Where to start… You’ve probably come across a wide range of phone insurance options. So hopefully this article will help you pick the best one for you.
But before we get into our comparisons, is phone insurance even worth it?
Should I buy phone insurance?
A range of reports have found that nearly half of people damage their phones. Most people break their phone within the first year of owning it. The majority of damages result from accidental drops, leading to cracked screens, electronic or camera malfunctions, or water and liquid damage (lot’s of phones fall into tubs, showers, pools, hot tubs, and take toilet dives!) Also, just because your phone is advertised as “waterproof,” it may not be if it has sustained any prior damage resulting in even the smallest of cracks that can let liquid seep in.
Repairing phones today typically will cost hundreds of dollars. Screen replacements alone for something like a common crack range from $200 at the lower end and go up to $300 for new high-end phones like the iPhone 11 Pro and Samsung Note and Galaxy devices.
But for any damages beyond screen cracks, typically the entire device will require replacement! And a full replacement will cost nearly the entire price you paid for your phone when it was brand new, unless you want to downgrade to a cheaper model.
If you have one of the newest high-end flagship phones from Apple or Samsung, you may be needing to shell out up to $1,000 (for models like the iPhone 11 Pro, or Samsung Note 10). A refurbished version or an older version from the same manufacturer would still run you $700 or more.
So as often as people drop and damage their phones… is a risk of a $700 – $1,000 one you’re willing to take?
If you’re typically careful with your phones, you may decide you don’t need any phone insurance and would be better off taking the risk of damage occurring and paying out-of-pocket for any of these expensive repairs or replacements you’ll need.
But chances are if you’re reading this, you’ve already decided you may not want to run the risk of having to spend so much in case you break your phone or it gets stolen…
Here we’ll break down the costs and differences between what’s available and also provide some guidance in finding the best option for you based on the extent of the coverage provided, what type of device you have, the costs of the phone insurance and protection plans, and their claim deductibles.
Who offers phone insurance?
1. Manufacturer Phone Insurance plans
There are phone insurance plans offered by the major phone manufacturers such as AppleCare+ for iPhones, Samsung’s Total Care for Samsung devices, and even Preferred Care for Google Pixel phones.
Buying your phone insurance from the manufacturer of your phone can be a good idea because you’ll know all repairs will be done with all the proper parts to keep your device performing as it should even after it’s been damaged.
However, the phone insurance plans offered by manufacturers usually aren’t the best value compared to other phone insurance options… They can also be more restrictive.
AppleCare+ limits you to only (2) claims per 1 year coverage period with $100 deductibles for damage, $150 deductibles for theft, and $30 for screen repairs, and also requires all repairs be done at an Apple Store. If you break your phone or it is stolen more than twice in a year, you’ll be out of luck on being covered, and if the closest Apple Store is far away from you, then you probably don’t want to be restricted to only going there for repairs. (See list of all Apple Stores here).
Samsung’s Total Care protection, is a better value and allows up to (3) claims in a 1 year period also with up to a $250 deductible for damage, and some lower deductibles for screen repairs. But the network of repair centers that service Samsung phones through this repair plan is quite limited so getting your phone fixed may take awhile longer, and waiting on parts to be in stock can also cause delays.
Google’s Preferred Care limits you to (2) claims per 1 year coverage period, so similar to AppleCare+, you’ll be out of luck if your phone breaks more than twice in a year. The deductible for damage is also higher, $150, and if you don’t live near one of their select repair locations, you have to mail your device in and have a replacement shipped to you.
2. Mobile Network Carrier Phone Insurance Plans
One of the most popular ways people buy phone insurance is through their cell phone carrier. What you may not realize is that of the major 4 cell phone carriers in the U.S., AT&T, Verizon, T-Mobile, and Sprint, all of their phone insurance plans are actually provided by the same insurance companies: Asurion and Assurant.
The upside to this is that Asurion and Assurant have a lot of experience with handling phone claims and because of the large volume of phone insurance plans they provide, they also offer pretty good pricing! However, depending which cell phone carrier you have… they may be trying to charge you more money on top of the cost of the Asurion or Assurant plan they offer under their own brand name.
Most cell phone carriers provide the phone insurance plans ranging from $9 to $18 per month per device. If you have a newer expensive phone like an iPhone 12, 13, or Samsung Galaxy S21, most carriers will charge $15 – 18 per month for coverage. Some carriers like AT&T and Verizon offer package plans where you can cover 3-4 phones together for a bit of a discount.
But the deductibles charged by these phone insurance options can range from $100 to $300. Deductibles will be cheaper for simple screen crack repairs, and much higher for more extensive damage, liquid submersion, or theft.
Yet the price they all advertise as their deductibles range from “as low as $29 to $49.” However, that low deductible is only for a screen repair which falls under certain conditions and only for certain devices. For example, the newest iPhone has a screen that is too expensive and the deductible is actually higher. Additionally, these lower advertised deductibles are not available for all phone screen damage claims, typically only those which can be serviced by those in Asurion or Assurant’s repair networks which may not be available in your area.
3. Retailer and Third Party Phone Insurance Plans
In addition to the phone insurance offered by the major U.S. cell phone network carriers, retailers like Best Buy offers phone insurance via Geek Squad, and third party insurance providers like Squaretrade, a part of Allstate, also offer a very popular phone insurance option. Walmart also sells phone insurance, and while it used to be provided by Asurion as well, they recently switched to providing Squaretrade coverage (a part of Allstate).
Best Buy’s Geek Squad Protection:
Costs $9-11 per month without theft coverage and $11-13 per month with theft coverage. But the deductibles for any repairs on a phone that’s worth $800 – $1,000 (which is most new iPhones and Samsung devices) is $200! For a theft claim, it’s $250. There’s also a limit of (3) claims within 2 years.
Squaretrade Phone Protection (same as Walmart):
Costs $9 per month and does not include theft coverage. Deductibles are $149 for any claim with some screen repairs costing less depending on the availability of select repair options in your area.
Can I buy phone insurance if my phone is more than 30 days old?
This means that if you purchased your phone awhile back, and now you’ve decided you’d like to buy phone insurance for it, you’ll have less options.
Squaretrade allows you to buy coverage on an older phone, but will obviously not cover any damage or problems with the phone that existed prior to when you purchased protection.
The better option though is phone insurance through an AKKO plan… (learn more below)
The Top Choice
Best Phone Insurance in 2022: AKKO Plan
We’ve reviewed all the most popular options for Phone Insurance, but the choice becomes pretty clear when you compare them against an AKKO Plan. You can also view our comparison chart here. As well as read about why GadgetReview ranked AKKO #1 for Phone Insurance here and Android Central ranked AKKO Best Alternative Phone Insurance, the only 3rd party protection provider that made their list alongside SquareTrade.
AKKO has also been ranked #1 by Benzinga ahead of Squaretrade, AppleCare+, and Samsung Premium Care and the best cellphone insurance based on policy budget by Investopedia ahead of Asurion, Squaretrade, AppleCare+, Samsung Care+, and Progressive!
Cost:
~ Way better value. ~
While other phone insurance plans cost an average of $12-18 per month for a higher-end phone, an AKKO Plan costs $15 per month and protects not only your phone, but nearly ALL your personal electronics and personal items (such as laptops, tablets, headphones, and more). So if you’re comparing based on the cost of insurance, you won’t get a better value elsewhere, because all the other phone insurance options only cover 1 item: your phone! But an AKKO Plan covers your phone + nearly ALL your electronic devices and other personal belongings.
UPDATE: You can also now purchase AKKO’s Phone Protection plans starting from only $5 per month! (you can then always upgrade to an AKKO Plan later).
Coverage:
~ More protection, unlimited claims. ~
An AKKO Plan includes not only Accidental Damage protection, but also Theft protection and there is no limit on the number of claims you can file each year. This makes an AKKO Plan a far superior choice in protecting your phone because in case you do face multiple incidents of damage or theft, you won’t be stuck with a phone insurance plan that won’t protect you! You also get unlimited claims for all your other devices and personal items on your plan (laptop, tablet, headphones, smartwatch, TV, etc.)
Repairs:
~ Super flexible, repairs close to you. ~
What makes an AKKO Plan an even clearer top choice for phone insurance is the repair process. With an AKKO Plan, you can get your Phone and other Devices fixed just about anywhere you want. Most times you get to choose the closest and most convenient repair shop, and if you have an Apple device, you can get it fixed at an Apple Store! (including Apple computers, laptops, iPads, and watches).
Deductibles:
~ Lower than other plans, $29 for any iPhone screen crack, $29 – $99 for Androids, and no repair or theft deductibles higher than $99 for any phone or any other device. ~
With an AKKO Plan, the deductible for any iPhone screen crack is only $29, and $29-$99 for Androids based on the model. For any other claim deductibles are never higher than $99, whether Accidental Damage that requires more than just replacing your screen or a really bad drop that results in needing a full device replacement. This deductible is substantially lower than many other phone insurance providers. This same $99 deductible also applies to Theft claims (vs. up to $300 with any other plan that covers theft). For some older/lower-cost phone models, the deductibles are only $29-$75!
WAY MORE than just Phone Insurance (at no extra cost!):
~ Most customers call an AKKO Plan a “No Brainer.” ~
Not only does an AKKO Plan prove to be a superior phone insurance option, but for the same cost as phone insurance from say… T-Mobile or Sprint, or paying a couple dollars more than what you’d pay for AppleCare+, an AKKO Plan will provide you with the same Accidental Damage protection for your phone PLUS include Theft protection, AND extend the same Damage & Theft protection to nearly ALL your personal electronics and belongings!
You can choose to protect…
Electronics: Laptops, Tablets, Smartwatches, TVs, Speakers, Headphones (airpods), and more
Gaming Devices and Systems: Monitors, Game Consoles, Custom Desktops, Peripherals (mice, keyboards, controllers), and more
Cameras & Photography Equipment: Digital and Film cameras, GoPros, DSLRs, Lenses, Lights, Accessories, and more
Audio Equipment & Music Instruments: Speakers, Audio Gear, Microphones, Headphones, Guitars, and more
Sports & Camping Equipment: Bikes, Scooters, Skateboards, Snowboards, Skiis, Golf Clubs, Tennis Racquets, Football/Baseball Gear, Tents, Outdoor gear, and more
Clothes, Jewelry, & Accessories: Sunglasses, Watches, Jewelry, Purses, Jackets, Boots, Shoes, and more
Conclusion
Even if you weren’t sure you wanted to buy phone insurance at all… Maybe now that you’ve learned about the AKKO Plan, you’ve realized there’s a way cheaper and better way to protect your phone, while also getting all the added value of protection for nearly ALL your other personal belongings , whether electronic devices, cameras, music instruments, and more!
(and don’t forget, if you do just want to only protect your phone, you can enroll in a phone-only plan for as low as $5/mo)
The idea of paying $15 per month to protect only your phone might seem expensive, because in the course of a year, you may not even damage your phone…
But with an AKKO Plan, if your phone doesn’t get damaged or stolen, the $15 per month you pay is also providing you peace-of-mind that all the items you care about most and rely on everyday are also covered against damage and theft. And that’s definitely worth it!
So think about the items that are most important to you. Besides your phone and electronics, what other items would you add to your AKKO Plan?
Learn more about AKKO’s coverage below and sign up for a plan today!
You can also check out why GadgetReview ranked AKKO #1 for Phone Insurance in their article here and why Android Central ranked AKKO Best Alternative Phone Insurance, the only 3rd party protection provider that made their list alongside SquareTrade.
Receive your 1st Month of protection FOR ONLY $1.00 and cancel anytime with no fees. Just enter your email below!
AKKO Plan Info & FAQs
What items are covered by an AKKO Plan?
Our Phone-only plans cover just your 1 phone.
But our one-of-a-kind “Everything Protected” AKKO Plan covers 1 phone PLUS 25 additional items.
Select one (1) phone + any 25 of your eligible belongings to load into your AKKO account for protection. You can swap items in and out of your AKKO plan whenever you’d like!
Electronics
Phones, laptops, tablets, smartwatches, TVs, desktop computers, monitors, etc.
Photography & Video Equipment
Cameras, lenses, accessories, tripods, gimbals, etc.
Audio & Music Gear
Speakers, electronic music instruments, DJ equipment, headphones, musical instruments, etc.
Gaming
Video game consoles, controllers, peripherals, VR, etc.
Personal Transportation (Non-Motorized)
Bikes, scooters, skateboards, unicycles
Sports & Recreational Gear
Skis, snowboards, surfboards, golf clubs, tennis rackets, camping/climbing equipment, etc.
Clothing & Accessories
Clothes, jackets, shoes, sunglasses, watches, jewelry, etc.
Appliances (only counter-top):
Blenders, coffee makers, microwaves, juicers, etc.
Handheld/Portable Power Tools
Handheld drills, circular saws, jigsaws, sanders, routers, etc. (covered only against accidental damage and theft)
School Supplies
Textbooks, backpacks, calculators, etc.
NOTE: All plans are per individual and will only cover items owned by the planholder. Plans cannot be shared with family or friends.
Adult and Student Plan accounts protect a maximum of one (1) phone. To cover additional phones, purchase additional adult or student plans. There are no quantity limits for other personal electronics and eligible items you want to add to your account.
Multiple plans may be purchased at a discount with billing bundled together!
What does an AKKO Plan protect me from?
- Cracked screens
- Spills & liquid submersion
- Accidental damage (like drops)
- Damage & malfunctions from accidental damage/drops
- Mechanical/electrical component failures (for phones)
- Theft
- Theft of items from an unattended vehicle via forced entry (car break-ins)
What is the deductible on an AKKO Plan?
The deductibles for phones on our phone-only protection plans or our “Everything Protected” AKKO Plan ranges from $29 – $99 per claim based on the phone’s model. $99 is also the max deductible even for Theft or total replacement claims! (less than half the cost of most other protection providers.) Click here to view the deductibles for repairs/replacements on your specific phone make/model.
If you have one of our “Everything Protected” AKKO Plans which protects 1 phone + 25 other items, all other items besides your phone are subject to a $99 deductible for any incident of Accidental Damage or Theft.
This amount that is “deducted” from any reimbursement payout you receive exists so that individuals are still motivated to be careful with their stuff.
But with all of AKKO’s protection plans, we made sure to have the deductibles at least be set at easily affordable amounts for incidents of accidental damages, breakdowns, and theft, rather than the $150 – $400 deductibles seen on many other protections plans for phones, laptops, and other electronics and personal items.
Note: Deductibles for lost phones on annually paid plans are equal to the deductible for theft on the same phone model, but there is a limit of only 1 Lost phone claim covered per 12 months. Lost phone protection is not included on phone-only plans or AKKO Plans that are paid monthly.
What is the coverage limit?
AKKO Base Plans ($15/month for adults, $10 for students) include $2,000 of reimbursement protection per incident**. There are no annual reimbursement limits or limits on the number of claims you may file.
**$2,000 PER INCIDENT means that, for instance, if you just replaced your broken phone with us and your new phone is stolen the following week, the replacement value of your phone will be covered in full (after deductible) as long as that amount is less than $2,000.
If at another point in the same year you drop your laptop and the screen is smashed, the repair cost or replacement value of the laptop will be fully covered (after deductible) as long as it’s less than $2,000.
In short, there is no annual limit to your claims and reimbursement, and every incident is covered individually.
However, if during a single incident someone steals your entire backpack, which contains both your phone and laptop, up to $2,000 total is covered to reimburse you for replacing those items and any other covered contents of your backpack (including the backpack itself). Even if the combined replacement cost exceeds $2,000 for all these items, your coverage will pay out a maximum of $2,000.
Higher per-incident coverage limits are available!
Once you’re registered, you can upgrade your coverage to a per-incident reimbursement limit as high as $10,000! Our most common per-incident upgrade is $3,000 – $5,000, which adds only a few dollars to your monthly premiums.
Our studies and claims data show that the $2,000 per-incident limit is more than enough for the majority of users. That said, if you would like to cover more expensive items like a high-end laptop, specialty photography or music gear, etc., we offer an easy option to upgrade your limit. Simply contact us via the “billing” section of your account to initiate an increase to your per-incident limit.
Other Limitations:
- Coverage for jewelry, watches, rings and other items consisting of gold, silver, platinum or furs is limited to $1,000.00 for any one incident.
- Coverage for bicycles is limited to $1,000.00.
- Property in a personally owned automobile is covered, provided that the vehicle was locked and windows fully closed at the time of theft, and that there was visible evidence of forced entry into the vehicle.
NOTE: All plans are per individual and will only cover items that the individual owns. This means that if you file a claim, you must have proof that you are the owner of the item.
Questions about coverage limits? Contact us!
Do I need my item receipts for coverage? What if I don't have them?
For accidental damage claims, we do not require the original purchase receipts for the items you want to protect on your plan. While the receipt would be preferred, you can establish proof of ownership through other means.
For items purchased used or through a third-party marketplace platform such as Craigslist, eBay, Facebook Marketplace, or OfferUp, you may request an email be sent to you by the seller stating what you bought, when you bought it, and how much you paid for it. If an item was gifted to you, you may need to ask the gift giver for a statement that says as much.
For theft claims, proof of purchase will need to be provided. If you don’t have the original receipt of your purchase, you can try to contact the original seller or retailer, as they typically have records of past transactions. You can try providing your name, phone number, email, or credit card number to try and track down a receipt for something you purchased.
You can also provide our team a record of your credit card or bank statement showing the date and amount paid for an item. Finally, if you purchased an item through a marketplace or from a private seller, you can provide a record of, for instance, a PayPal or Venmo transaction.
What items are NOT covered by an AKKO Plan?
We do not cover furniture, automobile, motorcycle, boat, motor, aircraft or aircraft parts (including drones) or any type of motorized land vehicle or other conveyances or their accessories (including car stereos, GPS navigation devices, keyless entry), money in currency or coin, evidences of debt, letters of credit, passport documents, notes, securities, transportation tickets or any other tickets, pharmaceuticals, prescription or over- the- counter, artwork, professional or amateur, antiques or collectables, animals, firearms or ammunition, salesman samples, contact lenses, keys, artificial teeth or limbs, or merchandise for sale, forms of identification, including student ID’s and driver’s licenses.
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Reimbursement for jewelry, watches, rings, and other items consisting of gold, silver, or platinum or furs is limited to $1,000.00 for any one incident of loss.
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Reimbursement for bicycles is limited to $1,000.
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Property in a personally owned automobile is protected, provided that the vehicle was locked and windows are fully closed at the time of theft and there was visible evidence of forced entry into the vehicle.
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Surfboards are protected for theft and damage due to mishandling on airlines, accidental damage from non-airline transportation or use/handling not included.
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Appliances: only counter-top appliances such as blenders, coffee makers, toasters, or microwaves are protected. Appliances which are wall mounted or integrated into cabinetry or have any types of utility hookups such as gas or water are not covered.
- Handheld/portable power tools are covered only against accidental damage and theft.
Does my AKKO Plan cover lost items and lost phones?
If you lose one of your belongings, you’ll need to evaluate the situation to determine whether it qualifies as theft or what’s called “mysterious disappearance” (i.e., you simply misplaced your belonging and have no idea where it went).
Use tools like Find My iPhone or Google’s Find My Device to try and recover your phone; similar services exist to track down a missing laptop or tablet. Take screenshots or record evidence of your attempts to recover your phone to provide the most complete set of evidence you can with your claims.
To receive reimbursement for a stolen phone or other item, you must be able to share your location timeline and/or the location timeline of the device.
If you have an Android device:
Make sure Find My Device is working and enabled. Go to your web browser, search for “Find My Device” and click the first result. Make sure you can see the device on a map displaying “last known location” along with the device name, make, and model.
If you have an iPhone:
The “Find My” app on iOS does not provide a history of your device’s location, which can help provide proof of theft for your claim. Download the Google Maps app and be sure it is set to allow location access at all times. You can verify that your Google Maps timeline is available by checking here: https://www.google.com/maps/timeline
You will only need to show AKKO your location history if your phone or another item is stolen. Your location data will not be used for any purpose other than to verify your claim.
The protection you get with an AKKO Plan will cover theft of any item, but it will only cover “mysterious disappearance” of phones for customers who have signed up for an annual payment plan. Deductibles for lost phones on annually paid plans are equal to the deductible for theft on the same phone model, but there is a limit of only 1 Lost phone claim covered per 12 months. Lost phone protection is not included on phone-only plans or AKKO Plans that are paid monthly.
Can I add multiple phones to my AKKO Plan?
Plans cannot be shared with friends, family members, or anyone else. All plans are per individual and will only cover items that the account holder owns.
All accounts may have up to one (1) phone on them. To add more phones, you must purchase additional plans – either phone-only or an “Everything Protected” AKKO Plan.
New Customers:
– Purchase “Everything Protected” AKKO Plans for your family/group: CLICK HERE
– Purchase multiple Phone-only protection plans: CLICK HERE
Current Members:
– Contact our billing team via Chat or email [email protected] to add additional plans for new members/devices
– Did you already register multiple plans? Remember, each phone has its own login. Be sure to have each member of your group/family login to their own account using their own cell phone number to activate and register their protection. (more info)
When does my coverage take effect?
Your protection begins at 12:01 a.m. Standard Time at the location of your property the day after your account is created and payment is current and activation is completed.
There is a waiting period of 30 days before any coverage under your membership plan begins (including protection against accidental damages, device malfunctions/failures, theft, or lost phones). In situations where ample photo/video evidence is available, and all photo verification steps have been completed for your item, this waiting period may be waived for cracked screen damages, but no other type of accidental damages, malfunctions, theft, or lost phones.
Be sure to follow all instructions within your account for adding photos and information for your items.
Photos of phones and tablets should be uploaded using the phone’s own cameras (front and rear) to provide pictures of the front (screen) and back sides of the device by taking the photos in front of a mirror. A photo of the phone’s “About” page in settings should also be provided by using another device (do not provide a screenshot) and the serial # of the device should be visible on the screen, as well as the entire front of the phone being visible.
Photos of laptops and computers should be taken by including a photo of the device with the screen powered on and also displaying the “about” page showing the specs and serial # of the computer.
Photos of TVs should also be taken where the screen is powered on and displaying video/image. Also include photo of the serial #. For gaming consoles, be sure to include photos that show the device powered on with image/video visible on a display. Do not just include photos of the gaming console itself if it has no screen.
Can I add items that are older or used to my protection plan?
YES!
The age or place you purchased your items does not matter. As long as an item is eligible for protection, regardless of its age or if you purchased it used from a store or individual, you can add it to your plan and have it protected through AKKO against accidental damages and theft.
NOTE: for electronics, parts failures are only covered for devices that were purchased new and within 120 days after you enroll with AKKO (except for phones). Older items ARE still covered for accidental damage and theft as long as they are undamaged and fully functional! (see more info here)
RECEIPTS:
For items you purchased used or through a 3rd party marketplace platform such as Craigslist, eBay, Facebook Marketplace, or OfferUp, request an email be sent to you by a seller stating the date you purchased an item, the amount paid, and what the item was.
This can suffice as a receipt should you be asked to provide one during a claim. However, for any claim of theft, you must also be able to provide proof of purchase (such as a record of a PayPal or Venmo payment, or a copy of your credit card or bank statement showing the date and amount paid). Read more here about how purchase receipts are not required for coverage.
What kind of mechanical/electrical breakdown protection does AKKO provide?
NOTE: For phones, mechanical/electrical issues are covered regardless of when you purchased the phone and whether it was purchased used, new, or refurbished. It just needs to be undamaged and fully functional at the time you register. For all other items, the below conditions apply.
Our AKKO Plan ($15/month plan that protects 1 phone + 25 items) includes a mechanical/electrical components failure protection guarantee for all your portable electronic devices (such as laptops, tablets, smartwatches, and headphones) and TVs that lasts for 36 months from the date of purchase of each device.
Portable electronic devices and TVs you add to your AKKO account for this protection must have been purchased “new” by you either within the 120 days prior to your registration, or anytime after you registered your plan. You must upload your purchase receipt with each device you wish to have this protection to your AKKO account.
It’s basically like having FREE 3-year mechanical warranties on all of your portable electronic devices and TVs!
Terms:
For any of your portable electronic devices or TVs that already have an active warranty which covers mechanical/electrical component failures (either provided by the manufacturer of the device, a retailer/reseller, or third party) any claims pertaining to mechanical/electrical component failures would first go through your existing/included warranty.
After any existing warranty expires covering mechanical/electrical failures for your eligible devices, AKKO would take over for the remainder of the 36-month period that began on the date of purchase of the eligible portable electronic device or TV.
A portable electronic device is defined as any device which requires either an internal or external battery to operate. In addition to portable electronics, this protection and these terms also apply to TVs. All claims are still subject to your plan’s standard service fees/deductibles.
This special protection ends for your devices if you cancel your plan with AKKO and cannot be resumed even if you choose to re-enroll with AKKO at a later point in time.
