Many or all companies we feature compensate us. Compensation and editorial research influence how products appear on a page. Credit Cards Credit Cards That Offer Cell Phone Protection for Loss and Damage Updated Jun 16, 2023   |   4-min read Written by Jeff Gitlen, CEPF® Written by Jeff Gitlen, CEPF® Expertise: Student loans, personal loans, home loans, insurance, credit cards Jeff Gitlen, CEPF®, is the director of content operations at LendEDU. He graduated from the Alfred Lerner College of Business and Economics at the University of Delaware. Learn more about Jeff Gitlen, CEPF® Some offers mentioned on this page may be outdated. To confirm offers and credit card details, check the issuer’s website. If you’ve ever dropped your cell phone, you know that momentary feeling of panic as you watch it hit the ground. Cell phones can be expensive—and fragile. Perils are waiting everywhere, so carriers offer cell phone insurance policies for an additional fee. Some credit cards, however, offer cell phone protection for loss and damage as a free perk for cardholders. Cell Phone Protection by Credit Card Provider Wells Fargo Credit Cards Wells Fargo has several credit cards that offer cell phone loss and damage protection benefits. In order to get this coverage, cardholders just need to pay their monthly cell phone bill with their eligible Wells Fargo credit card. The Wells Fargo credit card cell phone protection covers up to four phones listed on your wireless phone bill, so this is a great benefit for families with children. Although the benefits cover loss due to damage or theft, lost cell phones that were not stolen are not protected. Cardholders get up to $600 protection after a $25 deductible payment. Owners making a claim can receive no more than the value of the original phone or a comparable replacement phone up to a $600 maximum value. So owners of the iPhone X should be aware that there is a limit on the value of the protection policy. Cardholders are allowed to make up to two claims during a 12-month period with a maximum benefit of $1,200. The following credit cards from Wells Fargo offer the cell phone loss and damage protection for cardholders: Wells Fargo Visa Signature cardWells Fargo Cash Wise Visa Platinum cardWells Fargo Propel American Express cardWells Fargo Rewards cardWells Fargo Platinum cardWells Fargo Cash Back College cardWells Fargo Secured card Chase Credit Cards The Chase cell phone damage and loss protection benefit can be helpful, but there are also a lot of exceptions and conditions to their coverage. It only covers cell phones you have actually purchased and not those that are rented, leased, or borrowed. It also doesn’t cover cell phones you get for free as part of a pre-paid wireless service plan or a “pay as you go” type of cell service plan. Only cell phones purchased through a wireless carrier’s retail store or online store are eligible for protection benefits. The coverage does not include any accessories other than the standard antenna and battery that come with the phone from the manufacturer. While the coverage does extend to certain cosmetic damages, such as broken screens, the damage has to impact the functionality of the phone. So scratches or cracks may not be covered unless they are considered to be bad enough to limit the capabilities and functionalities of the phone. Finally, loss claims cannot be caused by individual misplacement of the phone. There needs to be evidence of theft in order to make a loss claim. In addition, claims due to loss cannot be related to loss caused by a parcel carrier. In those cases, you would need to file a loss claim with the parcel delivery carrier. Are These Protection Plans Worthwhile? Before opting out of an insurance policy from your wireless carrier, it’s important to consider whether this free benefit is worthwhile for you. The terms of coverage due to damage and theft are similar, but a wireless carrier may charge you over $100 a year for the same coverage. If you are rough with your phone, you’ll probably find that some kind of cell phone damage protection is a necessity. You can save a considerable amount of money by simply paying your monthly cell phone bill with your eligible credit card. On the other hand, it’s important to understand the limitations of the benefit. With the price of a new iPhone reaching around $1,000, you might consider an alternative insurance policy that would cover the full value of the phone.