Before You Lose Your Cell Phone…

Have you ever lost your cell phone? Well, you are definitely not alone. A leading cell phone insurance company reports that each year, approximately 25% of cell phone owners report their cell phones lost, stolen, or damaged. If you have ever experienced this potential nightmare, then you understand the value of planning ahead.

If your cell phone is lost, the first thing that you need to do is contact your cell phone company and suspend your service immediately. This is extremely important, as you are responsible for any charges incurred on your phone, whether it is in your possession or not, until service is suspended.

If you have planned ahead and purchased an insurance plan for your phone, then you have nothing else to worry about. All you have to do now is contact the insurance company and request a replacement phone. After they approve your request, you only have to pay your deductible before a new phone, comparable to the one you lost or damaged, is shipped to you. It is definitely worth having cell phone insurance if you own one of the more expensive cell phone models.

However, if you are unfortunate enough not to have insurance on your cell phone, there are a few other things that you will need to do. You will need to check your cell phone company’s policy on lost or stolen phones. If you are fortunate, your cell phone provider will grant you a suspension of your monthly service plans and fees for up to thirty days. This will give you enough time to replace your lost or stolen phone.

However, many cell phone providers do not offer the courtesy suspension option. In this case, you may be required to provide documentation, such as a police report or sworn statement, that your cell phone was actually lost or stolen. You are generally required to present this proof within fourteen days of your phone’s disappearance.

After this, you will have to purchase a new cell phone, which can be rather costly. Most times, if you are in the middle of a service contract, you will have to pay the full cost of a brand new cell phone. Even if you decide to cancel your cell phone contract, most cell phone providers will penalize you and require that you pay exorbitant cancellation fees.

Obviously, it is best to take preventative measures and purchase insurance for your cell phone. This is especially true if your cell phone is really expensive, considering that cell phone insurance is rather inexpensive at around $4 to $6 a month. This low cost insurance is a decent trade off, if you are ever in the unenviable position of losing or damaging your cell phone. Just be sure to read the insurance policy thoroughly to see what is covered with the plan before purchasing.