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This bank will protect your phone against damage for life with $600 in coverage and no fee

by on Tue September 16, 2014 • 75 Comments
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If you’re about to get a brand-new iPhone 6, or any other smartphone, you might want to think about applying for a new credit card.

That’s because one bank’s cards will protect and insure your cell phones against damage or theft up to $600 for as long as you own the phone.

It’s Wells Fargo.

How does it work?

Simply pay your monthly phone bill with any Wells Fargo credit card and the phone associated with your plan will be insured against damage or theft.

You get up to $600 in coverage for each incident, and you can file two accident claims per year.

And there’s no limit on how many years the coverage can apply. There’s just a $25 deductible if you file a claim.

You don’t even have to buy the phone with your card. You’re covered each month you pay your wireless phone bill with the card.

The coverage is so good you might want to avoid paying the $99 for AppleCare Plus, which only covers a phone for two years, and for two incidents total.

And you can probably stay away from your wireless carrier’s own insurance, which often has deductibles of $100 or more.

> Click here for cell phone protection details from Wells Fargo

What’s the catch?

Replacing the phone is a little more cumbersome than with AppleCare or your phone company’s plan. You’ll have file a claim to find out whether you should get the phone repaired or replaced entirely. If it’s replaced entirely you buy it directly from your wireless carrier’s store – online or in person.

The point is, it’s possible you could be without a functioning phone for more than a day.

Also note that debit and business cards don’t qualify, just regular consumer credit cards from Wells Fargo.

What cards apply?

Every Wells Fargo credit card qualifies. Their cards aren’t the best at offering big rewards, though the Wells Fargo Propel offers good point earning, and there are some no annual fee ones as well like the Wells Fargo Rewards Card which offers 5x on gas, groceries, and drugstores for 6 months.

 

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75 thoughts on This bank will protect your phone against damage for life with $600 in coverage and no fee

  1. Steve Paulson

    I would AVOID THIS CARD IF YOU ARE GETTING IT SPECIFICALLY FOR CELL PHONE PROTECTION!!! It sounds like a great deal, but there is FINE PRINT in the terms and conditions, and the reality is that DO EVERYTHING TO AVOID PAYMENT ON A CLAIM. This service is administered by a company called Card Benefit Services that looks for every possible reason to deny the claim. I have spent months going back and forth on a stolen cell phone claim, for which I submitted a police report and have been denied for multiple reasons. I will give you two of them that are the source of my frustrations with WF. The latest (and last straw leading to me cancelling the credit card after using it to automatically pay my cell phone bills for 1 year), is that the policy covers the “primary line and up to the first three additional lines as listed on your provider’s monthly statement.” I use T-Mobile, which happens to list the numbers on the bill in numerical order. I have a total of 6 phones on the account, including mine. By luck, the 5th one is my oldest daughter’s, who’s stolen phone we were claiming. I am the owner (and therefore the primary line), and I happen to be the 6th in numerical order on the bill. This company is telling me the primary line is the 1st one listed (my 11 year-old daughter), and that my phone and the one stolen are not covered by the policy!!! Before this issue was brought up, I had to debate WF up to supervisor level when the claim was originally denied for being sent to a business address. It is not a business account, but I have the bill sent to my office so that it doesn’t get lost in the mail. It took them several weeks to agree that it shouldn’t affect the claim. is being sent to my office address so that the bill does not get misplaced at home. Because of that, they were arguing it was a non-eligible business account even though all the phones were for me and my family. WF is not supporting me on the claim and it is time to part ways. It would seem reasonable that they would take care of their customer (with a single claim in one year), who is clearly only using the “insurance” for what they thought it was intended to do.

    Reply
  2. David

    This is not a good program as people thought. I have been paying for my ATT cell phone bill in the last 4 -5 months using the WF Credit card.
    By accidentally, I dropped my iphone5 on the concrete floor and it is completely dead. The screen is not broken. I bough to both Apple store for investigate. They tried to charge the phone, no screen on, no vibration and no LED flashing. They told me the phone has serve damaged and they recommended me to replace the new phone or major repair service is about $300. ATT service recommended me the same thing. I completely forgot about WF damage protection until my friend remind me.
    I called WF benefit service. In order to receive the insurance service from WF, the screen must be broken or must has been dropped into the water.
    WF did not specify this when they advertising this program.
    I am going to remove my pay bill from WF CC.
    Good luck everyone.

    Reply
  3. Ishaan

    I have a card and My phone is broken but I don’t know if it is severe enough to get a new one. Also, do they pay you the amount of money needed for the new phone of the same type or the full 600 dollars?

    Reply
    1. MileCards.com

      @Ishaan – They pay the replacement cost, so if it’s less than $600 you would not receive a full $600. As for how severe it is – only way to tell for sure is to call the number on the back of your card and get started.

      Reply
  4. kiran gupta

    my iphone 6s is stole. i filed police report. i bought new phone with my update plan so i paid only 300 dollar. now when i buy phone now its 649 dollar. so how much i will get it back from wells fargo. i am paying my phone since last 2 years from wells credit card. please tell me what is procedure. thanks

    Reply
  5. margie franklin

    So, if I pay my att bill with my debit card does this free insurance apply? or would I have to use my rewards credit card? Does this mean I can cancel my insurance with my carrier and only use the Wells fargo free insurance?

    Reply
    1. MileCards.com

      @margie – You have to use a credit card – it doesn’t apply to the debit card. If you think the $600 coverage is sufficient, then you can consider using this instead of your carrier’s coverage.

      Reply
  6. Dak

    I have the Well’s fargo card. I just returned from a trip to the UK where my IPhone 6 was stolen at a wedding reception. I informed the organizers and the Event co-ordinator at the Venue. They asked me to call back the next day to see if anyone had handed in the the IPhone. I called the next day… No joy… They said the device was stolen. They documented it. But to my knowledge no police report was filed. How should I address this when I make the “stolen” IPhone claim?

    Reply
  7. Mark

    Do they only pay for the repair estimates or they do reimburse the full 600? They require me to go to the Apple store for repair estimates on my broken phone 6. The repair estimates will only show the minimum amount required to fix the phone. Will they only reimburse that repair amount or will they still send me the full check for $600?

    Reply
    1. MileCards.com

      @Mark – If it costs less than $600 to repair or replace the phone, then expect a check for less than $600.

      Reply
    1. MileCards.com

      @Jason – If you pay Spring using your Wells Fargo card then coverage is possible. Always best to call the number on the back of your Wells Fargo card to double check your situation.

      Reply
  8. Jomar

    I have used this and love it…..I got a new phone for a 25 deductible and didn’t have to pay for cellphone insurance. The process was not cumbersome at all….at least when it’s free completing a one page paper work and submitting my statements was not a big deal.

    Reply
    1. Alex Ordway

      Hey @Jomar –

      What was the process like to get a damage verification/repair estimate submitted to WF? How long did the whole process take?

      Reply
  9. Elan

    How long does it take to get a new phone after the claim? And can you get a new sim with same # from carrier before receive new phone? Thanks.

    Reply
  10. Joe

    The WF guide to benefits excludes “leased” phones. Has anyone had any experience repairing or replacing a phone on Sprint’s iPhone for Life plan or T-Mobile’s JUMP! On Demand plan? I believe both are technically leases.

    Reply
    1. MileCards.com

      @FLABeachcomber – Wouldn’t count on it, as the coverage is specific to “cellular telephones” – as opposed to mobile devices in general.

      Reply
  11. Andy

    If I buy a phone from craigslist, get it working with my carrier, and later on it breaks, will they cover it? Also do they cover galaxy s2 and s3?

    Reply
    1. MileCards.com

      @Luis – They generally cover replacement of the phone as long as you bought the phone from your phone carrier. Water damage doesn’t appear to be excluded, but always best to check with them directly before relying on it.

      Reply
  12. Valerie

    Hi:

    Two questions, please.

    1. Are “covered damage” included broken phone? My phone and text stop ringing so I don’t know when they are coming unless I check. Would that qualify me to file a claim?

    2. How many months do I have to pay the phone bills on my wells fargo credit card before it allows me to file a claim?

    Thank you,

    Reply
    1. MileCards.com

      @Valerie – When you pay a cell phone bill coverage kicks in on the 1st day of the following month. So if your July statement is paid using your Wells Fargo card it kicks in on August 1.

      As for the covered damage – generally it’s damage that prevents you from being able to make or receive calls. So your case sounds borderline possible. You can try calling 866-804-4770 to see if they have a specific answer for your situation.

      Reply
  13. Roy Shin

    I’m currently using Verizon wireless, phone bill comes under my wife’s name, but i’m paying bills.

    Do you guys think it still work? or should I use my wife’s credit card to get covered?

    And how long does it take?

    Reply
    1. MileCards.com

      @Roy – The coverage document says it should be ‘Your’ bill – so probably best to have her get a card and pay it directly. Once she starts paying the coverage kicks in the first day of the month after she pays the bill. So if she pays a bill in July the coverage kicks in August 1.

      Reply
  14. Phone Lady

    Does anyone know what type of damage is covered? Like if my phone simply doesn’t turn on? That’s more of a defect? Or is is damage? Do I need to phrase it a certain way. I think its my charger port that is loose. Thanks!

    Reply
    1. Drew

      While it won’t cover you if your phone is “lost”, it does cover it if it’s “stolen”. So I’d assume you didn’t “lose” your phone, you must’ve been at the bar and your phone was “stolen”. I know that’s what would’ve happened to my phone if I “lost” it (LOL).

      Reply
  15. Brian Wetzel

    Does it cover water damage.
    Phone no longer works after water was spilled on it. (actually red screen of death)

    Reply
    1. MileCards.com

      @Brian – As far as we can see there is no explicit exclusion for water damage. But it also doesn’t specifically include it. So it’s a grey area.

      Reply
  16. Daniel Romo

    I have a Samsung Note 4. My screen cracked its still functional minor cracks on about a quarter of the phone. Should i file a claim? Even thought it still functions.

    Reply
  17. Jorge

    I have an iPhone 6 64 gb have insurance through Verizon and automatic payment with Wells Fargo. The value of my phone is 850dlls. They only cover 600 would they pay my deductible if I claim it with Verizon’s insurance to get it replaced

    Reply
    1. MileCards.com

      @Jorge – It should, the coverage is supplemental to any insurance you already have. But best to double check directly with Wells Fargo.

      Reply
    2. Drew

      While Verizon will cover your phone fully if lost, stolen, or broken, you’ll be paying an average of $10.00 a month for the insurance PER phone or tablet AND an average $150.00 deductible for a “refurbished” phone. If you have 3 or 4 phones or tablets on your account, you’d be paying $30.00 or $40.00 a month for insurance coverage. If you use a Wells Fargo credit card to pay your cell phone bill each month, you can cancel the carriers insurance, saving you all the money, and they’ll give you $575.00 ($600.00 – $25.00 deductible) to go purchase a BRAND NEW phone from your carrier. How can you beat that ??? I’m saving over $360.00 a year now by simply using my Wells Fargo VISA to pay my Verizon bill each month. It’s AWESOME !!!!

      Reply
      1. Drew

        And I forgot, Wells Fargo will cover up to 4 devices. So my wife’s phone and my kid’s tablets are all covered along with my own phone with absolutely no money out of my pocket on a monthly basis.

        Reply
        1. SD

          Drew, quick question, do you know for sure that tablets are also covered? I read the T&C and wasn’t sure. Did you happen to talk to WF directly about this? I’d love to know myself. I started using my WF card a few months ago to cover my T-Mobile bill, but am currently still paying for insurance on my tablet. I’d love to be able to drop that…!

          Reply
      2. Mark

        Do they only pay for the repair estimates or they do reimburse the full 600? They require me to go to the Apple store for repair estimates on my broken phone 6. The repair estimates will only show the minimum amount required to fix the phone. Will they only reimburse that repair amount or will they still send me the full check for $600?

        Reply
    1. MileCards.com

      @K.D – Whatever phone is linked to the carrier bill you pay qualifies. The replacement phone for the damaged one must be bought via the carrier that bills you for the monthly service.

      Reply
  18. user123

    I had a question on where to buy the replacing phone. It says I have to buy at the carrier’s store, but can you get reimbursed if you buy it somewhere else, like apple store? I’m asking cuz I’m on t-mobile but want to use verizon unlocked iphone (i believe they have different bands).

    Reply
    1. MileCards.com

      @user123 – You’d have to contact the customer service line of the bank you’re dealing with. It may not work as it may cross check with the provider on your monthly bill charged to the card.

      Reply
  19. Erin

    What if they decide to discontinue the insurance policy they currently offer? Apple Care and other insurance plans can only be added within 14-30 days. Say I just bought a new iPhone 6 and elect to go the Wells Fargo credit card route just to find out that they cancel the insurance program after 8 months- am I supposed to go insuranceless for the rest of my 2 year contract?

    Reply
    1. MileCards.com

      @Erin- The Wells Fargo plan has been around for a few years. But yes, it could change. Whether you think that’s a big or small chance, and when it might happen is a personal decision.

      Reply
      1. jsdenn

        Apple covers very little after the initial 6 month period. Just buy a warranty from SquareTrade and get what you pay for. I am on my 4th iPhone in the last 7 years and SquareTrade has taken care of any problem I have had with my phone and any other item I have insured with them. Well worth it. Apple Care is pretty much a joke compared to SquareTrade.

        Reply
      1. GetToThePoints

        I understand, what I meant was, where is this documented so that if I go into a branch to apply and they don’t know what I am talking about I can point them in the right direction.

        Reply
        1. MileCards.com

          @GetToThePoints – You won’t find official documentation of branch deals online. Much as with Chase in-branch deals there are no official mentions online.

          Reply
  20. LXF

    In your opinion, is the process easier and more straightforward if the phone is simply lost, compared to trying to repair a damaged phone?

    Reply
    1. MileCards.com

      @LXF – Unfortunately a lost phone is not covered, only a damaged or stolen one. And if it is stolen you’ll need to file a police report.

      Reply
    1. MileCards.com

      @tom – No purchase receipt is needed. The coverage is based on paying your current month phone bill with the card.

      Reply
    1. MileCards.com

      @Alex – They ask you to submit a copy of your wireless bill to file a claim, so they will likely look to see you charged the full amount of the bill to the card.

      Reply
      1. Brenton

        It does have to be the entire bill. However, coverage kicks in the calendar month after you pay, so you don’t necessarily need to use the WF card on an ongoing basis. In my case, I paid August 28th, and that gave me coverage for the month of September. The process wasn’t smooth, but after about 4 calls and 3 emails, including a 3 way call to Verizon to verify the phone was used at the time of loss, I was able to buy a brand new phone out of contract for $25 plus $42 in sales tax.

        Reply
  21. Brenton

    I can verify personally (just got final word this morning that the check is on the way) that this is a fantastic option to replace a damaged phone. The single best part, since they cover up to $600/claim twice a year, I was able to get the LG G3 and buy it outright (with my Chase Ink at 5x points) and in about a week I’ll have a check for $575.

    The process was cumbersome, and tedious, but this is one of the best unknown values on an unknown card.

    (Also, if you sign up in the branch you can usually get a 20,000 point bonus on $1k spend in 3 months with the base card)

    Reply
  22. Conrad

    Does this only work for phone plans in America? Do you if it is covered if you pay your phone bill with a Wells Fargo credit card in Asia? Thanks!

    Reply
      1. Kevin

        1. What if I bought a phone in Tmobile paymentas, made the 1st down-payment, and for 2nd month I paid remaining balance of the phone.

        Will this phone be covered by wells Fargo?

        2. One of the exclusion says ” Cosmetic damage to the Cellular Wireless Telephone or damage that does not impact the Cellular Wireless Telephone’s
        ability to make or receive phone calls. ”

        my phone screen has few cracks on top part of screen, but I can make and receive call.

        Will this be covered?

        Reply
        1. MileCards.com

          @Kevin – It’s your monthly service bill, not the payment for the phone itself that triggers the coverage.

          And sounds like cosmetic cracks that don’t impact the operation might not be covered.

          Reply

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