Experts Say These Two Insurance Policies Are Essential.mp4

Pennygem

Phone insurance options were limited up until recently, when credit card companies started to get in on the action. Here are a few things to keep in mind about this. PennyGem’s Johana Restrepo has more.

Transcript

00:00our cell phones might as well be a part of our bodies these days almost everyone has broken

00:08their screen or phone entirely at least once and felt that moment of panic because mobile phones

00:14especially smartphones are not cheap as a result a lot of people wait more than three years to

00:21replace their phones according to nerd wallet phone insurance options were limited up until

00:26recently when credit card companies started to get in on the action companies like mastercard

00:31american express and even retail cards are offering these perks you just have to get the right card

00:38most of the time you'll have to do things like pay your bill with the credit card pay a deductible of

00:44anywhere between 25 and 50 and file paperwork keep in mind that some cards don't cover lost phones

00:52just damaged or stolen phones according to business insider some damage like a cracked screen

00:58isn't always covered either before opening a credit card account that offers smartphone coverage

01:04read the terms and conditions and make sure their policy works for you

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