What does Wells Fargo cell phone insurance cover?

The Wells Fargo cell phone insurance covers cardholders up to $600 for a stolen or damaged cell phone, as long as the cardholder pays the phone’s monthly bill with a Wells Fargo consumer credit card. The maximum Wells Fargo cell phone protection coverage amount is $1,200 per year, as you can file up to two claims annually. There is a $25 deductible per claim. All Wells Fargo consumer credit cards offer cell phone insurance as part of their benefits package.

Here’s how Wells Fargo cell phone insurance works:

• Coverage: Up to $600 per claim. Wells Fargo will pay for either the value of the phone or a similar replacement, minus a $25 deductible.
• Limits: Two claims (up to $1,200 in total coverage) every 12 months.
• Requirements: You must pay your monthly cell phone bill with your Wells Fargo consumer credit card. Wells Fargo debit cards and business credit cards do not offer cell phone protection.
• Duration: Coverage begins on the first day of the month after you pay your cell phone bill with an eligible Wells Fargo credit card. You need to pay your bill with a Wells Fargo card each month to be covered for the next month.
• Exclusions: Wells Fargo cell phone insurance does not apply to rented, borrowed, or prepaid phones. It doesn’t cover lost phones, either.
• Claims Process: To file a claim, you need to call the benefits administrator at (866) 804-4770 within 60 days of the theft or damage. Claims will be processed within 10 days.

To sum up, Wells Fargo phone insurance protects you against theft or damage and will pay for repairs or reimburse you for the phone’s value up to $600. Just remember to pay your cell phone bill with your Wells Fargo consumer credit card, and your coverage will kick in starting the next month.