It’s hard to imagine life without our phones and other devices. But when they go on the fritz, they can be pricey to repair or replace. This is where electronics insurance and extended warranties may be able to help.
Also known as “gadget insurance,” electronics insurance can pay to fix problems your homeowners policy won’t. For example, it can cover repairs if your phone simply stops working. But do you actually need this insurance?
Here’s a rundown of what coverage you might already have, how electronics insurance works and where to get it.
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You may have more coverage for your electronics than you think. Before buying gadget insurance, check your existing insurance policies and your credit cards.
Homeowners and renters insurance
Homeowners and renters insurance policies come with personal property coverage, which includes electronic devices. This coverage will usually reimburse you if your stuff is stolen or destroyed by a fire, windstorm or other disaster listed in the policy.
Some limits apply:
- A home insurance policy typically won’t pay if your electronic device stops working or it’s damaged in an accident.
- Portable electronics — including smartphones, laptops and tablets — may be covered only up to a certain sublimit, such as $1,500. (You can usually buy additional coverage, however.)
- If your electronics are damaged or stolen, your homeowners insurance will often pay only their current value. Usually, that won’t be enough to replace them with new items. (To remedy this, upgrade to replacement cost coverage.)
- Any payout from your insurer is subject to your deductible — the amount of a claim you’re responsible for. Say your $750 phone is stolen, and your homeowners insurance deductible is $1,000. It's not worth filing a claim because you won't get anything back.
Extended warranties through your credit card
If you bought an electronic device with a credit card, check your card benefits. You may have extended warranty coverage for the device.
Some Visa, Mastercard and American Express cards will extend the timeline of the original manufacturer’s warranty at no cost to you. Because this coverage mirrors the original warranty’s, your device will generally be covered for manufacturer defects but not theft, loss or accidents. Also, some card issuers may offer coverage for your phone if you use the card to pay your wireless bill.
Not sure if your credit card includes extended warranty coverage? Call the number on the back of your card or log into your online account to view a full list of card benefits.
Learn more about credit card extended warranty policies.
How electronics insurance works
Electronics insurance pays for things a manufacturer warranty or home insurance policy usually doesn’t cover, like accidental spills and drops. If your device is damaged or has a malfunction, you can file a claim to have it repaired or replaced. You may need to pay a deductible or service fee.
Electronics insurance is most commonly available for individual devices like your phone or laptop. However, some companies offer plans that bundle multiple devices. They can include TVs, gaming consoles and home theater systems.
You can pay for some plans on an ongoing, month-to-month basis. Others are good for a set period of time such as two or three years.
Full coverage doesn’t always take effect immediately. Some plans have a waiting period, such as 30 days, between when you buy the coverage and when you can make a claim. There may also be restrictions on how soon you need to buy your plan after purchasing the device. If your device is broken beyond repair, some companies may offer you a refurbished item as a replacement, rather than a brand-new device.
As always, it’s wise to read the terms and conditions carefully before buying a plan.
🤓 Nerdy Tip
When shopping for electronics insurance, you may see terms such as “protection plan” and “service contract.” There are differences in how these products are regulated, but from a consumer perspective, they’re quite similar. What the plan is called is less important than what it covers (and what it doesn’t). » MORE: The best cell phone plans
Do you need electronics insurance?
Whether electronics insurance is a good buy depends on several factors. One is how likely you are to need repairs for your item.
For example, if your phone has a sturdy, waterproof case and you tend to be careful with your stuff, phone insurance might be a waste of money. But if you’ve got little kids with clumsy fingers who love to play with your phone, buying insurance might be a prudent move.
Even if you do think you might need repairs at some point, the math doesn’t always work out.
Say you insure your new iPhone for $8.99 per month, with a deductible of $149 per repair. You have the phone (and the insurance) for two years, during which you file a single claim for a cracked screen.
The estimated cost to fix a cracked iPhone 17 screen ranges from $229 to $379, according to Apple. Meanwhile, the cost of two years of insurance plus the deductible is about $365. In this scenario, the insurance may not save you much money — and could even cost more than the cost of repairs. You might be better off maintaining an emergency fund for these types of expenses.
Below are a few questions to think about when deciding whether you need electronics insurance:
- Do you feel comfortable with the coverage you already have through your home insurance or credit card?
- What types of damage would the electronics insurance pay for that your existing coverage wouldn’t?
- How much will the plan cost, including potential deductibles or service fees?
- Would having to repair or replace your device on the spur of the moment be a financial hardship?
Where to buy electronics insurance
You can often buy phone insurance through your wireless provider. Other options include extended warranties from manufacturers like Apple and big-box stores like Best Buy. But you may also want to check out third-party providers such as the ones below.
Akko
Akko has several plan options. You can choose to cover one or multiple phones, or a phone plus up to 25 other items such as laptops, tablets, cameras, video game consoles and even bicycles. The company has home tech bundles, too.
| Coverage | Available? |
|---|---|
| Accidental damage (drops, spills, cracked screens) | ✓ |
| Electrical or mechanical failure | ✓ |
| Loss/mysterious disappearance | ✓ (phones only) |
| Theft | ✓ |
Allstate
Allstate sells electronics insurance through a subsidiary called SquareTrade. Plans are available for individual devices such as phones, laptops, tablets, TVs, cameras and fitness trackers. You can also buy a family plan to cover up to four phones.
Phone plans are paid on a monthly basis. For most other devices, you choose a set amount of time for your warranty to be valid, such as two or three years.
| Coverage | Available? |
|---|---|
| Accidental damage (drops, spills, cracked screens) | ✓ |
| Electrical or mechanical failure | ✓ |
| Loss/mysterious disappearance | |
| Theft | |
| Other coverage: Upgraded plans include identity theft recovery services, tech support and one instance of Allstate roadside assistance per year. | |
Asurion
Asurion offers phone protection plans in partnership with carriers like Verizon and AT&T. Alternatively, you can pick one of Asurion’s Tech Care plans, which cover phones and other devices of your choice.
The Asurion Tech Care plan includes coverage for one, two or four phones, plus devices like computers, TVs and major home appliances. You may get some money back in rewards if you don’t file a claim.
| Coverage | Available? |
|---|---|
| Accidental damage (drops, spills, cracked screens) | ✓ (portable devices like phones and tablets only) |
| Electrical or mechanical failure | ✓ |
| Loss/mysterious disappearance | |
| Theft | |
| Other coverage: Power surges. | |
Farmers
Farmers sells electronics insurance through a third-party partner. The Mobile Device Protection plan covers up to four phones per household.
You can also choose a Home Device Protection plan for other devices such as tablets, computers, robot vacuum cleaners and smart speakers. (Larger home appliances aren’t included.) If you want the full package, choose Total Device Protection, which covers four phones and other home electronics.
| Coverage | Available? |
|---|---|
| Accidental damage (drops, spills, cracked screens) | ✓ |
| Electrical or mechanical failure | ✓ |
| Loss/mysterious disappearance | ✓ (phones and select portable devices only) |
| Theft | ✓ (phones and select portable devices only) |
| Other coverage: Power surges. | |
Worth Ave. Group
Worth Ave. Group offers individual plans for devices such as phones, laptops, tablets and smart watches. For each device, you can choose a coverage amount and term length (such as one to three years). Depending on the term length, you may be able to pay your premiums annually or monthly.
The company will cover devices even if stolen overseas.
| Coverage | Available? |
|---|---|
| Accidental damage (drops, spills, cracked screens) | ✓ |
| Electrical or mechanical failure | ✓ |
| Loss/mysterious disappearance | |
| Theft | ✓ (except from an unattended vehicle) |
| Other coverage: Power surges from lightning; vandalism; natural disasters such as floods and fires. | |
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- 1. Apple. Apple Service and Repair for iPhone. Accessed Jun 2, 2026.
