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There’s some helpful news coming out if you’re looking for a credit card or already have one. More credit cards are adding cell phone insurance as a built-in benefit. Additionally, this coverage offsets the cell phone repair and replacement costs due to theft and loss. Several premium American Express credit cards are getting this free perk starting April 1, 2021.
How Amex Cell Phone Insurance Works
The new cell phone protection benefit is effective April 1, 2021, for select personal and small business Amex credit cards.
Here are the key details of this new benefit:
- Covers theft and damage (including cracked phone screens)
- Receive reimbursement for repair and replacement costs (up to $800 per claim)
- Can file up to 2 approved claims per rolling 12-month period
- $50 deductible applies to each claim
Eligible phones must be listed on the monthly wireless phone bill. However, the prior month’s statement must be paid with the qualifying American Express credit card to qualify.
This insurance benefit will pay up to $800 per claim ($1,600 per 12-month period). If you’re having bad luck with phones, the Amex cell phone protection approves up to 2 claims per 12-month period.
What makes this Amex perk different than other credit card cell phone protection plans is that it covers cracked screens. An American Express Trendex survey finds that approximately half of current smartphones have a cracked screen.
Qualifying Amex Credit Cards
There are a dozen consumer and small business credit cards that qualify for this perk. Plus, this benefit is free for all eligible card accounts. Additionally, many of the cards are also some of the best American Express cards available.
- The Platinum Card® from American Express
- The Business Platinum Card® from American Express
- Centurion® Card from American Express
- The Business Centurion® Card from American Express
- Delta SkyMiles® Platinum American Express Card
- Delta SkyMiles® Platinum Business American Express Card
- The Delta SkyMiles® Reserve American Express Card
- Delta SkyMiles® Reserve Business American Express Card
- The Platinum Card® from American Express for Charles Schwab
- The Platinum Card® from American Express Exclusively for Morgan Stanley
- Platinum Card® from American Express for Goldman Sachs
- The Centurion® Card from American Express Exclusively for Goldman Sachs
You can read the terms and conditions for your qualifying card to learn more about this benefit.
It’s also a good reminder that the consumer Amex Platinum has a monthly $30 PayPal credit through June 2021. However, terms apply.
In conclusion, the Amex cell phone insurance is a welcome perk that can help cardholders save money. This ongoing benefit can ease the pain of fixing or replacing your phone after an accident. The premium American Express credit cards also continue to provide value during life’s unpleasant moments.
Chase Sapphire Preferred® Card
- Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 when you redeem through Chase Ultimate Rewards®. Plus earn up to $50 in statement credits towards grocery store purchases within your first year of account opening.
- Earn 2X points on dining including eligible delivery services, takeout and dining out and travel. Plus, earn 1 point per dollar spent on all other purchases.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 80,000 points are worth $1,000 toward travel.
- With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories.
- Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash's subscription service. Activate by 12/31/21.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Get up to $60 back on an eligible Peloton Digital or All-Access Membership through 12/31/2021, and get full access to their workout library through the Peloton app, including cardio, running, strength, yoga, and more. Take classes using a phone, tablet, or TV. No fitness equipment is required.
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Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airlines or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities.