State Farm Ceased Phone Insurance

Discussion in 'The Lounge' started by mrootes, Nov 10, 2010.

  1. mrootes

    mrootes Well-Known Member
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    May 2, 2010
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    My agent just informed me that State Farm Indiana policy holders are no longer being offered phone insurance. I got mine insured right before they stopped taking policies. They will honor any claims I make for the time I own my phone but I cannot insure a new one.

    I can see why they dropped it:

    Zero deductible
    $39 per year
    I go buy new phone, they reimburse me same day from local office
    Coverage for ANYTHING - water, theft, damage (except phone failure)

    Apparently there was too much fraud related to the claims. I'm good till I upgrade in 18 months, but something better than Assurian has better come along by then.
     

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  2. sdrawkcab25

    sdrawkcab25 Well-Known Member
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    Aug 5, 2010
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    IMO, with so many people switching to smart phones that insuring phones has become too risky for insurance companies without implementing policies similar to Assurion. Like you said, a lot of room for fraud in a policy like the one you have.
     
  3. Martimus

    Martimus One bite at a time...
    Moderator
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    Jul 9, 2010
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    Interesting... I'd have never even thought of State Farm insuring a cell phone.
     

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