How does Verizon Phone Insurance Work | Full System Explained

Verizon’s extended warranty coverage will cost you up to $5 per month, which is much less than Akko’s phone insurance plan. When your phone is lost, stolen, or accidentally damaged, there is no device replacement, but Verizon is the only plan that allows you to file. It is designed with as many claims as you want and have a discount on our disease-specific insurance. Let’s find more how does Verizon phone insurance work.

After the manufacturer’s warranty ends, device protection can help you replace your device if it is lost, stolen, damaged, or malfunctions. Some device protection plans include repair, security, privacy features, 24/7 technical support, and more.

The wireless device protection plan, which costs between $3.10 and $6.85 per month, is the one to choose if you only need coverage for unintentional damage.

The Total Equipment Coverage plan, which costs between $7 and $11 per month and covers both breakdown and unintentional damage, excludes all other services, is available for between $7 and $11 per month. With the Total Mobile Protection Plan, you get all of the above plus access to Verizon Tech Coach for $12 to $15 a month. Still, with Verizon Protect, you get all of the above plus Digital Secure and identity theft protection as additional services for $14 to $17 a month.

Verizon Phone Insurance Overview

How Does Verizon Phone Insurance Work

It’s unclear what percentage of Verizon customers pay for device insurance and protection; many smartphone users spend more than $200 each year.

Verizon charges these consumers each month unless they cancel, sent directly to their accounts. Many customers, however, are unaware that they are paying for warranty coverage.

How does Verizon Phone Insurance Work

How does Verizon Phone Insurance Work

Wireless Phone Protection

Lost, stolen, and damaged phones are covered by Mobile Phone Protection, which includes cracked screens and water damage. Once the original warranty has expired, it does not cover manufacturing defects.

The plan also does not cover defects or harm caused by normal wear and tear or misuse, accident or neglect, altered or modified, missing labels or unreadable serial numbers, or damage caused by spills or immersion in food or liquid, according to the fine print.

Coverage & Deductible

Total Equipment Coverage combines wireless phone protection with an extended warranty to cover lost, stolen, and damaged phones, as well as manufacturing defects, after the original warranty period has expired.

Coverage restrictions are identical to those of the Wireless Phone Protection plan. Excesses vary by model and range from $9 to $249, but most phones are entitled to unlimited screen replacement for $29 each. 

Also, the deductibles you’ll receive on each plan are something you should consider carefully before deciding on the type of plan or even the insurance company you’ll sign up with. There are no deductibles on the extended warranty with the Verizon coverage options.

Still, you will have a $9 to $249 accidental damage repair deductible ($29 screen repair) and a $9 to $249 loss or theft deductible with the cell phone protection plan. The other top three categories include the same deductibles as the cell phone protection plan and a restriction of three claims per year.

Backup Services

The only differences between the remaining three plans include Total Cell Phone Protection, Cell Phone Protection, and Verizon Protect Cover. These include Verizon Tech Coach (a personalized Verizon technical support service), VPN Safe WiFi, a Secure Digital Package, and an Identity Theft Protection Package. 

Customer Service

Verizon’s extended warranty coverage package is a cost-effective option. It is less expensive than Square trade’s phone insurance plan. However, the deductibles are not as generous. Once the typical warranty has expired, Verizon’s extended warranty covers most manufacturer defects but does not cover accidental loss or theft.

The wireless phone protection plan is next, with coverage for accidental damage and each accessory included. This can be the phone’s battery, car charger, case, or headset. After the warranty period, manufacturing defects are not covered, and the number of claims you can make in a year is limited to three.

Security Features

You can choose from approximately five different levels of coverage with Verizon’s wireless insurance plan. The first three include theft, loss, unintentional damage, and manufacturer’s defect coverage. The last two cover all of the above, come with some additional perks, and are a bit more cost-effective in the long run. Here’s a closer look at the plans, deductibles, and coverage limits.


Let’s face it: we’re all addicted to our phones. The Verizon insurance plans we’ve looked at in this review are great for protecting you from the unexpected, so if you’re willing to spend nearly $1,000 on the phone, there’s sure to be a plan for you.

Verizon Phone Insurance Cost

Verizon charges $17 per month for device insurance and smartphone protection like the Samsung Galaxy and Apple iPhone. That equates to $204 per year. So if a Verizon phone insurance customer makes the maximum three allowed claims in a year, they will end up paying more than $950 ($204 + $249 + $249 + $249).

That’s more than 70% more than customers must pay elsewhere for coverage.

For example, a two-year extended warranty with casualty insurance for Apple’s latest iPhone 12 costs $105.99 with Upsie. That’s $52.99 per year, or less than $4.50 per month, which is a 73% savings over Verizon’s coverage.

In addition, claims with Upsie are unlimited up to the phone’s purchase price, and buyers pay a flat $75 deductible. As a result, an Upsie user making three claims will pay only $277.99 total for a year. When compared to a Verizon warranty, Upsie saves customers nearly $670.

Total Mobile Protection

Total Mobile Protection includes the same benefits as Total Equipment Coverage, plus access to a Verizon technician. Tier 2 phones cost $12 per month, while Tier 1 phones cost $15 per month.

If you have many phones on the same plan, Total Mobile Multi-Device Protection is an option. The monthly fee is $45 for up to three lines. For $11 per month per line, you can add up to 7 additional lines. 

The main difference is that you can have up to 9 shared claims in 12 months, plus the fee (add three claims per different line). Verizon also has a multi-device Total Mobile Protection business package that costs $45 per month for three to ten lines, $129 per month for eleven to twenty-four lines, and $239 per month for twenty-five to fifty lines.

Frequently Asked Questions

What is Wireless Phone Protection?

With Wireless Phone Protection, you get the following benefits:

  • Loss, theft, and damage insurance (including water damage).
  • Next day device replacement,
  • Please note that you will not get protection if you cover (except in Florida and for Florida customers).

Who is eligible for Wireless Phone Protection?

You must enroll in Wireless Phone Protection within 30 days of one of the following events:

  • Purchasing a new device and connecting it to an existing or new line.
  • Bring your device that meets the following requirements
  • It is fully functional, free of flaws or damage (including cracked screens).Has not been lost or stolen
  • It is turned on a new service line (not an existing line).
  • Prepaid accounts are not currently eligible for wireless phone protection.

How much does Wireless Phone Protection cost, and what’s my deductible?

The costs of cell phone protection for subscribers nationwide are as follows:

Cell phone protection costs the following in New York:

  • One smartphone and watches have a monthly fee of $6.85.
  • 2 smartphones, basic phones, and tablets cost $3.10 per month.

How do I get Wireless Phone Protection?

If your device or account is eligible, you can sign up for cell phone protection on the Add-ons & Apps page in My Verizon.

What is my deductible when I file a claim?

For loss, theft, and damage claims, a deductible may apply (depending on the device type/model and whether you receive a replacement or repair for your chosen devices, as well as parts availability).

Deductibles are subject to change. You can find these on the website for your specific device.

Why did we initially get Verizon phone insurance?

We used the Verizon payment plan when we each purchased a new iPhone. The payment plan was 24 months and had no interest, that’s why having phone insurance is a good idea.

What would happen if something happened to one of the phones before paying it off in full, for example?

Then, instead of paying the total price for a new phone, we could file a claim and get a new one ourselves.

Bottom line

Cell phone insurance is often misunderstood, and people see it difficult to understand. However, making an intelligent choice becomes easy once you have a good idea of what’s offered. You can afford the monthly premiums plans. So, you don’t have an excuse to have a subscription plan.

Many Verizon subscribers have also taken to other platforms to complain about the service. As a result, users qualify Verizon as “bad.” Also, Trustpilot users think so with more than 2,100 reviews.

Ultimately, it depends on how much you’re willing to risk to keep your phone from getting broken, lost, or stolen. Compare Verizon’s different insurance programs with alternative options to make the best decision about insurance coverage for your phone.


Adam Grabois is an expert in all aspects of Insurance and Property with 20 years of experience. He is a licensed broker of all lines including property, casualty, life, and health. As a licensed adjuster, he is well-versed in all aspects of insurance, and he owns All Needs Insurance agency in Florida.

He attended Tufts University where he earned his undergraduate degree, followed by a Master's degree from Columbia University.

Adam shares his breadth of experience by helping many businesses and individuals manage risk and protect themselves financially. He now shares this with the audience of the "Pro Insurance Info" website.

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