Can I cover my family’s smartphones under my homeowners policy?

Like any homeowner, you want your home protected against life’s unexpected events. Whether it’s a theft, fire or devastating storm, a solid homeowners policy will insure that your most valued possessions are kept safe and, if necessary, be replaced without any undue hardship on your part. In many cases, this extends even to the smallest personal effects in your home.

But what about a personal effect you carry with you most of the day? Smartphones have become a rather ubiquitous part of everyday life, thanks to the nearly endless number of ways they make ordinary tasks easier. From shopping lists, web surfing, staying in contact with friends and co-workers and even passing time with a few games, the average smartphone has become a worthwhile companion for many.

Your family’s smartphones may be covered under your homeowners policy, usually as part of your “personal property.” In most cases, this means you have coverage in the event of a qualifying peril, such as a theft, fire or water damage resulting from a broken pipe or other covered catastrophe.

However, there is a catch. If and when these events happen, you’ll still have to pay your deductible first (unless your home is covered with zero deductible). In many cases, the cost of the deductible can easily exceed the value of the phone itself. If your phone costs $200 (or perhaps triple that the cost isn’t subsidized by a carrier) and your deductible costs $2500, you’re better off paying out-of-pocket for a replacement. Also, your family’s smartphones may be covered under other third-party mobile phone insurance. Still, it doesn’t hurt to see if your homeowners policy offers better coverage for your smartphones.

Not having the right level of homeowners insurance coverage you need can be a rather expensive mistake. Instead, take advantage of our website and compare quotes online from multiple carriers. Don’t forget that as your independent agency, we can help you find the right solutions to your insurance needs.

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