(PRWEB) November 02, 2011

Consumers must take the time and effort to educate themselves prior to purchasing an extended warranty or insurance for their consumer electronics including the new iPhone 4S. There are many factors to evaluate including the cost, coverage, claims process, and the provider.

One of the considerations is what the coverage is actually costing. Currently, mobile phone carriers entice customers with low monthly premiums, ranging from $ 7 to $ 12 with a high deductible of up to $ 199 every time you file a claim. The monthly premiums add up to about $ 288 for two years of coverage plus up to $ 200 for the deductible for a smart phone for a total out of pocket cost of about $ 488 to insure a smart phone with only one claim. Imagine paying $ 199 deductible every time a claim had to be filed. Securranty, an alternative to the phone insurance offered by cell phone carriers, offers savings of up to 70% in savings along with a monthly installment option without interest or credit check and a low deductible of $ 50.

The second consideration is the coverage offered for the cost. The number of claims allowed over the life of the policy in addition to types of damage covered or excluded is an important comparison. Many providers do not clearly disclose the exclusions or the limits on the number of claims or the deductible. Take the time and effort to pick up the phone and call the provider with specific questions regarding the number of claims and exclusions. Securranty provides comparison data on different warranty providers on its Get Smart page or on the product page.

The claims process is another very important factor in choosing your extended warranty or insurance provider. All warranty providers at the end of the day will repair or replace the phone as per the terms and conditions. The question or the difference is how quickly the phone is repaired. Cell phone carriers may overnight a replacement phone, new or refurbished, the next day. However, this quick service costs up to $ 199 in deductible every time a claim is filed and premium paid over 2 years of up to $ 268. The cost can add up really fast if there is more than one claim in the policy period. Comparing to Securranty, the premium of $ 89 for 2 years with a $ 50 deductible provides substantial savings, but claims are processed in 3-5 days. The decision is over savings versus speed. If saving money is more important then having a phone replaced the next day, consider the use of a spare phone lying around the home or buy a spare phone with the money saved.

Another difference between Securranty and other providers is that they provide options