U.S. Bank has added cell phone insurance on their Visa Platinum card. Interestingly it doesn’t seem like this benefit has been added to the new premium Altitude Reserve card.
Coverage & Restrictions
Coverage & restrictions are as follows:
- Must pay your cell phone bill every month using your U.S. Bank Visa Platinum Card
- Coverage begins the first day of the calendar month after you make a payment. For example if you made a payment on May 2nd you’d be covered beginning June 1st.
- Coverage includes damage and theft. Phones need to be purchased outright as “Cell phones which have been rented, borrowed or are part of a pre-paid or “pay as you go” type plans” are not covered
- You’re covered up to $600 with a $25 deductible
- You can make up to two claims per 12 month period ($1,200 limit)
- Your phone nd up to three additional phones are insured
- More details can be found here.
- U.S. Bank Platinum does not have an annual fee or rewards program
How To Make File A Claim
There are two ways to file a claim:
- Online at cardbenefitservices.com
- By calling 866.894.8569
You’ll need to provide the following:
- The completed signed claim form.
- A copy of your monthly credit card statement (showing the last 4 digits of the account number) demonstrating that the entire monthly payment for the cell phone bill was made the month prior to the date of damage or theft.
- A copy of your cellular wireless service provider billing statement that corresponds with the above credit card statement.
- A copy of the device summary page from your cell phone provider or other sufficient proof of the claimed cell phone model linked to your cell phone account. Eligible cell phones include the primary line and up to the first three supplemental lines based on the order in which the line was activated by the Cellular wireless provider.
- If the claim is due to theft or criminal action, a copy of the police report filed within forty-eight (48) hours of the event.
- Additional information may also be required, see Guide to Benefits PDF for terms and conditions.
If you’re phone is stolen you must file a police report within 48 hours of becoming aware. You then must contact the benefit administrator within 60 days and submit your completed forms and supporting documentation within 90 days.
Our Verdict
Chase, Wells Fargo & FNBO all also offer cell phone protection. You can read our comparison (I’ve just added U.S. Bank to this comparison) by clicking here. I don’t think this new offering from U.S. Bank is enticing at all as pay as you go plans aren’t covered and the card doesn’t offer rewards. I’d still recommend people either go for Wells Fargo/Chase for this type of protection.
Hat tip to reader Jason
It looks from coverage details as though this is the same administrator as the Wells Fargo phone ins. Any idea if it is possible to switch to us bank coverage after having 2 phones replaced under Wells Fargo plan? My daughter dropped her phone and 1 month later- mine had water damage. Both were replaced by WF ins. Having now maxed out WF coverage for 11 most (2 claims/year) I’m thinking of switching bill pay to US bank so we’ll still be covered. With 2 teenagers in the home as well as myself and husband it’s nice to know we are covered. If I start paying my TMobile bill with US Bank CC, will prior WF claims count against us in the event something happens to another phone within the next 11 most?
Thanks-
Linda
Just called US Bank and they will let you switch your Flexperks to the Platinum. I have several Flexperk earning cards and all the points go to a single Flexperks accounts. Anyone know if I´d lose any of my points by converting one of the cards?
I doubt you would
What if one uses FreedomPop and has no monthly bill to pay?
This would be useful it was available on cash+ (5% off + insurance), it actually seems kind of counterintuitive that it isn’t.
I wonder if pay as you go or prepaid includes Cricket or Fi? Cuz you pay up front on a monthly basis (and are refunded with Fi). I think Fi even let’s you suspend service for a couple months at a time.
I see this being killer if it could be combines with the Cash+ (5% category).
I have Club Carlson business card. Does this qualify?
No, Platinum card only.
so basically useless as no one in their right mind should be on a post-paid plan now.
Most people are on post paid plans. This is the most common type of plan from all major wireless carries, which simply means you pick a plan and pay for said usage at the end of the month. Whether with a contract (like AT&T and Verizon) or no contract (like T-Mobile), although it is possible to be contract free with any carrier.
Most people are idiots.
Depends on what you are doing. In a state with high cell taxes, it’s hard to beat Cricket on a family plan. But I can understand why someone might need the coverage, performance, and roaming provided by a larger carrier. Though Fi is hard to beat if you need roaming and are savvy enough to control your data usage (not everyone in my family is).
If you have a plan where your phone cost was included in the plan over a 24 month period, and you have completely paid off the phone. Would that count? Unclear what is meant by pay as you go. The plan im talking about is essentially a 0% financing for the cost of the phone but you still own it outright.
Pay as you go is when you pre-pay for minutes on your phone in advance, like with Net-10, Tracphone, and Boost Mobile.
Your phone should qualify as you own it outright, and are not renting or required to return it. Your carrier is essentially loaning you the money to buy it.
Ah ok, that makes more sense I guess.
Do Visa Signature cards like Club Carlson get this benefit?
As mentioned in the post, only available on their Platinum card.