Bang for your Buck: Replacing your smartphone - WMC Action News 5 - Memphis, Tennessee

Bang for your Buck: Replacing your smartphone

(WMC-TV) – A new smartphone isn't cheap and usually comes with a 2 year contract, but what many people don't realize is that you'll have to pay a lot more if you drop it, break it, or lose it.

That's because replacement phones don't come at a discount! Andrew Douglas shows you how to get the best Bang for Your Buck if you have a damaged smartphone.

Smartphones like the iPhone and Droid are expensive, but they're even more expensive if you break or lose one, as Dave Gregory learned after buying his two teenagers new smartphones.

"Within two weeks, both of them had dropped their phone, simple drops, fumbling to get a call," Gregory said. "It fell to the floor a couple of feet and the screen shattered."

If your phone is broken, lost, or stolen, you can't get a new one for $199, which is why insurance can be a good bang for your buck!

Bob Flynn with Verizon Wireless said, "Insurance is a good option for the consumer, because it's $199 the promo price, but if you lose it without the insurance, it's close to $700 for replacement of a 16 gig."

Verizon, A T & T, and other carriers offer smartphone protection plans for about $10 a month, though you'll still pay a deductible between $150 and $200 for a new phone.

A third party plan with good reviews is Square Trade. They offer a plan costing $99 for 2 year protection on an iPhone or Android with a $75 deductible.

Many tech websites recommend Apple's Apple Care Plus for iPhones. Apple Care is also around $99 for 2 years, with a $79 deductible per incident.

Your homeowner's policy may provide coverage too, so check with your insurance company, and your phone provider. If one of them offers a better rate, sign up and get more Bang for Your Buck!

If you have an idea for Andrew's Bang for Your Buck segment, contact him via his Facebook or Twitter page or email

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