Verizon Phone Insurance Overview
With 121.3 million subscribers, according to its 2Q 2021 Earnings Conference Call Webcast
, Verizon is currently the largest wireless carrier in the United States. While it’s unclear precisely what proportion of its customers pay for Verizon insurance and device protection, many smartphone owners who do are spending over $200 annually for the privilege.
Verizon charges these customers every month unless they cancel, with the amount billed directly to their Verizon accounts. Yet, many customers don’t realize they’re overpaying significantly for warranty coverage. Furthermore, Verizon’s phone insurance and device protection services suffer from a number of limitations.
For example, despite paying hundreds for coverage, Verizon customers must also pay a deductible of up to $249
when making a claim. At the same time, Verizon limits claims to three per year. So, what happens if Verizon phone insurance customers find themselves having more than three mishaps in a given 12-month period? In this instance, even though the customer paid $200 or more for protection, they don’t have protection.
Because of the high costs, customers should avoid purchasing Verizon phone insurance.
Verizon Phone Insurance Cost
Verizon charges its subscribers $17 per month for insurance and device protection on smartphones like the Samsung Galaxy and Apple iPhone. That’s $204 annually. So, should a Verizon phone insurance customer make the maximum of three permitted claims in one year, they’ll pay a total of over $950 ($204 + $249 + $249 + $249).
That’s over 70 percent more than customers are likely to pay for coverage elsewhere.
, for example, a two-year extended warranty with accident protection for the latest Apple iPhone 12
costs $105.99. That’s just $52.99 per year
, or less than $4.50 monthly — equivalent to a 73 percent saving compared to the cost of coverage from Verizon.
What’s more, claims with Upsie are unlimited up to the purchase price of the phone, and customers pay a fixed deductible of only $75. Accordingly, an Upsie user making three claims would pay just $277.99 over the course of a year, coverage included. In comparison, Upsie saves customers over $670 compared to a Verizon warranty.
Other Reasons Not to Buy Verizon Phone Insurance
High prices and limited claims aren’t the only downsides to Verizon phone insurance and device protection. Several other serious limitations also exist, including the use of non-original replacement parts during repairs. In fact, this is just one of many issues reflected in thousands of online reviews for Verizon phone insurance and its underwriter, Asurion
Refurbished Replacement Smartphones
Customers paying hundreds of dollars per year for Verizon phone insurance are likely to expect a new replacement device if the worst happens and Verizon cannot repair the phone. The truth is, Verizon is perfectly open about the fact that they may refurbish or remanufacture replacement devices.
Worse still, they may contain non-original replacement parts
, and features and various other options aren’t guaranteed for replacement devices either.
Asurion Underwrites Verizon Coverage
Verizon’s smartphone insurance and device protection services are underwritten by Asurion
. Asurion also provides insurance packages for T-Mobile customers and shoppers at big-box retail stores, including Walmart, Staples, and Home Depot.
In addition, Asurion issues refurbished or remanufactured replacement smartphones. Consumers also criticize Asurion on various other fronts. Nowhere is this more apparent than in the 2,000 or more complaints currently listed on the company’s Better Business Bureau page
Verizon Phone Insurance Customer Reviews
Many Verizon subscribers have also taken to other platforms to complain about the service, often focusing on the brand’s insurance and device protection offering. As a result, Verizon is rated ‘Bad’ by the leading consumer review website, Trustpilot, based on over 2,100 reviews
Ex-employees have also spoken out
less than favorably, particularly regarding Verizon’s phone insurance plans and coverage.
Switch From Verizon to Upsie
Coverage with Upsie boasts numerous benefits in terms of cost and unlimited claims (up to a smartphone’s purchase price). Further perks include comprehensive protection against manufacturing defects, screen cracks, drops, and spills. In addition, Upsie also covers battery, power, touchscreen, camera, audio, Bluetooth, and Wi-Fi failures. With an Upsie warranty, users can expect:
- Clearly outlined coverage
- Low, competitive prices
- Customer claims services available 24/7
After buying a qualifying product, purchase an Upsie warranty by uploading a picture or copy of a device’s receipt to Upsie’s easy-to-use website or smartphone app.
Visit Upsie.com or download the Upsie app
to get started.
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