Wells Fargo Cash Wise phone insurance provides up to $1,200 in reimbursement every 12 months if the cardholder’s cell phone is damaged or stolen. The coverage is up to $600 per incident and $1,200 within a 12-month period. To be eligible, a cardholder must pay their cell phone bill using the Cash Wise card. In addition, Wells Fargo will charge a $25 deductible for each claim.
There are a few other pieces of fine print to be aware of. Firstly, the Wells Fargo Cash Wise phone insurance coverage does not apply if you lose your phone. If your phone disappears, you’re only supposed to make a claim if you believe it was stolen. Plus, phones that are rented, borrowed or “received as part of a prepaid plan” do not qualify for coverage. And while you can make a claim for a damaged phone, “electronic failure” and software problems do not receive coverage. There are some other exclusions too, so make sure to read through the full list online.
It’s also important to note that Wells Fargo Cash Wise phone insurance is secondary coverage. That means if you have another insurance policy that covers your cell phone, you’ll need to file a claim through that first. Once you’ve made that claim, you’re then free to submit a claim to Wells Fargo to see if they’ll offer further coverage. If you have no other insurance policy, you can go through Wells Fargo immediately.
To file a claim, call 1-866-804-4770 within 60 days of a covered incident to ask for a claim form. Then, return the signed claim form within 90 days of the incident. You will also need to include other requested documents such as a copy of your cell phone billing statement, any claims you made through primary insurance providers, and a police report if applicable.
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