Verizon offers several different phone protection or insurance programs. Here’s the rough monthly prices for single-line protection on an iPhone 14 (updated April 2023):
- $17 – Verizon Mobile Protect
- $11 – Total Equipment Coverage
- $7 – Wireless Phone Protection
- $5 – Extended Warranty
Let’s run through each of those in reverse order.
Verizon’s extended warranty covers mechanical issues, electrical problems, and battery failures after the original manufacturer’s warranty expires.
Wireless Phone Protection
Verizon’s Wireless Phone Protection program offers coverage for phones that are lost, stolen, accidentally damaged. It also includes coverage for post-warranty defects.
The plan includes a deductible that varies by phone model. When I checked a few devices, I found that recent flagship phones had deductibles of about $200. My favorite budget-friendly phone, the Motorola G7 Play, had a deductible of only $9. You can look up the deductible for your phone model here.
The Wireless Phone Protection also includes coverage for cracked screens. Rather than paying the regular deductible, screen repairs come with a $29 fee regardless of a phone’s model.
In my view, the Wireless Phone Protection plan offers the best bang for the buck for most customers purchasing insurance.
Total Equipment Coverage
The Total Equipment Coverage plan offers everything in the Wireless Phone Protection plan plus coverage for battery failures on select phones.
Verizon Mobile Protect
Verizon Protect offers everything included in the Total Mobile Protection plan. Verizon Protect subscribers will also get access to Verizon apps that may be used to filter spam calls or enhance digital security.
2023 update: It seems Verizon doesn’t always present all of the options for device protection. If you’re having trouble finding some of the protection plans mentioned here, try to add a phone to your cart and decline device protection initially. Find the item in your cart and click the “Learn More” link in the device protection section. Hopefully that link will bring you to a page where you have a more complete list of protection options.