Is cell phone insurance worth it for your business?

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In ERA’s latest white paper, Is Cell Phone Insurance Worth it?, we found phone damage rates have dropped 10% annually. If you’ve recently purchased a phone, you’ve probably been hard sold on cell phone insurance. Retailers often throw out alarming statistics—like “87 million phones are damaged each year”—to make you feel like coverage is a necessity. But are these numbers really as dire as they seem? And is phone insurance really worth it in today’s market?

So, this begs the question: When looking to determine if cell phone insurance is right for your business, what key considerations should be assessed in determining if the cost justifies the benefits?

Monthly cost add-up
Refurbished devices
Credit card coverage
Homeowner’s or renter’s insurance
Increased device security

Ultimately, whether or not cell phone insurance makes sense for you depends on your individual situation. Read our white paper and decide if cell phone insurance suits you. If you choose to get coverage, shop around and compare plans from different carriers, independent providers, and manufacturers to find the one that works best for your needs. With so many options and hidden costs, reviewing all the fine print before committing to a plan is essential.

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