Скачать или смотреть Credit Card Benefits Deep Dive Part 2: What YOU Need to Know About Cell Phone Protection

So first feature is cell phone protection. This feature is slowly becoming more popular and seen on cards such as the Chase Freedom Flex and Wells Fargo Amex Propel.

Freedom Flex

Get up to $800 per claim and $1,000 per year in cell phone protection against covered theft or damage for phones listed on your monthly cell phone bill when you pay it with your eligible credit card. Maximum of 2 claims in a 12 month period with a $50 deductible per claim.*

Wells Fargo
Pay your monthly cellular telephone bill with your eligible Wells Fargo consumer credit card and you'll get up to $600 protection (subject to a $25 deductible), max $1,200 in a 12 month period.
Eligible cell phones are protected against damage or theft, however, coverage does not include cell phones that are lost.

First step is to check and see the general details of what is covered and for how much.
In this case wells fargo covers up to $600/incident, with a $25 deductible and $1,200 max in a 12 month period. Given current cell phone prices, this will probably only be good for one phone. Flagships are easily over $600 with new phones being closer to $2,000
Second. Check for any exclusions or requirements
This insurance is SECONDARY, if you have homeowners or renters insurance which will cover this claim, this policy will not payout
You have to pay for the cell phone bill with your credit card, other cards (debit, business) may not qualify. Coverage begins the first day of the calendar months following a payment
If your phone is stolen, you have to file a police report
You have to file within 60 days
Exclusions
Accessories other than battery/antenna
Phones purchased for resale or commercial use
‘Mysteriously disappear’ (AKA LOST)
Care control of a common carrier (USPS, Airplane)
Stolen from baggage unless hand-carried under the personal supervision
Rented or borrowed phones or pay as you go
Rented or leased from person/company other than a cellular provider
Purchased from anyone other than a cell service provider or internet store that can initiate activation
Cosmetic damage
Minor screen cracks and fractures less than 2 inches and do not prevent the use of features
Damage from hostility, fraud, confiscation by authorities, normal wear and tear, earthquake/flood

Third. Check and see who is administering that coverage and how you can report claims.

Fourth. See if anything else is covered.

As with a lot of insurance, the downside is that claims may take a while to process and for payment to be issued. So in the meantime, you might be out of pocket paying for a new phone or replacement while your phone is going through the process.

First off, nearly all of these plans cover accidental damage (such as cracked screens or liquid damage), while renters insurance does not. On the other hand, retailers (such as AppleCare+) don’t provide insurance for phone theft in their base plan, while phone carriers and renters insurance policies do.

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Disclaimer: I am not a financial advisor, your insurance agent, or a lawyer. Please refer to professional guidance for specific advice. Every case is different requires individual evaluation. Information regarding past results gives no guarantee of future results. The information and any benefit from this video is for entertainment purposes only for your general use under your own discretion and is not intended to be and does not constitute financial, insurance, or legal advice. All views held are my own and are not on behalf of any individual, organization, or corporation that may be directly or indirectly referenced in any video.