Smartphones have become a staple of modern life; fulfilling the role of a camera, phone, computer, personal digital assistant, multimedia platform, gaming device, and GPS mapping system in one, they are absolutely essential tools for navigating and managing the fast-paced day-to-day experienced by most Americans. Which is why it’s vital that you protect yours. Put simply, the reasons for doing so are abundant.

Insurance provides a means of protecting those assets which are most valuable to you: cars, personal belongings, homes, apartments, jewelry, and family heirlooms, among other things. Why then would you not also insure your phone, the device that you use most frequently, and for the greatest number of tasks, on a daily basis? The choice seems clear. If you use a smartphone on a daily basis โ€“ and if you’re like many Americans, you do โ€“ you may want to consider purchasing cell phone insurance. Below are some popular options.

SquareTrade

Available for purchase up to 90 days after buying your smartphone from a retailer (the window drops to 30 days for phones purchased from non-retailers, such as Ebay), SquareTrade insurance covers mechanical and electrical failures, as well as accidental damage, for two years. However, it should be noted that there is a deductible for each claim; for phones such as the Samsung Galaxy and other Android, Window and BlackBerry devices, this deductible is $99 while Apple iPhone owners will enjoy a lower $50 deductible. The cost for a two-year plan may vary from customer to customer but should fall in the range of $125.

Apple Care

If you own an Apple iPhone, then you can take advantage of Apple’s own internal insurance plan. Though it does not cover loss or theft, for just $99, the Apple Care plan provides two years of coverage for accidental damage, water damage, drops, mechanical and electrical malfunction, batteries (should they prematurely go out), and all associated service costs. As with other plans, there is a deductible of $49 for claims.

Geek Squad

A number of retailers provide cell phone insurance for devices like the Samsung Galaxy โ€“ one such retailer is BestBuy through its Geek Squad program. For two years of insurance coverage, customers can pay $10 per month for the allotted plan duration or one lump sum of $170. This plan covers accidental damage as well as electrical and mechanical malfunctions, but not loss or theft. However, because the insurance can be purchased directly from a retailer, many individuals will find it more convenient than other options.

Credit Card Insurance

For individuals who purchased their cell phone with a credit card, it’s possible to opt for insurance through their card provider. These extended warranties act like insurance, usually adding up to an additional year on the standard warranty provided by the phone manufacturer. However, one unique feature of credit card warranties is that some cover loss and theft for 90 days after the purchase date.

Mobile Rhino

What makes Mobile Rhino unique is that it covers everything: loss, theft, electrical and mechanical malfunctions, accidental damage, batteries, water damage, drops, and service costs. It is truly a comprehensive insurance plan that should satisfy your every need. For one year of coverage, smartphone users can expect to pay $129, plus an additional $99 deductible for any claims. Though this may seem expensive in comparison to other plans (which offer two years of coverage as opposed to one), it’s important to note that Mobile Rhino covers loss and theft. If you’re one of those individuals who routinely loses your phone, this may be the plan for you.

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