What’s the Best Phone insurance? – 2021 Comparison

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Have you ever asked whether you should buy phone insurance? If you’re one of the 50% of people who break their phone each year, chances are you would greatly benefit from having a phone insurance plan. Especially if you have a newer high-end device worth $700 or more. This article will help you learn about the differences between various phone insurance offerings and our recommendations on which phone insurance to buy.

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 3 year coverage period with $100 deductibles for damage and also requires all repairs be done at an Apple Store. If you break your phone more than once 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 12 month period also with a $100 deductible for any damage. 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 2 year coverage period, so similar to AppleCare+, you’ll be out of luck if your phone breaks more than once 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.

These phone insurance plans also only cover accidental damages and DO NOT cover Theft. With AppleCare, a theft coverage upgrade is available with a $250 deductible when your phone is stolen.

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 company: Asurion.

The upside to this is that Asurion has 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 plan they offer under their own brand name.

Most cell phone carriers provide the phone insurance plan ranging from $9 to $18 per month per device. If you have a newer expensive phone like an iPhone X, 11, or Samsung Galaxy S10, 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 $250. Deductibles will be cheaper for simple screen crack repairs, and much higher for more extensive damage, liquid submersion, or theft (if theft is covered at all). 

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’s repair network 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 per month without theft coverage and $11 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. 

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 2021: 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.

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 nearly ALL your 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, 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 most other plans, $99 for any claim on any item. (As low as $29 for some phone models) ~
With an AKKO Plan, the deductible for any claim is only $99 ($49 for students), whether Accidental Damage that’s a screen crack 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. $250+ 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

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

Gaming Devices and Systems: Monitors, Game Consoles, Custom Desktops, Peripherals (mice, keyboards, controllers), 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!

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

  • Cracked Screens
  • Spills & Liquid Submersion
  • Accidental Damage (like drops)
  • Damage & Malfunctions from Accidental Damage/Drops
  • Mechanical/Electrical Failures of components (for phones)
  • Theft & Vandalism
  • Theft of items from an unattended vehicle via forced entry (car break-ins)
  • Fire, Flood, & Natural Disasters
  • Power Surge by Lightning

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.

From electronics to music instruments and photography equipment and even sports gear. Once registered, you can select Any 25 of your belongings to load into your AKKO account that are eligible for protection. Plus, your items can be swapped out whenever you’d like.

Choose from:

Electronics:
Phones, laptops, tablets, smartwatches, TV’s, desktop computers, monitors, and more

Photography/Video equipment:
Cameras, lenses, accessories, tripods, gimbals, all other gear

Audio/Music Gear:
Speakers, electronic music instruments, DJ equipment, headphones, musical instruments, and other gear/peripherals

Gaming:
Videogame consoles, controllers, peripherals, VR, and more

Personal Transportation items (non-motorized):
Bikes, scooters, skateboards, hoverboards, unicycles

Sports/Recreational Gear:
Skiis, snowboards, surfboards, golf clubs, tennis rackets, camping/climbing equipment, and other sports gear and accessories

Clothing & Accessories:
Clothes, jackets, shoes, sunglasses, watches, jewelry, and more

Appliances (only counter-top):
Blenders, coffee makers, microwaves, juicers, etc.

School Supplies:
Textbooks, backpack, calculators, other educational tools and items

NOTE: All plans are per individual and will only cover items that the individual on the account owns (either purchased by them or given/gifted to them).  Plans cannot be shared with friends or family members. All plans may have up to (1) phone on them. To cover additional phones, select our family/multi-plan options!

Yes! An AKKO Plan will cover any phone you have.

If it’s a leased phone, you’ll still add your device’s info and photos of it to your account and can provide a copy of a recent bill showing your installment payment as a receipt for it.

There’s also no restriction on how old your phone is to add it to your coverage. Just add its info and pictures to your account.

For our best value “Everything Protected” AKKO Plans, which protect 1 phone per plan + 25 additional items on each plan, such as laptops, tablets, TVs, smartwatches, and more, you can do a family bundle here: REGISTER MULTIPLE AKKO PLANS

If you’re looking to protect only phones, check out our Phone-only multi-plans here: REGISTER MULTIPLE PHONE-ONLY PLANS

Our AKKO Plan protects 1 phone + 25 items. Each plan is meant for 1 individual and will only cover items that the 1 individual owns/uses. Plans cannot be shared with friends/family members. If a family member (such as a parent) is the one who purchased an item that is on a kid’s plan, that’s OK!

If you’re looking to protect multiple phones, you can register multiple AKKO Plans and mix/match between the Adult and Student rate plans. Perfect for families to be able to cover all their phones + all their other electronics and personal items!

For our best value “Everything Protected” AKKO Plans, which protect 1 phone per plan + 25 additional items on each plan, such as laptops, tablets, TVs, smartwatches, and more, you can do a family bundle here: REGISTER MULTIPLE AKKO PLANS

If you’re looking to protect only phones, check out our Phone-only multi-plans here: REGISTER MULTIPLE PHONE-ONLY PLANS

Our AKKO Plan protects 1 phone + 25 items. Each plan is meant for 1 individual and will only cover items that the 1 individual owns/uses. Plans cannot be shared with friends/family members. If a family member (such as a parent) is the one who purchased an item that is on a kid’s plan, that’s OK!

If you’re looking to protect multiple phones, you can register multiple AKKO Plans and mix/match between the Adult and Student rate plans. Perfect for families to be able to cover all their phones + all their other electronics and personal items!

The short answer:  because AKKO is using technology to make facilitating and managing protection for your stuff more efficient and cost less. Typical insurers charge really high fees on the insurance and protection plans you buy because of the work involved in processing policies and claims, as well as the cost to advertise and market the coverage to consumers.

At AKKO, we’re trying to change that so that customers can get great and affordable protection that’s simple and all-inclusive, instead of being taken advantage of by purchasing multiple protection plans and insurance for all the stuff they own individually.

AKKO is a startup! But we are indeed a legitimate and insured U.S. corporation with backing from an “A” Rated insurer.

AKKO was founded in 2018 initially approved for covering college students only with our unique protection plan that protects all of your eligible personal items for only one simple and affordable monthly fee.

After working with a few large college organizations, AKKO began the process to get the same amazing protection plan approved to sell to anyone.

At the start of 2020, we soft-launched our “Everything Protected” AKKO Plan! And now we’re trying to spread the word fast so people can start protecting the stuff they care about and rely on in an affordable and easy way.

We also added our Phone-only protection plans in November 2020 for those who are only looking for phone protection that’s simple and affordable.

AKKO’s primary focus is on making protection easy and pleasant for our members.

 

When accidents or theft happens, the last thing you as the customer should have to deal with is MORE negativity and frustration…

With AKKO, there are:

  • No hidden fees
  • No long lists of protection exclusions
  • No restrictions on how old the stuff is you want to protect (or whether you purchased it used)\
  • No long phone waits when you file a claim or need assistance
  • and no weeks or months long waits to actually get reimbursement for your losses…

We’re doing things different and are excited for you to try out our platform, get to know our company and team, and be able to say “Thank goodness I had AKKO…” when life’s bad and “oops” moments happen to you. 🙂

Learn more about us or reach out to chat or ask questions!

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 ($49 for students) 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 rather than the $150 – $400 deductibles seen on many other protections plans for phones, laptops, and other electronics and personal items.

If you have a phone-only protection plan, the limit of protection is capped at the replacement cost value of your phone at the time of your claim. This means that no matter what, you will always be covered to get an exact replacement of your phone (down to the same make, model, color, technical specs, and carrier). There is no limit on the number of claims you may file.

For our “Everything Protected” AKKO Plans ($15/month for adults, $12 for students) there is a protection limit of $2,000 PER INCIDENT** for all items besides your phone. There are no annual protection limits or a limit on the number of claims you may file. Additionally, all protection is still based on replacement cost value of your damaged/stolen items determined at the time of the claim.

**$2,000 of protection PER INCIDENT means that if next week on Monday your laptop is stolen, up to the replacement value of your laptop is covered as long as that amount is less than $2,000.

If at another point in the same year you drop your tablet and the screen is smashed, up to the repair or replacement value cost of the tablet is covered as well as long as it’s less than $2,000.

But, there is not an annual limit of $2,000 which would be exhausted in case replacing your laptop cost $1,800 and replacing your tablet had cost $500.

This demonstrates PER INCIDENT protection and the per incident limit with an AKKO Plan is $2,000. There is not an annual limit.

HOWEVER, if during a single incident someone steals your entire backpack, filled with your laptop, and tablet, up to $2,000 total is covered to replace those items and any other contents of your backpack, plus the backpack itself. So if the combined replacement cost was above $2,000 for all these items, you would only have coverage up to $2,000 to be reimbursed.

Higher PER INCIDENT protection limits are available!

Once you’re registered, you can upgrade your plan to a PER INCIDENT limit as high as $10,000. But for a more common $3,000 – $5,000 PER INCIDENT protection limit upgrade, it’s only a few more dollars per month 🙂

The $2,000 of PER INCIDENT protection is more than enough for the majority of users based on our studies and the claims rates of currently protected AKKO users nationwide. But for those with more expensive items like a high-end laptop, or specialty gear like photography or music/audio equipment, the option to upgrade your limit is easily available. Simply contact us via the “billing” section of your account and we can upgrade your limit.

—-

Other Limitations:

1. Coverage for jewelry, watches, rings, and other items consisting of gold, silver, or platinum or furs is limited $1,000.00 for any one Loss.

2. Coverage for bicycles is limited to $1,000.00.

3. Property in a personally owned automobile is covered, 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.

We re-state all this information under this separate Frequently Asked Question because sometimes users don’t click through all questions/answers and we want to make sure all prospective customers are fully informed 🙂

Automobile, motorcycle, boat, motor, aircraft or aircraft parts 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.

  1. 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.
  2. Reimbursement for bicycles is limited to $1,000.
  3. 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.
  4. Surfboards are protected for theft and damage due to mishandling on airlines, accidental damage from non-airline transportation or use/handling not included.
  5. 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.

NO. Unfortunately that’s not how protection plans work… 🙁

If you have any items that are currently broken (cracked phone screen, water damaged laptop, etc.) then you CAN NOT sign up and then file a claim to have those items fixed.

 

For an item to be eligible for protection, you must:

1) have an active plan with AKKO

2) have the item’s information uploaded to your account along with pictures of it in working and un-damaged condition. This means that you’ve taken photos of the item in accordance with all instructions within your account based on the item you are adding.

Then, if something happens to any of your items in the future, they’re protected!

However, if you do have an item that’s currently already damaged, sign up for either our Phone-only protection plan or our “Everything Protected” AKKO Plan now so that the next time some mishap happens, we’ll cover it!

Leave a Reply or Ask a Question

Table of Contents

Get Protection Today!

AKKO Plan

Accidental Damage & Theft Protection
$ 15
/month
  • Phone Protection plus way more!
  • Add 1 phone + 25 items
  • $29 - $99 Deductibles for phones
  • $99 Deductibles for all other items
  • $2,000 limit per claim*
  • Unlimited claims

About AKKO:

It’s Everyday Insurance.
We provide a protection plan to simplify covering all the items you use most and care about. From all your electronics including your phone and laptop, to photography and music equipment, bikes, skateboards, sports gear, clothes, shoes, and more!

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Table of Contents

Choose Plan:

Use Discount Code: NOFEE at Checkout for FREE Activation!

Use Discount Code: NOFEE at Checkout
for FREE Activation!

To sign-up for Student Plans, you can be any type of student, from middle school to high school, including incoming college student, current college student, or recent graduate. Students at any 2yr, 4yr, or graduate school are all eligible as well. Any age.

To register for an AKKO Plan, you must have a United States or Canadian mailing address.

Choose Plan:

(billed $120/yr)

(billed $168/yr)

Bundle Multiple AKKO Plans:

To sign-up for Student Plans, you can be any type of student, from middle school to high school, including incoming college student, current college student, or recent graduate. Students at any 2yr, 4yr, or graduate school are all eligible as well. Any age.

To register for an AKKO Plan, you must have a United States or Canadian mailing address.

Choose Plan:

Bundle Multiple AKKO Plans:

To sign-up for Student Plans, you can be any type of student, from middle school to high school, including incoming college student, current college student, or recent graduate. Students at any 2yr, 4yr, or graduate school are all eligible as well. Any age.

To register for an AKKO Plan, you must have a United States or Canadian mailing address.

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