at least 14 of the biggest carriers and deductible prices may vary according to each carrier.
Claim Limit-$1500
Deductibles-$50 to $200

2. Ensquared

Ensquared offers insurance for your iphone/ipad as well as other smartphones and tablets. You have to pay a one time fee to buy the insurance package instead of a recurring monthly premium with which you have a claim limit  upto $1000 per claim. There are 4 major products that are sold here. The most popular being the 2 year Iphone accidental damage that costs $89.99.Note that this is only for damage and not lost and stolen. For $129.99 you get accidental damage,lost or stolen cover for your iphone.
As far as other smartphones are concerned,a one year cover costs $58.99 and two years comes at $99.99.So within the first 90 days of buying your phone, you can apply for insurance from Ensquared.

Claim limit– $1000
Deductibles-$50 (iphone accidental damage) $179(iphone full cover) $75(Other smartphone)
Phone– 18884067925

3.Credo/The signal/Assurant

Assurant coverage for your mobile device is available for lost and stolen phones only. They send you a replacement within 3 working days, and the claim form can be filed online instantly.
Make sure to have your phone particulars ready before calling up the hotline to make your claim. You will need details of your Phone manufacturer and  the IMEI number.

4. Esurance/ Esecuritel

Esecuritel is one of the biggest providers of handset insurance in the US as well as neighbouring Canada.They provide cover to prepaid and postpaid for customers instore and via direct mail

6. Squaretrade

Squaretrade  charges a flat deductible of $50 for any smartphone coverage against damage or accidents. You can either buy the insurance coverage by paying $6.99 a month for two years straight, or a flat $125 for the same two year period.
You can cover your Android, Iphone, Ipad,Windows phone and Blackberry.
Claim limit– $199 basic phones,$399 basic smartphones,$599 premium segment smartphones
Deductible 1 yearandroid 69.99,iphone from $50(((plan costs $94)) for 2 years,,ipad,,plan costs $89 for 2years,,50 deductible
Phone-1-877-WARRANTY ( 1-877-927-7268).

7. Gocare

The good thing about Gocare mobile phone insurance is that you can buy an insurance product no matter how old your phone is. There is no 30 or 90 day deadline period from purchase within which you need to  register with them.However you will have to wait for 30 days after registering in order for the insurance package to kick in.
The limitation of Gocare is that it does not cover against loss of phone and only covers accidental damage,but for the price, its worth the risk. In addition to your Apple phone, you can also buy protection for your Ipad,Macbook or any other Laptop.
Phone– 1-855-GOCARE1
Deductibles(one year)-$59 i phone & android  $39-ipad

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