Best Free Cell Phone Insurance Credit Cards

Credit Cards with cell phone insurance as a benefit has increasingly became a tendency for credit card issuers that are looking to get their cardholders to put a form of recurring charge on their cards. Under these circumstances, this makes it all the more necessary to take a more in-depth look at the surrounding policies currently available for a band of card issuers that do offer such a benefit under their cards. There are currently two major credit card issuers known to provide Cell phone insurance as a benefit and that’s Wells Fargo with all of their personal credit cards and Chase… With only the Chase Ink Preferred listed with that benefit.

Editor’s Note: Keep in mind that coverage is only eligible on NEW phone. To be eligible for these insurances, you need to put your entire monthly cellular phone bill on the card. Coverage will start following the payment of an entire monthly cellular phone bill and if you fail to make payments in a particular month, the protection will be suspended until the payment is made again.

Earning Rates On Cell Phone Bills:

Chase:

• Chase Ink Preferred: 3x Chase Ultimate Rewards points per $1 spent:

Wells Fargo: 

• Wells Fargo Cash Wise: 1.5% cash back on all purchases
• Wells Fargo Propel American Express Card: 1x point
• Wells Fargo Propel World American Express: 1x point
• Wells Fargo Visa Signature Card: 1x point
• Wells Fargo Rewards Card: 1x point
• Wells Fargo Home Rebate Visa Signature Card: 1x point
• Wells Fargo Cash Back College Card: 1x point

Alternative Card Issuers

This section is for other credit card issuers that do offer cell phone protection by their own merit:

• Hancock Bank: $500, $50 deductible
• First Citizens Bank: $500, $50 deductible
• Suntrust (Visa Signature cards only): $250, $50 deductible
• Quorum Credit Union: $250, $50 deductible
• Purdue Federal Credit Union: $250, $50 deductible

Chase & Wells Fargo Comparative Table:

File A Claim with Chase:

1. Call 888-320-9956 within 60 days of damage or theft.
2. They will ask for further information and provide you with a claim form
   1. The claim form must be completed within 90 days from the date of theft/damage.. You will need the following:
      1. Your completed and signed claim form.
      2. Copies of Your card statement reflecting the entire monthly cellular wireless telephone payment(s) preceding the date of damage, theft or involuntary and accidental parting.
      3. A copy of Your cellular wireless service provider billing statement that corresponds with the above card statement.
      4. A copy of Your cellular wireless telephone provider’s wireless device page or other sufficient proof, as determined in the Benefit Administrator’s sole discretion, of the cellular wireless telephone model currently linked to Your cellular wireless telephone account.
      5. If the claim is due to theft or criminal action, a copy of the police report or incident report filed within 48 hours of the occurrence.
      6. If the claim is due to damage, a copy of an insurance claim or other report as the Benefit Administrator, in its sole discretion, deems necessary to determine eligibility for coverage. In addition the Benefit Administrator may in its sole discretion require (a) an itemized estimate of repair from an authorized cellular wireless telephone repair facility or (b) the Cardholder to submit the cellular wireless telephone to the Benefit Administrator to evaluate the damage or (c) an itemized store receipt for the replacement cellular wireless telephone showing the purchase was made at an authorized cellular service provider’s retail or Internet store.
      7. Documentation (if available) of any other settlement of the claim.
      8. Any other documentation deemed necessary, in the Benefit Administrator’s sole discretion, to substantiate Your claim. All claims must be fully substantiated as to the time, place, cause, and purchase price of the cellular wireless telephone

File A Claim with Wells Fargo:

1. Call 888-320-9956 within 60 days of damage or theft.
2. They will ask for further information and provide you with a claim form
   1. The claim form must be completed within 90 days from the date of theft/damage.. You will need the following:
      1. Your completed and signed claim form.
      2. Copies of Your card statement reflecting monthly Cellular Wireless Telephone payments for the month preceding the
         date of damage or theft.
      3. A copy of Your current wireless service provider billing statement.
      4. A document from the Cellular Wireless Telephone provider or other sufficient proof, as determined by the benefit administrator, that the telephone you are claiming is currently linked to your Cellular Wireless Telephone account.
      5. If the claim is due to theft or criminal action, a copy of the police report.
      6. The benefit administrator may in its sole discretion require (a) an itemized estimate of repair from an authorized Cellular Telephone repair facility or (b) the Cardholder to submit the Cellular Wireless Telephone to the benefit administrator to evaluate the damage or (c) an itemized store receipt for the replacement Cellular Wireless Telephone showing the purchase was made at a cellular service provider’s retail or Internet store (for example Verizon Wireless, Sprint Wireless, etc.).
      7. Documentation (if available) of any other settlement of the claim.
      8. Any other documentation deemed necessary, in the benefit administrator’s sole discretion, to substantiate Your claim. All claims must be fully substantiated as to the time, place, cause, and purchase price of the Cellular Wireless Telephone.

Exclusions:

This section involved any exclusion listed within Chase’s Cell Phone Protection Benefits:

• Cellular wireless telephone accessories other than standard battery and/or standard antenna provided by the manufacturer.
• Cellular wireless telephone purchased for resale.
• Cellular wireless telephones that are lost or “mysteriously disappear.” “Mysterious disappearance” means the vanishing of an item in an unexplained manner where there is absence of evidence of a wrongful act by a person or persons.
• Cellular wireless telephone under the care and control of a common carrier (including, but not limited to, U.S. Postal Service, airplanes, or delivery service).
• Cellular wireless telephone stolen from baggage unless hand-carried and under Your personal supervision, or under the supervision of Your traveling companion who is previously known to You.
• Cellular wireless telephone which has been rented, leased, borrowed or cellular wireless telephones that are received as part of a pre-paid wireless service plan or “pay as you go” type service plans. 50 Questions? Call 1-888-320-9956
• Cosmetic damage to the cellular wireless telephone or damage that does not impact the cellular wireless telephone’s capabilities and functionalities of the phone.
• Damage or theft resulting from abuse, intentional acts, fraud, hostilities of any kind (including, but not limited to, war, invasion, rebellion, or insurrection), confiscation by the authorities, risks of contraband, illegal activities, normal wear and tear, flood, earthquake, radioactive contamination, or damage from inherent product defects.
• Damage or theft resulting from misdelivery or voluntary parting with the cellular wireless telephone.
• Replacement cellular wireless telephone not purchased from a cellular service provider’s retail or Internet store, (for example: Verizon Wireless, Sprint Wireless, etc.) or from an authorized cellular phone retailer.
• Taxes, delivery and transportation charges, and any fees associated with the cellular service provider.

There may be some exclusions that apply as well under Wells Fargo’s Cell Phone Protection Benefits:

• Cellular Wireless Telephone accessories other than standard battery and/or standard antenna provided by the manufacturer.
• Cellular Wireless Telephones purchased for resale, professional, or commercial use.
•  Cellular Wireless Telephones that are lost or “mysteriously disappear.” “Mysterious disappearance” means the vanishing of an item in an unexplained manner where there is absence of evidence of a wrongful act by a person or persons.
• Cellular Wireless Telephones under the care and control of a common carrier (including, but not limited to, U.S. Postal Service, airplanes, or delivery service).
• Cellular Wireless Telephones stolen from baggage unless hand-carried and under Your personal supervision, or under the supervision of Your traveling companion who is previously known to You.
• Cellular Wireless Telephones stolen from a construction site.
• Cellular Wireless Telephone which has been rented, leased or borrowed or Cellular Wireless Telephones that are received as part of a pre-paid plan.

Conclusion:

If you’re currently in the market for an efficient credit card that also provides you Cell Phone Protection Benefits, then make sure you check out either Chase for their Chase Ink Preferred or Wells Fargo for their personal cards like the Wells Fargo Cash Wise, Wells Fargo Propel 365 American Express Card. Comparatively, Chase only has one card with Cell Phone Protection at the moment versus Wells Fargo’s listing of all personal cards with Cell Phone Protection attached.

Wells Fargo not only provides a variety of cards with the listed attachment, but they also have a significantly lower deductible of $25 versus Chase’s Ink Preferred and it’s $100 deductible. Wells Fargo could be the clear contender for most consumers unless you are paying an extremely high bill each month with a heavy amount of cell phones under your plan… In which case, you can be able to take advantage of the 3X. Find out which card is right for you by checking out our complete list of Credit Card Promotions today!