Probably the best perk of the new Chase Ink Preferred credit card is the cell phone insurance that comes along with it. This is a card that could be worth keeping year to year solely for this one benefit!
As long as you pay your monthly cell phone bill with the card, you plus any other employee that is on the bill will automatically be protected against cell phone damage or theft. Up to 3 times in a given 12-month period, you can receive p to $600 reimbursement if anything happens to your phone! The only catch is that you’ll have to pay a $100 deductible. So that means you will ultimately receive up to $500 back if you need to purchase a new phone!
Remember though, the coverage is only extended to “employees” on your monthly bill. Personally, I am not sure how they differentiate employees of your business vs. family members. If you have any experience with this, please feel free to comment below!
Things to know…
- You DO NOT have to purchase your cell phone with this card, just pay your monthly bill with the card
- You are not covered if you lose your phone, only if it is damage or stolen
- Only new phones are covered, not those purchased used or refurbished
- You must file a claim within 60 days of the incident, if your phone was stolen you’ll need to file a police report within 48 hours