How to Get Free Phone Insurance with Your Credit Card

So you just dished out several hundred dollars for a new smartphone and now you want to know how to protect that fragile miniature computer in your pocket without breaking the bank. It’s no secret that the cost of cell phone insurance can add up quickly, especially when combined with your monthly phone bill. But what many people don’t know is that credit card companies like Chase, Wells Fargo, and U.S. Bank offer free cell phone insurance, which could save you over $200/year.

How to get free phone insurance with your credit card:

• Research which credit cards include free phone insurance.
• Compare the benefits, features, sign-up bonuses, rewards, and interest of each credit card.
• Sign up for the credit card that best suits all of your financial needs.
• Pay for your monthly phone bill using your new credit card.
• Rest easy knowing you have cell phone insurance, free of charge.

Which Credit Cards Give You Free Phone Insurance?

Many credit card companies offer free cell phone insurance as a credit card benefit—the only catch is that you have to pay your monthly phone bill with that credit card. Although you shouldn’t choose a credit card solely based on this feature, you may want to check out the various cards that include phone protection.

Credit cards that include cell phone insurance:

• Wells Fargo: The Wells Fargo Propel American Express card provides coverage up to $600 per claim and $1,200/year.
• U.S. Bank: The U.S. Bank Visa Platinum card offers a maximum of $600 per claim, covering no more than $1,200 total in a 12-month period.
• Citibank: The Citi Premier card covers up to $800 per claim, up to $1,000/year.
• Bank of America: The Bank of America Cash Rewards card covers up to $600 per claim and $1,000/year.
• Uber Credit Card: The Uber Credit Card covers up to $600 per claim and a maximum of $1,200 per year.
• Deserve: The Deserve Pro Mastercard covers up to $600 per claim and a maximum of $1,000/year.
• Chase: The Chase Ink Business Preferred card, which is for small business owners, provides coverage up to $600 per claim, covering no more than $1,800/year.
• Deserve: The Deserve EDU Mastercard for Students covers $600 per claim and a maximum of $1,000/year.

As you can see, most of these cards offer similar coverage for stolen or damaged phones, so you’ll want to compare all of the features and rewards in order to decide which credit card is best for you and your financial situation.

You must pay for your monthly phone bill on the credit card in order to receive free phone insurance.

Wells Fargo Propel America Express Card

Several Wells Fargo credit cards include free phone insurance, but the Wells Fargo Propel America Express card is one of the best overall cards, with no annual fee, a nice sign-up bonus, and excellent on-going rewards.

Notable card features:

• 20,000 bonus points when you spend $1,000 in the first three months
• 0% APR for the first 12 months
• No annual fees
• No foreign transaction fees
• 3 points per $1 spent on dining, gas stations, rideshares, transit, flights, hotels, car rentals, and streaming services.
• 1 point per $1 spent on non-bonus expenditures.

Cell phone insurance:

• Pay your monthly phone bill with the Wells Fargo Propel America Express card and receive up to $600 per claim, with a maximum of $1,200 in a one-year period.
• Two claims per year.
• $25 deductible.
• Covers damaged or stolen phone.
• Lost devices are not covered, and neither are phones that have experienced software problems or electronic failure.
• Phones on prepaid plans are not covered.
• You must notify the insurer within 60 days of the date your phone was stolen or damaged.

U.S. Bank Visa Platinum Card

The U.S. Bank Visa Platinum card offers free phone insurance, as well as other enviable perks, such as the longest 0% APR intro period and no yearly fees. It’s an excellent choice for budget-minded customers looking to build credit without racking up the interest.

Notable card features:

• 0% intro APR for 18 billing cycles
• No yearly fee
• Choose your own payment date

Cell phone insurance:

• Pay your monthly cell phone bill using your U.S. Bank Visa Platinum card and receive phone coverage up to $600 per claim and a maximum of $1,200 per 12-month period.
• Two claims per year.
• $25 deductible.
• Covers broken or stolen devices.
• Does not cover lost phones, prepaid phones, phones with electrical issues, or devices with cosmetic damage that doesn’t impact the phone’s functioning.
• You must file a police report within 48 hours of your phone being stolen.
• You must submit a claim within 90 days of the damage or theft.

Citi Premier Card

Along with free phone coverage, the Citi Premier Card also includes a generous sign-up bonus, ongoing rewards, and travel perks (note that it does have a $95 annual fee). This card is best for those with a higher monthly budget looking to take advantage of the travel benefits.

Notable card features:

• 60,000 bonus points when you spend $4,000 within the first three months.
• 3 points per $1 spent on gas stations, hotels, car rental, public transit, tolls, parking, and airfare.
• 2 points per $1 spent on dining and entertainment.
• 1 point per $1 spent on everything else.
• Points are worth 25% more on air travel.
• Redeem gift cards with your points.
• No foreign transaction fees.

Cell phone insurance:

• Use your Citi Premier card to pay your monthly phone bill and get phone coverage up to $800 per claim and a maximum of $1,000 per year.
• Two claims per year.
• $50 deductible.
• Covers stolen or broken phones; does not cover lost or cosmetically-damaged devices.

Bank of America Cash Rewards Card

The Bank of America Cash Rewards Card is another great option for thrifty customers—signing up for this card gives you free cell phone insurance, $0 annual fees, 0% APR for the first 15 months, and excellent cash rewards.

Notable card features:

• Earn $200 cash rewards bonus when you spend $1,000 within 90 days.
• No annual fee.
• 0% APR for your first 15 billing cycles.
• 3% cash back on the category of your choosing, such as gas, online shopping, dining, or travel.
• 2% cash back at grocery stores and wholesale clubs on the first $2,500.
• 1% cash back on all other purchases.

Cell phone insurance:

• Pay your monthly phone bill with your Bank of America Cash Rewards Card and receive free phone insurance covering up to $600 per claim and $1,000/year.
• Two claims per year.
• $50 deductible.
• Covers stolen or broken devices.
• Does not cover lost phones.

Uber Credit Card

The Uber Credit Card is an excellent choice for people who frequently use rideshares. Benefits include free phone insurance, ongoing cashback rewards, no annual fees, and no foreign transaction fees.

Notable card features:

• No foreign transaction fees.
• $0 annual fee.
• Earn $100 in Uber Cash after spending $500 in the first 90 days (Uber Cash can be redeemed across all Uber platforms—from rides to JUMP to Uber Eats).
• 5% back in Uber Cash on Uber purchases.
• 3% back in Uber Cash on hotels, airfare, and dining.
• 1% back in Uber Cash on everything else.

Cell phone insurance:

• Pay your monthly bill with your Uber Credit Card and receive phone insurance coverage up to $600 per claim, up to a maximum of $1,200/year.
• Two claims per year.
• $25 deductible.
• Supplemental phone coverage, so you may need to provide proof of primary insurance.
• Covers stolen or damaged phones.
• Covers lost phones not otherwise covered by primary insurance.

The Deserve Pro Mastercard

The Deserve Pro Mastercard, along with offering complimentary phone insurance, has the highest rewards rate of all the Deserve credit cards. It also includes some decent perks, such as no annual fees and no foreign transaction fees. This credit card may be a good choice for those with limited credit looking to build credit history, as Deserve will issue the Pro Mastercard to people who have a Social Security Number and meet the employment and income requirements.

Notable card features:

• 3% cash back on entertainment and travel (purchases up to $500 per billing cycle)
• 2% cash back at restaurants (purchases up to $500 per billing cycle)
• 1% unlimited cash back on all other purchases.

Cell phone insurance:

• Use your Deserve Pro Mastercard to pay your cell phone bill and receive phone coverage up to $600 per claim and a maximum of $1,000/year.
• $50 deductible.
• Covers stolen or broken phone—lost phones are not covered, and neither is cosmetic damage that doesn’t affect the individual’s ability to use their phone.

Chase Ink Business Preferred card

When you’re busy trying to build a business from the ground up, the last thing you need is a broken or stolen phone, which is why the Chase Ink Business Preferred card includes phone insurance with its other benefits—plus it has the highest claim maximum per year, at $1,800.

Notable card features:

• 80,000 bonus points when you spend $5,000 in the first three months.
• No foreign transaction fees.
• 3 points per $1 spent on the first $150,000 spent on travel and business categories (including your phone bill).
• 1 point per $1 on all other purchases.

Cell phone insurance:

• Use your Chase Ink Business Preferred card to pay your phone bill and get device coverage up to $600 per claim and a maximum of $1,800/year.
• Up to three claims per year.
• $100 deductible.
• Covers broken or stolen devices.
• Does not cover lost or refurbished/used devices.
• Only covers you and your employees listed on your phone bill.
• If your phone is stolen, you must file a police report within 48 hours.
• Make sure to file your claim within 60 days of the incident.

The Deserve EDU Mastercard for Students

The Deserve EDU Mastercard for Students, as its name implies, is a credit card for students. You can qualify with limited credit history, there is no annual fee or foreign transaction fees, and you get 1% back on all purchases.

Notable card features:

• $0 annual fee
• No foreign transaction fees
• 1% back on all purchases
• No SSN required for international students
• Get Amazon Prime Student

Cell phone insurance:

• Pay your monthly cell phone bill with your Deserve EDU Mastercard for Students and receive phone coverage for up to $600 per claim, with a maximum of $1,000/year.
• Two claims per year.
• $50 deductible.
• Covers stolen or damaged devices, but not misplaced phones.

Cell Phone Plans

Don’t want to sign up for a new credit card right now? You can still save money by switching to a cheaper phone plan—then you can use the money you saved to buy phone insurance. Check out the affordable plans below.