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How to Get Free Cell Phone Insurance With Your Credit Card
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Jan 29, 2020
FREE CELL PHONE PROTECTION: You don't have to pay for cell phone insurance! There are several popular credit cards that offer cell phone protection and will pay to replace your stolen or damaged cell phone. In this video, learn about this valuable credit card perk and the best credit cards that offer it! In this video: 0:23 How credit card cell phone protection works 1:52 Which credit cards offer it? 3:34 Important! Credit card cell phone insurance fine print Links mentioned in video: 3 best credit cards with free cell phone protection: https://michaelsaves.com/credit-cards/best-credit-cards-cell-phone-protection/ Best rewards credit cards: My top 5 picks! https://michaelsaves.com/credit-cards/best-cash-back-credit-cards/ Visible by Verizon Wireless: 9 things to know before you sign up: https://michaelsaves.com/save-money/visible-customer-review/ WANT MORE MONEY-SAVING TIPS? GET MY MONTHLY NEWSLETTER: https://mailchi.mp/a36c20b3255d/michaelsaves
View Video Transcript
0:00
you know you don't have to pay for
0:01
cellphone insurance from your wireless
0:04
provider you may be able to get it for
0:06
free by using the right credit card hey
0:09
I'm Michael from Michael safecom and in
0:11
this video I'm going to explain how free
0:14
cell phone protection works the best
0:16
credit cards that offer it and some
0:18
details that you need to know about the
0:21
fine print let's get started first let's
0:23
talk about how cell phone protection
0:25
from a credit card issuer actually works
0:28
because not all credit cards have this
0:30
benefit and even those that do some are
0:33
better than others there are two numbers
0:35
I want you to remember 625 and here's
0:38
why because the best free cell phone
0:40
protection policies offer up to six
0:43
hundred dollars in protection after a
0:45
twenty five dollar deductible and that's
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six hundred dollars that's when your
0:49
phone is either damaged or stolen it
0:52
does not cover it when your phone is
0:54
lost now some of those policies that you
0:57
may get through your cell phone provider
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they may cover when phones are lost but
1:04
the cell for protection that you get
1:06
from a credit card typically does not
1:08
that's what you'll want to read in the
1:09
fine print and I'll have more about the
1:11
fine print later on in this video so if
1:13
you have one of these credit cards that
1:15
offers up to six hundred dollars in
1:17
protection with the twenty five dollar
1:18
deductible the way to make this coverage
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active is to pay your monthly cell phone
1:24
bill using your credit card that has
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this benefit this doesn't mean that you
1:29
have to charge your cell phone the
1:31
actual device using the credit card just
1:34
your monthly cell phone bill so what I
1:36
do is I have my credit card auto pay set
1:40
up for my cell phone bill so I know that
1:42
the coverage will never lapse because
1:44
every month I'm paying my cell phone
1:46
bill using a credit card that offers
1:49
cell phone protection so now let's talk
1:52
about some of the credit cards that
1:54
actually offer this benefit because as I
1:57
mentioned not all of them do but if you
2:00
have a Wells Fargo credit card in your
2:02
wallet chances are you've got free cell
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phone protection as long as you pay your
2:06
a cell phone bill with that credit card
2:08
every single month and the card I use is
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the Wells Fargo propelled
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is an American Express card and I like
2:15
it for a few reasons besides the free
2:17
cell phone protection it has a nice
2:19
signup bonus also great rewards on
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travel dining out and streaming services
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as of this video and it comes with no
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annual fee now if you don't have a Wells
2:32
Fargo credit card already and just don't
2:34
want to do business with that Bank
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there's a chance that your existing
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credit card issuer may also offer this
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protection so what I'm going to say to
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you go to their website check to see if
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you get free cell phone protection with
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one of your current credit cards before
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you go out and apply for a new one the
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first time that I heard about this
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benefit I actually did apply for a
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credit card just for the cell phone
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protection because I don't want to pay
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ten to fifteen dollars a month from my
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wireless provider for cellphone
3:01
insurance and when I did that I started
3:04
with the uber Visa card that card still
3:06
as of January 2020 does offer these cell
3:10
phone protection but it has undergone
3:12
some changes to its rewards program that
3:14
make that card not such a great fit for
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me that's why I moved over to the
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American Express propel it's just a
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better credit card overall for my
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lifestyle and it has the free cell phone
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protection benefit so check with your
3:26
current credit card issuer before you
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take out a new card you may already have
3:30
this free cell phone protection and we
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have to talk about the fine print
3:35
because I mentioned at the top this cell
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phone protection from your credit card
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issuer not identical to what you would
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get from a wireless provider I think
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it's worth it myself but you're gonna
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have to make that decision I want to
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read some of the fine print from Wells
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Fargo because as I mentioned in this
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video that's who I use for the free cell
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phone protection here are some of the
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key points that you need to know first
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this protection reimburses you when your
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phone is damaged or it is stolen not
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when your phone is lost some of those
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policies from cell phone providers do
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include protection if your phone is lost
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also we're talking about $600 maximum
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per claim with the twenty five dollar
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deductible up to 1200 dollars in a
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12-month period in total protection the
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protection is only available when you
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pay your cell phone bill whittling
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credit card so you have to make sure
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that your credit card is eligible and
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then pay your cell phone bill with it
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every single month something else that I
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saw here that caught my eye is it says
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that coverage does not apply to cell
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phones that are rented borrowed or
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received as part of a prepaid plan so
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when I saw that I was like wait I have a
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prepaid cell phone provider currently
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I'm with visible and I pay $25 a month
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for unlimited service I have a separate
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video with a review on them if you're
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interested in lowering your overall cell
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phone bill but that's a prepaid carrier
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so I wondered well am I not protected
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what I did is I use the 800 number to
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call Wells Fargo there's a special
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department that has experts in this cell
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phone protection and they said that I am
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covered that I have nothing to worry
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about when they're talking about these
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prepaid plans it is more of those pays
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you go phones that you might find at a
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store like a Dollar General or something
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like that so you want to go through the
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terms and conditions make sure that
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you're eligible for this coverage and
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another thing about it though is that it
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is secondary coverage so if you have
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coverage with a wireless provider or
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another type of insurance policy
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homeowners rent or something like that
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this free cell phone protection isn't
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going to kick in until all of that
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coverage is exhausted so really it is
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best for people like me who don't have
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any sort of primary policy then this
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becomes the policy that goes into effect
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when your phone is either damaged or
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stolen so if you're able to take
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advantage of free cell phone protection
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from your current credit card issuer or
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take out a new credit card this can
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really save you a lot of money those
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monthly charges from a wireless provider
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for cell phone insurance that adds up to
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between 120 and 180 dollars a year
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typically wouldn't it be nice to keep
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that money in your pocket another thing
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you can do to protect your cell phone
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get a good cell phone case right these
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are cheap they only cost between ten and
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thirty dollars I've had a cell phone for
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more than fifteen years and I've never
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had a shattered screen it's a simple
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measure that you can take buy a good
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case protect your cell phone and use
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that free self from protection if it is
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available to you
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if you want to learn more about credit
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cards I've got lots more information
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including some personal recommendations
6:45
in the description below and you can
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learn about more ways to save money on
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my blog
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Michael safecom keep watching Michael
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Saves and I'll see you next time right
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here on YouTube
6:54
thanks for watching
#Credit Cards
#Insurance
#Mobile & Wireless