Why pay for iPhone insurance plans since deductibles are so expensive?
The owner of this phone 6S here walked into my store the other day. Maybe you’re in the same boat. If you’re an owner of a broken iPhone and you currently have insurance, you’re probably frustrated at the high deductible replacement cost and still have a broken screen. What’s the point of even paying for iPhone insurance plans? It doesn’t seem to be saving me money.
You’re not entirely wrong about that premise; however, to me the number one most important reason insurance is if you’re iPhone gets lost or stolen. Deductible costs are far less than having to buy a brand new iPhone, and in most cases, less expensive than a refurbished one (unless it’s an older model…and who wants that?). Broken iPhones can be repaired. Stolen iPhones cannot.
How likely is it that someone will steal my iPhone?
According to Consumer Reports, 3.1 million Americans had their smartphone stolen in 2013. What does that mean put simply? 1 in 10 owners of smartphones fell victim to theft, and 68% of them never did recover their phones.
Let’s see if you can guess where smartphones are most prone to theft.
A. A public setting
B. An automobile or house
C. Right off the victim’s person
According to a study compiled in March 2014 by IDG Research, the most likely place a smartphone was stolen was “A” a public place. Now let’s see if you can guess the most common public place.
A. At work
B. A nightclub or bar
According to the same study, the most common place a smartphone was stolen was at “C” a restaurant.
The crazy part? Of those surveyed, the highest percentage of those smartphones stolen in restaurant were simply because the owner left their phone behind. That’s right. They forgot and left it behind. Take inventory when you go to leave a public place. Wallet? check. Purse? check. Keys? check. Cellphone? check.
There is some good news in these statistics because just last year, Consumer Reports reported, in a similar study, that smartphone theft lowered from the prior study in 2013. Only 2.1 million smartphone owners had their phones stolen in 2016 compared to 2013’s survey totaling 3.1 million.
The fact remains, there is still a 1 in 13 chance if you’re an owner of a smartphone, it will be stolen this year. Why? Because we’re forgetful. Yikes. One last piece of data that is important when deciding whether to insure your iPhone. In addition to the 2.1 million stolen smartphones, 3.1 million are reported lost each year. Both good reasons to insure your iPhone.
What’s the best insurance for my iPhone?
I’m glad you asked. Check back as I post a review of the top iPhone insurance providers. If you miss the post, go to my homepage and look under Product Reviews in the menu.
If you enjoyed this read, please leave a comment letting me know. If you have a question about iPhone insurance or repairs, I’d be happy to address these as well.
Thanks for reading, but before you go…grab your iPhone.