Up until 10 years ago, our cell phone ownership/usage was not that common.  Our cell phones looked a lot like  Zach Morrison’s phone off of Saved by The Bell and we probably carried it in a bag the size of a woman’s purse. Printers and copiers were enormous and extremely expensive and you would almost never find one in a home.  If you were lucky your parents had satellite TV (you remember… the dish in the back yard that you had to play around because it was usually stuck directly in the middle).  But today we have an unbelievable amount of electronic gadgets in our house.  For example, in my own home you would find:

• two desktop computers with monitors
• two laptop computers
• 1 printer
• one combination fax, scanner, copier
• three TVs
• 1 VCR
• one digital video camera with tripod for our home recording studio
• one audio mixing board, one microphone, one amplifier, two external soundcards, and a 500GB hard drive, all for our home recording studio
• two DVD players
• two ipods
• one satellite TV system with a 24″ dish on the roof
• two iphones

You may not have that many but I know some who have even more.  Electronics have boomed over the last ten years as the price for them has decreased just enough that the average Joe can afford them.

But are your electronics covered?  If something happened would you be able to turn around and replace them all?  There is a lot of misinformation today regarding electronics and how it is treated by insurance companies. Most people seem think their homeowners or renters insurance policies will cover their electronics.  WRONG…and unfortunately they won’t usually find out their wrong until they submit a claim.

Sure, some of the property is covered, but there are limits and exclusions that would shock you! And don’t forget that your policy deductible will also apply.

The reason I bring this all up?  I’ve found the solution!  I have our electronics insured thru Worth Ave Group.  After reading thru their site and saw that they’ll cover us against against accidental damage, fire, flood, theft and even natural disasters for a full calendar year, I was sold.  They were also cheaper than the rest companies selling electronic coverage.  Some of them wouldn’t insure our iPhones because they weren’t brand new, some wanted to sell me warranties instead of insurance (not a good idea) and the list goes on and on.  So, anyway, check out Worth Ave Group and see what you think.

Can you imagine where we’re we’ll in another 10 years?

Fact 1:  60 million cell phones are lost or damaged every year in the U.S. alone.  The odds that one of these cell phone users could be YOU is great.  Can you afford to be unprotected?

Fact 2:  The average cost of a new cell phone is between $300 and $700 depending on the phone and its features.   This can be torture on most of our pocketbooks.

My cell phone IS my life.  I can’t even imagine one day much less 1 hour without my cell phone.  It’s my lifeline and a connection to my family, friends, business relationships and others.   It is also my alarm clock, MP3 player, digital camera, address book, video camera, calendar, calculator, organizer, watch and much more.  If I accidentally forget my cell phone and leave it at home, I am compelled to leave work to go home and retrieve it or face a day of anxiety.  I am not complete without it…it’s my security blanket.  Therefore, cell phone insurance to me is a form of life insurance and I wouldn’t be caught dead without it.  No pun intended!   Even though cell phones have become more disposable they have become more sophisticated and expensive to replace if you experience a loss.

It all boils down to a few questions to ask yourself and then I think the answer will be self evident.   It depends on what cell phone you get, how badly you need your cell phone, and what the true cost of the replacement would be in the event that your cell phone is lost, stolen, drowned or damaged.

After extensive research, I have found a policy from Worth Avenue Group that fits my needs perfectly.

Here are a few specifics:

• Worldwide coverage
• $50 deductible per loss
• No maximum number of claims per calendar year
• Covers theft, fire, flood, natural disasters, lightning strikes and accidental damage.  Geez….what else could possibly happen?
• $45 per annual premium

Just remember, it isn’t necessary until you’re caught without it!