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Would Cell Phones be covered under 'Contents Insurance' ?(given that cell phones are taken outside the house) |
Would Cell Phones be covered under 'Contents Insurance' ?(given that cell phones are taken outside the house) The cell phone would be covered as it fits the description of contents under any residential policy. Whether the peril that caused the damage is covered is another story. If you have a 'Named Perils' policy, you will have to consult your policy to see if what caused the damage is a listed peril on the policy. If you have an 'All Risk' policy, you will have to see if what caused the damage is excluded under your policy. Also note that it's possible for the dwelling to be insured under an 'All Risk' basis but your contents will be insured under a 'Named Perils' basis, so make sure you know which type of policy you have, and that you are looking at the correct section in your policy wording. BTW most 'All Risk' policy will cover mysterious disappearance (i.e. I lost it) as long as you fulfilled all the conditions on your policy. Third is what is the value of the phone or the amount of the damage, and is it significantly higher than your deductible? What constitutes significant is subjective. You have to decide whether the amount you will receive from the insurer outweighs the amount you will be paying by losing your claims free discount (if any), along with the risk that your insurer may non-renew your policy. Speak with your broker/agent who should be able to help you weigh your options (they can only show you the paths available to you, but you are the one who has to decide which path to take). Let me preface this by saying it depends on where you are, but, on a standard homeowners policy in the US, contents coverage is worldwide. A cell phone is considered contents coverage & is subject to the coverages, limitations & deductible on your policy. In most cases, if you just "lose" it, it would not be covered, if it burned up in a fire it would be covered. I would guess that you have a $250 or maybe even a $500 deductible. Unless your cell phone is quite fancy, if that is the only thing that was damaged, I would guess it would not meet your deductible, therefore you would have no claim. Also, I wouldn't be putting in very small claims, because that looks bad on your homeowners policy. Have a couple of small claims & it is possible your company will refuse to renew you. A company would rather see one large claim than 2 small ones. Amen to the prior answer! Add just to add my own opinions... Insurance is an ASSET, treat it as such. If you make small claims (not that this would prob qualify) but many small claims are going to cause your rates to go up, or your policy to be non-renewed (Cancelled at renewal)... Then, when you have a catastrophic loss, the second class, cut rate company you went with becuase no one else would take you, is going to stick it to you! Lic Agent 5 Years GA, SC and FL 912-756-5802 On the standard homeowners policy, your contents are covered anywhere in the world (with a few exceptions). BUT, they are ALSO subject to your deductible. HOWEVER, contents are only covered for "named perils". Dropping it causing it to break, is NOT covered under the standard policy. Theft is. Most of the time, the cell phone isn't worth as much as the deductible. But some policies ALSO limit coverage for portable electronic equipment. So the answer is, yes, but it's probably not worth it to claim it. agent, 21+ years yes. It's not contents insurance, it is unscheduled personal property (often referred to as contents). However, the cost of the phone may be more than the deductible, so why bother |
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