5 Ways to Protect Your iPhone X

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Getting your iPhone X Protected - Is your Credit Card the best Option?

So now that you have placed an order for your iPhone X and you are excited about it, it is a good idea to explore few options just in case you accidently end up breaking the screen or have any other mishap with it.

1. Apple Care

The most popular option for any apple product is is Apple Care. Not only it is sold at the Apple stores and Apple’s online store but also all the major carriers offer it. Before you spend $199 + tax on the Apple Care you should understand the pros and cons of it.


Pros:

  • Protects your device against accidental damage including the screen breakdown.
  • Extends Warranty from 1 year to 2 for your iPhone, Battery, Earphones and Accessories.
  • Covers two incidents of accidental damage. • Replaces phone immediately.
  • Provides technical support.

Cons:

  • Replaces phone with a refurbished device.
  • Every accidental damage incident has a co-payment. $29 + tax for the screen damage and $99 + tax for any other damage.
  • If you damage the phone the third time you will have to pay out of pocket.
  • If you don’t buy it at the time of purchase you can buy it only if you damage your device and that damage will not be covered by the plan you will purchase.

2. Carrier Offered Protection Plan

Most of the major carriers offer their own flavor of the protection plan. These plans are either Apple Care + carrier branded services or a completely carrier branded services. Most of these plans cost either same as Apple Care or slightly more since they offer additional services.


Pros:

  • May protect your device against accidental damage including the screen breakdown.
  • Extends Warranty from 1 year to 2 for your iPhone, Battery, Earphones and Accessories.
  • Covers two incidents of accidental damage.
  • Either replace your phone immediately or provide a loaner device.
  • May replace your phone if you lose it. • Provides technical support.

Cons:

  • Replaces phone with a refurbished device.
  • Loaner device may not be the same device.
  • May have a co-payment for every incident.
  • May have a limit on the number of incidents.
  • f Apple Care is not part of the offering it may void the manufacturer’s warranty.

 

3. Third Party Providers

Another viable option is the third party providers. There are more than ten providers including Assurant, Asurion and SquareTrade to name a few.

Pros:

  • May be cheaper than Apple Care or the Carrier Plan.
  • May have no or lower co-payment per incident.

Cons:

  • May not provide a loaner phone.
  • May require you to incur out of pocket expenses first and then reimburse for it.
  • In some cases you may not be reimbursed for the full amount.
  • May have a limit on the number of incidents.
  • It may take longer to get the phone repaired.

4. Home Insurance

If you are a homeowner you may have some coverage for your iPhone X through your home insurance policy. This coverage applies if and only if you lose your device.

Pros:

  • No purchase of a protection plan required.
  • May be able to reimburse for the full replacement cost of the device.

Cons:

  • Coverage applicable only in the case of loss or theft.
  • Will require you to pay the home insurance deductible.
  • May increase your home insurance premium or make it harder to switch to a different insurance provider for the next 3 years. 5.

5. Credit Card

After all Bank Yogi is all about card benefits. Yes, your device may be protected through card benefits with an eligible credit card. Most of the credit cards will not only extend the warranty by another year but also provide limited coverage against accidental damage and theft protection.

Pros:

  • May provide up to 1 year of extended warranty.
  • May provide 3 months of coverage against accidental damage.
  • May provide 3 months of coverage against loss / theft.
  • May provide and extended return period for 60-90 days compared to the standard 2 weeks allowed by carriers and retailers.
  • No monthly premium or one time plan purchase required.
  • Some cards may offer extended benefits or cellphone coverage for a fee.

Cons:

  • Coverage is not as extensive as the one provided by Apple Care or the Carriers.
  • You may have to pay the repair costs upfront and then get reimbursed.
  • In some incidents coverage is secondary. For example, if you lose the device and own a home your bank may ask you to file the claim against your home insurance first and then reimburse you either for the deductible or the uncovered amount.
  • Purchase must be made with the qualified credit card.

Bonus:

Buy a good screen protector and phone cover. :)

Conclusion:

Determining whether the credit card is the best option to protect your iPhone depends on your own personal circumstances.

Things to consider to make this decision:

  • Do you need the phone immediately for business continuity?
  • What cycle of its lifecycle the device is in? For example, buying a device when it is new in the market vs. when it already has been in the market for 6 months or more are two different things.
  • The resale or trade-in value of your device.
  • Most importantly - your budget and appetite for risk.  Are you ok with paying the full cost of repair out of your pcoket if you are not covered.


You can download Bank Yogi mobile app to determine if your card offers the benefits discussed above.

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