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How to Choose an Insurance Plan for Your New Smartphone

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For one, it's important to read the terms and conditions of your insurance plan.

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Deductibles, Premiums, and Claims

The last things you should consider when picking your insurance is the deductible, the premium, and the maximum number of claims allowed under the plan.

The premium is the price you are paying for the insurance and the price will vary based on what is covered, who is covering you and the length of the coverage.

Some, like your cellular provider, charge your cellular bill monthly, while other insurers make you pay for the insurance upfront.

If you ever need to make a claim, each insurance plan makes you pay a fee, known as a deductible. Deductibles can range wildly from as low as $49 to as high as $199, plus sales tax.

Plans that cover loss or theft usually have the highest deductible, for obvious reasons.

Additionally, each plan limits the number of claims you can make. Some limit you to two or three claims per year, while others limit you to two or three claims for the life of the insurance contract.

So if you are particularly accident prone, you should go with a plan that allows you to make as many claims as possible.

Also, some plans limit the total dollar amount spent on dealing with your claims, regardless of the number of claims you file.

Lastly, some plans make you wait 30 days from the time you pay for the plan until it becomes active. For those that are particularly paranoid, look for plans where the coverage starts immediately.
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