Rewards Credit Cards That Cover Cell Phone Damage or Loss – Forbes

Cell phones are one of the most expensive possessions we own. When they get damaged or lost, we know that’s going to be a large, unplanned expense. If you don’t have a warranty or protection plan on your phone you may be covered for damages with your rewards credit card, especially if you have a business credit card. Plus, the rewards credit cards with the best cell phone protection plans are often the best rewards credit cards to use when purchasing a phone, especially the expensive iPhones. 

What rewards credit cards offer cell phone protection (STEPHANE DE SAKUTIN/AFP/Getty Images)

Here are two rewards credit cards with great cell phone protection:

Chase Ink Business Preferred

The Chase Ink Business Preferred is the only Chase credit card that offers cell phone protection. Chase will cover up to $600 for theft and damage claims after paying a $100 deductible. You can make up to three claims every 12 months for a total of $1,800 in claims.

You can also earn 80,000 points after spending $5,000 on purchases in 3 months, which equals at least $800 in statement credits or $1,000 in travel. 

Chase’s cell phone coverage is also secondary and will require other insurance policies to pay for damages first. If you have a protection plan with your cellular plan provider, homeowner’s insurance, renter’s insurance, or auto insurance, you will probably have to submit a claim with these groups first.

Terms and Conditions

You also need to pay attention to the Ink Business Preferred terms and conditions. Your phone will not be covered if any of the following events occur:

Your phone will not be covered if any of the following events occur:

  • Phone can still make and receive calls
  • Damage to non-manufacturer batteries and antennas
  • Cell phones are lost or “mysteriously disappear”
  • Phone is under the control of a common carrier (i.e. U.S. Postal Service, airplanes, or delivery service)
  • Phone is stolen from checked baggage (hand-carried bags are covered)
  • Telephone belongs to a prepaid or “pay as you go” plan
  • Damage or theft stemming from abuse, international acts, fraud, hostility, natural disasters, and confiscation of authorities

It’s possible to view an entire copy of the terms and conditions for the Ink Business Preferred Cell Phone Protection Plan here.

Additional Users

One benefit of the Ink Business Preferred is that other employees can get an additional card for free. The annual fee for the primary card is $95 a year.

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