10 Smart Reasons to Buy Optional Insurance for Your Mobile Phone

 Are you scared of losing losing your beautiful smart phone?
Chances are, your cell phone is your lifeline in more ways than one. If it’s lost, damaged or stolen, you are out of luck and out of a phone, not to mention the loss of your contacts, data and apps. Luckily, there is always the option of insuring your mobile phone, but the small monthly fee is off-putting to many consumers. Depending on what provider you go through, you could have total peace of mind no matter what happens to your phone. These are ten of the reasons why you might want to think twice before declining that device insurance offered through your service provider.

1. Replacement – One of the key reasons for purchasing insurance for your phone is that you will receive a new phone immediately if something goes wrong. It may be a refurbished phone, but it should be restored to good-as-new factory settings. In some instances, the insurance company will provide a new phone. In either case, it should be the same model as the one you owned previously for a small deductible charge.
2. Covers Cost of Fixing – If your phone is damaged but is not beyond repair, having insurance on it will cover the cost to fix it. In the event that it is beyond repair, they will replace the phone or give you cash in the amount of its replacement value. Damage can be anything from accidentally dropping the phone to it flying off the roof of your car as you drive away; no matter what you've done to your phone, optional insurance will usually pay to repair it.
3. Extends Your Warranty – In some instances, the insurance provider will extend the warranty that came with your phone. So, instead of being covered for one year, you may be eligible to be covered for two or more.
4. Data Recovery – In the event that the screen no longer works or that your memory card becomes damaged, insurance providers will recover the data if possible. In some instances, this is impossible, so do not rely too heavily upon it. Also, it goes without saying that if the phone is lost or stolen, recovery of data will not happen unless you've backed that information up in the cloud or on your computer.
5. Buy-Back Coverage – At the end of your term of service, some insurance companies will buy back your phone for whatever value the market has put on it after a few years of service. This money can either be taken as cash or can go toward the purchase of your new phone.
6. Peace of Mind – Is the peace of mind that comes with the insurance worth it to you? This is something you should ask yourself before purchasing optional insurance for your mobile phone. When a phone is lost, damaged or stolen, it can be a stressful and frustrating time. So, give yourself the peace of mind by knowing it will be taken care of with your insurance.
7. You Have Children – If you have kids, you should automatically spring for the optional insurance based solely on the fact that children are fascinated with cell phones, but aren't always gentle with them. Your kids will inevitably get their hands on your phone while you're not looking, and it's always smart to have an extra layer of protection when that happens.
8. Cell Phones are Expensive – When things are expensive, the thought of insurance often crops up. Why should it be different with cell phones? They are an expensive commodity and should be protected. You insure your house and your car, and your cell phone can have almost as much value in some respects.
9. It’s a Fairly Cheap Way to Be At Ease – For the most part, optional insurance for your mobile phone is not expensive. Many carriers offer it for less than $10 a month. If you go through your carrier, it is added to your regular monthly bill and you’ll never have to think twice about it.
10.  Covers Water Damage – Most warranties do not cover water damage. That’s where optional insurance steps in and saves the day. Phones can fall into bathtubs, puddles, drinks or be left in the pocket of a pair of pants headed for the washing machine. When taking photos with a phone, it can be dropped in a swimming pool or ocean. You can protect yourself against the stress of this happening by getting insurance for your phone that covers water damage. The insurance company won’t ask questions, they’ll simply replace your phone or give you the money needed to replace it.

While it may seem counter-intuitive to spend more money on your cell phone bill each month, you may actually find that it's an investment that pays off in the long run. It may save you time, money and headaches. Just be sure to read the fine print so you know exactly what is covered and what is not, that way there are no surprises when your phone ends up in the fish tank or on a deserted highway