Is Your Smartphone Covered by Greensboro Home Insurance?

A question that we're hearing more and more from policy holders and potential clients these days is whether or not their smartphones are covered by their Greensboro home insurance policies. This is a question that may not have a simple answer since, as with most homeowner's insurance policies, coverage differs from one company to the next and each specific policy may be unique. Here are some examples.

Your Greensboro home insurance policy almost assuredly covers loss or damage to your home's contents due to any of the policy's listed perils such as fire, theft, vandalism, explosion, etc., and your smartphone would fall within the contents category just like your TV, refrigerator or clothing. The problem here is that these things must occur within the home. Your smartphone, however, likely travels with you wherever you go and isn't confined to your home like your refrigerator is!

While Away From Home                                   

If you're on vacation and your camera or your smartphone is stolen from your hotel room you may find that your home insurance policy will cover this loss since theft is one of the perils covered in your policy. If you accidentally drop it off a bridge into the river below or it falls out of your pocket and is run over by a bus, these are occurrences that rarely would be covered.
That being said, it may be possible to add a rider to your home insurance policy that would cover your smartphone for any loss or damage. This would certainly increase your premium amount somewhat and you would have to deal with paying the deductible amount when making a claim.

Speaking of Deductibles

Most people carry homeowner's insurance as protection against actual disasters like a house fire or the roof being blown off in a windstorm, not for small claims like a lost smartphone. In many cases, the cost of the deductible could be as much as the cost of replacing the phone yourself, so making a claim just wouldn't make sense. In addition, making a claim will likely cause your premium rates to increase come renewal time, not to mention it would cause you to lose your “no claims” discount if this is something your insurer offers.

The best advice is to consult your insurance broker to see exactly what your policy covers regarding your cellphone. A viable option is to obtain separate gadget insurance for your phone.