Last Updated on October 21, 2026 by Syed Sarim Naqvi
Phone insurance is a monthly device protection plan, from the manufacturer, your carrier or a credit card benefit, that pays for damage, loss or theft that warranties do not, and plans typically cost $7 to $25 a month plus a deductible that can reach $249 for a lost phone. The catch is the true cost: PIRG estimates many plans come to $300 or more a year once premiums and deductibles are added, which can exceed the price of the repairs they cover.
Key Takeaways
- AppleCare+ with Theft and Loss runs about $9.99 to $13.99 a month depending on the iPhone, while Verizon Mobile Protect costs $16 to $19 a month per line
- Typical deductibles are $29 for AppleCare+ screen repairs and about $99 for most carrier claims, with theft or loss reaching $149 (AppleCare+) to $250 to $275 (carriers)
- PIRG’s four-year example: $1,011 with a $19-a-month carrier plan versus $245 paying for a screen and a battery replacement out of pocket
- Many credit cards offer free phone protection if you pay your wireless bill with the card, for example up to $800 per claim in one summary
- AppleCare+ includes two theft and loss claims per year; many carrier plans offer unlimited damage claims
What Is Phone Insurance?
PIRG describes phone protection plans, also called phone insurance or device protection, as service agreements covering damage, loss or theft that manufacturer warranties typically do not, offered by wireless carriers, credit card companies and retailers. Insurify explains that Verizon’s plans are administered by Asurion, a third party, and BGR notes T-Mobile uses Assurant. BGR also says repairs without a plan can cost at least $150 for a broken screen or back glass and up to $750 for other accidental repairs.
How Do AppleCare+ and Carrier Plans Compare?
Insurify lists AppleCare+ from $10 a month or $100 a year, AppleCare One at $20 a month for three devices, and Verizon Mobile Protect at $16 to $19 a month with multi-device plans from $38 to $68. BGR reports AppleCare+ with Theft and Loss starts at $99.99 a year or $9.99 a month and reaches $139.99 or $13.99 for pricier phones, and that AppleCare is generally more affordable monthly, nearly half the price of carrier plans in some cases. Carrier plans cover more scenarios but come with higher deductibles, per Gerald.
| Option | Monthly Cost | Deductibles |
|---|---|---|
| AppleCare+ with Theft and Loss | $9.99 to $13.99 | $29 screen, $149 theft or loss (Gerald) |
| Carrier plan (AT&T, Verizon, T-Mobile) | $7 to $25 | About $99 most claims; $250 to $275 theft or loss |
| Credit card protection | No extra fee if you pay the bill with the card | Varies, $25 to $50 in one summary |
| No plan | $0 | You pay repairs or replacement |
What Is the True Cost?
PIRG says many plans cost $300 or more a year including premiums and deductibles, and gives a four-year example: a $19-a-month Verizon plan costs $912 in premiums plus a $99 battery deductible, or $1,011, while paying for one screen replacement at about $153 and a battery at about $92 totals $245 according to Swappa, a difference of $766. It notes that the cost of a battery replacement without a plan is likely less than the annual plan cost. Insurance can make sense for accident-prone users: BGR says AppleCare can save hundreds compared with $150 screen repairs and up to $750 for other repairs.
What About Credit Card Protection?
PIRG says many credit cards offer complimentary phone protection if you pay your monthly phone bill with that card. Gerald lists credit card protection at no additional cost, with a deductible that varies and theft or loss covered up to $800, though it names Chase Sapphire and Capital One cards as examples, so check your own card’s terms. A technology guide notes there are two ways cards can provide cover, so read the benefits guide before buying a plan.
What Should You Check Before Buying?
- Total cost: premiums plus deductibles across the years you keep the phone
- Theft and loss: whether it is included and how many claims per year
- Deductibles: screen, other damage and loss
- Existing cover: credit card benefits and home or renters policies
- Timing: some plans must be bought within a window, such as 60 days after purchase
How Does This Connect to Other Cover?
Another optional protection product is in Extended Car Warranty Explained, and a home equivalent in Home Warranty vs Homeowners Insurance Explained. Personal belongings are covered in Renters Insurance Explained, and fraud risks in Identity Theft Insurance Explained.
FAQ
Is phone insurance worth it?
PIRG says many plans cost more than the repairs they cover, though it can pay for accident-prone users.
How much does it cost?
About $7 to $25 a month plus a deductible, depending on the plan and phone.
What is AppleCare+ with Theft and Loss?
Apple’s plan, from about $9.99 to $13.99 a month, with two theft and loss claims a year.
Does my credit card cover my phone?
Many do if you pay your wireless bill with the card.
What are the deductibles?
About $29 for AppleCare+ screens and $99 for most carrier claims, with higher amounts for theft or loss.
Who administers carrier plans?
Asurion for Verizon and AT&T, and Assurant for T-Mobile.
Can I pay for repairs instead?
Yes; BGR cites at least $150 for a screen and up to $750 for other accidental repairs.
Glossary
- Device protection plan: a paid plan covering damage, loss or theft of a device.
- Deductible: the fee you pay per claim.
- AppleCare One: Apple’s multi-device protection plan.
- Asurion: a company that administers carrier protection plans.
- Cell phone protection benefit: a credit card perk covering your phone.
Sources
- PIRG: Are Phone Protection Plans Worth It? (true cost, $1,011 vs $245, credit card benefits)
- Insurify: AppleCare vs Verizon Insurance (plan prices, Asurion, deductible)
- Insurify: Verizon Mobile Protect vs AppleCare (claims limits, $99 deductible)
- Gerald: iPhone Insurance Plans Compared (deductibles, credit card protection)
- BGR: AppleCare vs Carrier Insurance (2026 pricing, repair costs, administrators)
- Techlicious: Choosing the Best Insurance for Your Phone (credit card cover, carrier options)
Related reading: Umbrella Insurance Explained · Safe Deposit Box Insurance Explained · E-Bike Insurance Explained
Published October 2026. Prices and plan terms vary by provider and change often; always read the deductibles, claim limits and credit card benefits, and refresh this article periodically.
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