Many homeowners may be wondering if the homeowner’s insurance plan they purchased offered coverage for their smartphones and related gadgets. This is in comparison with some of the top-rated cell phone insurance policies that many consumers around the country have been looking at. Also, you should know that if you pay your cell phone bill with your Wells Fargo consumer credit card, you will get some protection.
Key Takeaways_
- Most homeowner’s and renter’s insurance plans will offer some coverage for smartphones.
- If you are burglarized and your phone is stolen or vandalized, an insurance plan should pay for repairs or replacement.
- Many plans also offer coverage for water damage and damage related to a natural disaster.
Does Homeowner’s Insurance Cover Smartphones?
Yes. A standard homeowner’s insurance plan will cover your cell phone as long as the scenario meets the same criteria as any other item of value in your home. Additionally, you can read our article on if renters insurance covers phone damage.
insider tip
A standard homeowner’s insurance plan will cover your cell phone as long as the scenario meets the same criteria as any other item of value in your home.
Homeowner’s Insurance and Renter’s Insurance Smartphone Scenarios
Phones tend to fall under the personal property category when it comes to homeowner’s insurance and renter’s insurance plans. This means that coverage will be offered to your phone when it meets qualifications pertaining to a scenario illustrated in your insurance plan under “personal property.”
Burglary and Theft
If someone breaks into your home and steals your smartphone, the costs of a replacement should be covered in your homeowner’s or renter’s insurance plan. The same rule will apply if someone enters your home illegally and vandalizes or damages your phone. To make sure you get an insurance payment quickly, keep all your receipts and documentation in reference to your smartphone.
insider tip
If someone breaks into your home and steals your smartphone, the costs of a replacement should be covered in your homeowner’s or renter’s insurance plan.
Water Damage
If your homeowner’s or renter’s insurance plan offers coverage for water damage pertaining to pipe malfunction and the like, then that coverage should extend to your smartphone. Some insurance plans do not offer coverage for water damage, so be sure to read the fine print before purchasing a plan. Additionally, you may want to call your current plan provider to ensure they offer coverage for water damage. And if you have a cell phone insurance cover, it is best you understand whether or not the cover extends to water damage.
STAT: A standard homeowners policy has a deductible that’s typically 1% of the home’s value. (source)
Natural Disaster Coverage
If your smartphone is damaged or destroyed during a natural disaster, then your homeowner’s or renter’s insurance plan should pay for the repair costs or for a full replacement phone. Most insurance plans offer coverage for a number of natural disasters, including windstorms, hail, fires, blizzards, and lightning. If you are looking to ensure your smartphone will be covered in the event of one such disaster, be sure to note your phone as an item of personal property when purchasing the plan.
warning
To make sure you get an insurance payment quickly, be sure to keep all of your receipts and documentation in reference to your smartphone.
What is Not Covered
If you damage or lose your phone while not at home, then your insurance plan will likely not cover repair or replacement costs. Additionally, not every natural disaster is covered by many homeowners’ and renter’s insurance plans. For instance, many plans do not offer coverage for earthquakes, floods, or mudslides. Lying about such cases can be classified as cell phone insurance fraud. Be sure to read the fine print.
