Does Chase Sapphire Reserve offer phone insurance?

Some good credit cards with cell phone protection include the Citi Prestige® Card, the IHG® Rewards Premier Credit Card, the U.S. Bank Visa® Platinum Card, all Wells Fargo consumer credit cards, the Ink Business Preferred® Credit Card, and the First Citizens Rewards Visa® Card.

Cell phone insurance isn’t commonly offered by major credit cards, but it’s certainly a welcome perk. Cell phones don’t come cheap, and some credit cards offer up to $1,000 in reimbursement for a stolen or damaged phone.... read full answer

Just remember that all credit cards with cell phone protection have the same rule: You must continuously pay your cell phone bill with the credit card, or else your phone won’t get coverage. To make sure your phone is covered, it’s best to set up automatic monthly phone-bill payments with your card as the payment method.

Here are some good credit cards with cell phone protection:

• Citi Prestige: Cell phone protection up to $1,000 per claim or $1,500 per year; limit of 2 claims per year; $50 deductible.
• IHG Premier: Cell phone protection up to $800 per claim or $1,000 per year; limit of 2 claims per year; $50 deductible.
• All Wells Fargo consumer credit cards: Cell phone protection up to $600 per claim or $1,200 per year; limit of 2 claims per year; $25 deductible.
• U.S. Bank Platinum: Cell phone protection up to $600 per claim or $1,200 per year; limit of 2 claims per year; $25 deductible.
• Chase Ink Preferred: Cell phone protection up to $600 per claim; limit of 3 claims per year; $100 deductible.
• First Citizens Rewards Visa® Card: Cell phone protection up to $500 per claim or $1,000 per year; limit of 2 claims per year; $50 deductible.

None of these credit cards cover phones that are lost, as opposed to stolen. Some cards also have specific stipulations for what is and is not covered. So, make sure you’re up to speed on your card’s specific rules.

The Chase Sapphire Reserve purchase protection covers you for up to $10,000 per item if something you buy with your Chase Sapphire Reserve card gets lost, stolen or damaged within 120 days of purchase. Chase will repair the item, order you a new one or give you a refund, whichever is cheaper. The annual coverage limit is $50,000.... read full answer

There are several restrictions on what kinds of items are covered. For example, antiques, motorized vehicles, and living plants and animals are not eligible. Plus, to get reimbursed, you need to mail in a completed claim form within 120 days of a loss. It’s always good to read the fine print, and Chase Sapphire Reserve purchase protection is no exception. I’ll walk you through the important details below.

Here’s what you get from Chase Sapphire Reserve purchase protection:

• You are covered for theft, damage, and accidental parting. Accidental parting means you know where the item is, but you can’t get it back.
• To be covered, an item must have been paid for, at least in part, with your Chase Sapphire Reserve card or Chase Ultimate Rewards points.
• Gifts you buy for others qualify for coverage, so long as you charge them to your Chase Sapphire Reserve card (or use points) and the item is otherwise eligible.
• Chase offers purchase protection in addition to any insurance you have. That means you’ll need to file an insurance claim if possible, and submit documentation of the claim and any compensation you received to the Benefit Administrator.
• Items that you buy to resell are not covered. Neither are purchases damaged or lost in delivery. Other items that don’t qualify for coverage include animals, living plants, antiques, collectibles, motorized vehicles, computer software, cosmetics, checks, medical equipment, used goods, and pre-paid cards.
• If you’re making a claim for a damaged purchase, you will usually need to keep the item to send it in.

Here’s how to file a Chase Sapphire Reserve purchase protection claim:

1. Contact the Benefit Administrator at (888) 675-1461 within 90 days of the loss.
2. The Administrator will send you a claim form, which you need to fill out and return within 120 days of the loss.
3. If Chase decides to repair your item, you will be notified of the decision within 15 business days of sending in documentation. You’ll then need to send the item to the Benefit Administrator, and pay for the shipping yourself.
4. If you’re getting reimbursed, the credit should show up in your account within 5 business days of getting all your paperwork in.

Chase Sapphire Reserve purchase protection gives you some extra peace of mind and, maybe, some extra cash. Just make sure you save your receipts, and pay attention to the claim deadlines.