No matter how we try to take care of our things, there comes a time when they break. The same goes for smartphones. Unlike breaking your favorite mug or pair of sunglasses, a stolen, broken, or lost smartphone causes more than just a small inconvenience.
Now, you might be wondering, should you get mobile insurance? Or is it just another unnecessary expense?
In this post, we talk about Verizon’s phone insurance coverage. Its device protection can help you in case it gets damaged, stolen, lost, or becomes defective once the manufacturer warranty expires. Verizon insurance covers minor or major repairs that could turn into a costly expense later on.
What Is Included in Verizon Insurance Coverage?
Verizon insurance and data protection cover battery failure, physical damage, theft, mechanical problems encountered outside the warranty duration, loss, and theft. Each plan offered by Verizon allows customers to file up to three claims within 12 months.
What Are the Types of Insurance Coverage Verizon Offers?
Verizon offers a wide range of device protection options. With the available Verizon insurance plans you can choose from, you’ll surely find the right solution for you.
1. Verizon Protect
Verizon Protect is comprehensive coverage that offers security, device protection, and support for your devices and personal data. It provides identity theft monitoring, Wi-Fi security and protection, security and privacy, support from tech experts, and identification of unknown phone numbers. It is offered only for New York customers. Those who live outside New York can protect their device using Verizon Mobile Protect.
Verizon Protect covers:
- Set up for lost, stolen, or damaged devices
- Same-day replacement
- Cracked screen repairs
- Battery replacement
Verizon Protect Multi-Device may be a better option than Verizon Protect for every individual line if you want to file a claim for any line listed under your account. You’ll have access to 9 shared claims across 3 devices registered in your account. Security and privacy, technical support, Wi-Fi security, and spam call filtering are offered to all eligible devices, up to 10 lines.
2. Verizon Mobile Protect
Verizon Mobile Protect offers protection for device theft, loss, and damage as well as post-warranty defects.
Other key benefits include:
- Same day delivery for eligible replacement smartphones
- Set up for new device purchased on Verizon.com
- Battery replacement
- Tech support
- Device refresh to boost the performance, speed, and battery life of your device.
Verizon Mobile Protect Multi-Device covers 3-10 lines on your account with eligible devices.
3. Total Equipment Coverage
Verizon Total Equipment Coverage offers protection for damage, theft, loss, and post-warranty malfunctions. It includes fast and unlimited cracked screen repair and battery replacement. Unfortunately, it doesn’t cover prepaid accounts and isn’t offered to Florida customers.
4. Wireless Phone Protection
Wireless Phone Protection is offered for Florida customers only. Loss, theft, physical and water damage are covered. This Verizon wireless insurance offers next-day device replacement and unlimited cracked screen repair. Your device won’t be covered if it experiences defects after the warranty has expired.
5. Verizon Extended Warranty
With an extended warranty, mechanical or electrical malfunctions due to a manufacturing defect can be covered even if the warranty has already expired. Expedited shipping is offered for Verizon insurance phone replacement devices. However, this type of insurance plan doesn’t cover damaged, stolen, or lost devices. Meanwhile, battery replacement is offered but only in select locations.
6. Mobile Secure
Mobile Secure is a premium coverage that offers various benefits, including privacy and security, tech support, performance checks, and device optimization. It is offered for a single device registered under your mobile line.
You already have Mobile Secure and Mobile Secure Multi-Device coverage if you have enrolled in Verizon Verizon Mobile Protect or Verizon Mobile Protect Multi-Device. If not, you can enroll in this coverage anytime as long as you have a standard Verizon mobile account.
7. Verizon Home Device Protect
Verizon Home Device Protect covers eligible home offices, smart home products, home entertainment, and wearables. It provides repairs and replacement for a service fee of $49 or $99 when a claim is filed. 24/7 technical support is offered as well as in-home visits and digital security.
The common home electronic products that are covered include flat-screen TVs, desktops/laptops, home theatre systems, printers, routers, gaming consoles, and DVD/Blu-ray players.
Comparison Chart of Verizon’s Device Protection Options
| Type of Plan | Verizon Mobile Protect | Verizon Mobile Protect Multi-Device | Total Equipment Coverage | Wireless Phone Protection | Verizon Extended Warranty | Mobile Secure |
| What is Covered | ||||||
| Loss, theft and damage | ✔ | ✔ | ✔ | ✔ | n/a | n/a |
| Post-warranty defects | ✔ | ✔ | ✔ | Only for Florida Customers | ✔ | n/a |
| Delivery, Activation, Setup and Replacement | ||||||
| Cracked screen repair | ✔ | ✔ | ✔ | ✔ | n/a | n/a |
| Battery replacement | ✔ | ✔ | ✔ | Only for Florida Customers | ✔ | n/a |
| International Benefits | ||||||
| Expedited International Fulfilment Options | ✔ | ✔ | ✔ | ✔ | n/a | n/a |
| Verizon Extended Warranty | ||||||
| Verizon Extended Warranty | ✔ | ✔ | ✔ | n/a | ✔ | n/a |
| Support, Digital Security, and Privacy Tools | ||||||
| 24/7 Tech Coach expert support | Offered to all registered devices on the account | ✔ | n/a | n/a | n/a | ✔ |
| 24/7 Security Advisor experts | ✔ | ✔ | n/a | n/a | n/a | ✔ |
| Digital secure & privacy feature | ✔ | ✔ | n/a | n/a | n/a | ✔ |
The Basics of Verizon Device Protection
| Type of Plan | Verizon Mobile Protect | Verizon Mobile Protect Multi-Device | Total Equipment Coverage | Wireless Phone Protection | Verizon Extended Warranty |
| Monthly Charge | $14 – $17 depending on the type of smartphones | $50.00 | $8.40 – $11.40 | $4.25 – $7.25 depending on the device | $4.15 per device |
| Covered Devices | Your device and its standard accessories are covered. You may receive new, remanufactured, or refurbished devices with original or non-original replacement parts included. You may or may not be given a replacement device that has the same color as the original one. | Your device and its standard accessories are covered. You may receive new, remanufactured, or refurbished devices with original or non-original replacement parts included. You may or may not be given a replacement device that has the same color as the original one. | Your device and its standard accessories are covered. You may receive new, remanufactured, or refurbished devices with original or non-original replacement parts included. You may or may not be given a replacement device that has the same color as the original one. | Your device and its standard accessories are covered. You may receive new, remanufactured, or refurbished devices with original or non-original replacement parts included. You may or may not be given a replacement device that has the same color as the original one. | Your device and its standard accessories are covered. You may receive new, remanufactured, or refurbished devices with original or non-original replacement parts included. You may or may not be given a replacement device that has the same color as the original one. |
| Claim Limit | 3 claims(max of $400-$3,000 per claim) within 12 months | 9 claims for 3 registered lines(max of $400-$3,000 per claim) within 12 months | 3 claims(max of $400-$3,000 per claim) within 12 months(max of $400-$3,000 per claim) within 12 months | 3 claims(max of $400-$3,000 per claim) within 12 months(max of $400-$3,000 per claim) within 12 months | No Limit |
| Deductibles | For non-New York Customers Deductibles for replacement – $19/$129/$189/$229/$249, depending on device Cracked screen repair – $29 per approved claim For New York Customers Deductibles for replacement – $9/$99/$149/$199/$249, depending on the device Cracked screen repair – $29 per approved claim | For non-New York Customers Deductibles for replacement – $19/$129/$189/$229/$249, depending on device Cracked screen repair – $29 per approved claim For New York Customers Deductibles for replacement – $9/$99/$149/$199/$249, depending on the device Cracked screen repair – $29 per approved claim | For non-New York Customers Deductibles for replacement – $19/$129/$189/$229/$249, depending on device Cracked screen repair – $29 per approved claim For New York Customers Deductibles for replacement – $9/$99/$149/$199/$249, depending on the device Cracked screen repair – $29 per approved claim | For non-New York Customers Deductibles for replacement – $19/$129/$189/$229/$249, depending on device Cracked screen repair – $29 per approved claim For New York Customers Deductibles for replacement – $9/$99/$149/$199/$249, depending on the device Cracked screen repair – $29 per approved claim | For non-New York Customers Deductibles for replacement – $19/$129/$189/$229/$249, depending on device Cracked screen repair – $29 per approved claim For New York Customers Deductibles for replacement – $9/$99/$149/$199/$249, depending on the device Cracked screen repair – $29 per approved claim |
What is the Cancellation Policy?
Your device protection coverage will renew automatically every month and will be billed to your wireless account. You may cancel your policy anytime and get a prorated refund for the monthly fee of your chosen policy.
FAQs on Filing Verizon Phone Insurance Claims
1. How do you file a claim for your device?
You need to be the account owner or account manager (person given permission by the account owner to make changes on the account).
You need to have your Verizon Account PIN.
For stolen, lost, or damaged phones, you can file a claim through:
- Asurion’s website and file a Verizon claim.
- Hotline number (888) 881-2622
- Verizon app
For device malfunction during or after the warranty period, you can:
- Check if you’re eligible to have your device repaired
- Contact Verizon
- If you’re from Florida, you can file a Verizon claim or call hotline number (888) 881-2622 if your device is malfunctioning due to electrical or mechanical failure after the warranty period.
2. What are the signs of a damaged or malfunctioning device?
Physical damages to your device include cracks or drops, liquid damage, and excessive wear and tear. Meanwhile, a malfunctioning device involves electrical or mechanical failure that may be caused by a manufacturing defect.
3. How do you know if your device is insured or has device protection?
If you don’t know whether you’re device is covered or has device protection, you can visit Verizon’s Add-ons and Apps page.
4. What is your deductible when you file a Verizon insurance claim?
A deductible refers to the amount you have to spend before your insurer pays for a part or all of your claim. Your Verizon deductible will depend on your device or model type. It also applies only for damaged, stolen, or lost claims. You can check the deductibles per device type on the website.
5. What device will you receive if you ask for a replacement?
Asurion may give you a new or refurbished replacement if your device got damaged, stolen, or lost. For battery malfunction and other device malfunction claims, you may receive a Certified Like-New Replacement.
Conclusion
Getting mobile insurance can be a big help for minor and major phone damages that could turn into big expenses. Weigh your options and see what fits best your needs. If you tend to break your phones in the past, it’s best to consider Verizon phone insurance coverage.
Aidan has been writing about personal finance for over 6 years. Prior to this, he worked as a Corporate Finance Analyst where he specialized in Due Diligence, Company Valuations and more. He is a CFA charterholder.
