How Chase Ink Business Preferred Cell Phone Protection Works

Filed Under: Chase, Credit Cards
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The Ink Business Preferred® Credit Card (review) is one of my all around favorite business credit cards.

There’s so much to love about this card, from the massive welcome bonus, to the 3x points bonus categories, to the excellent car rental protection, to this card being an excellent hub for earning Ultimate Rewards points.

In this post I wanted to focus specifically on one of my favorite benefits of the card, which is the cell phone protection. How exactly does this benefit work?

Ink Business Preferred cell phone insurance

Probably my single favorite benefit of the Ink Business Preferred Card is the cell phone protection it offers. Given how expensive smartphones are nowadays, this is a benefit that could prove especially beneficial for many.

In this post I wanted to look at how this benefit works in more detail.

What is the Ink Business Preferred cell phone protection benefit?

With this benefit, those with the Ink Business Preferred Card can get up to $600 per claim in cell phone protection against covered theft or damage for you and your employees listed on your monthly cell phone bill.

In order to take advantage of this you need to pay your cell phone bill using the Ink Business Preferred Card, and you’re limited to three claims in a 12 month period, with a $100 deductible per claim.

The Ink Business Preferred cell phone protection is supplemental to any other insurance you may have on your cell phone.

Also keep in mind that the Ink Business Preferred offers 3x points on phone services, meaning that when you use this card to pay your monthly cell phone bill you’re earning bonus points as well.

Who is eligible for the cell phone protection benefit?

To be eligible you need to charge your monthly cell phone bill to the Ink Business Preferred. The coverage is effective the day following your cell phone monthly bill payment, and remains in effect until the last day of the calendar month following the payment.

You don’t receive this benefit if you pay your monthly cell phone bill with another card. However, there’s no requirement to have actually purchased your phone with this card.

What isn’t covered with the cell phone protection benefit?

The following are some of the things not covered as part of this benefit (I’m copying this from the benefits guide, to be thorough):

  • Cellular wireless telephone accessories other than standard battery and/or standard antenna provided by the manufacturer.
  • Cellular wireless telephone purchased for resale.
  • Cellular wireless telephones that are lost or “mysteriously disappear.” “Mysterious disappearance” means the vanishing of an item in an unexplained manner where there is absence of evidence of a wrongful act by a person or persons.
  • Cellular wireless telephone under the care and control of a common carrier (including, but not limited to, U.S. Postal Service, airplanes, or delivery service).
  • Cellular wireless telephone stolen from baggage unless hand-carried and under Your personal supervision, or under the supervision of Your traveling companion who is previously known to You.
  • Cellular wireless telephone which has been rented, leased, borrowed or cellular wireless telephones that are received as part of a pre-paid wireless service plan or “pay as you go” type service plans.
  • Cosmetic damage to the cellular wireless telephone or damage that does not impact the cellular wireless telephone’s capabilities and functionalities of the phone.
  • Damage or theft resulting from abuse, intentional acts, fraud, hostilities of any kind (including, but not limited to, war, invasion, rebellion, or insurrection), confiscation by the authorities, risks of contraband, illegal activities, normal wear and tear, flood, earthquake, radioactive contamination, or damage from inherent product defects.
  • Damage or theft resulting from misdelivery or voluntary parting with the cellular wireless telephone.
  • Replacement cellular wireless telephone not purchased from a cellular service provider’s retail or Internet store, (for example: Verizon Wireless, Sprint Wireless, etc.) or from an authorized cellular phone retailer.
  • Taxes, delivery and transportation charges, and any fees associated with the cellular service provider.

How do you file a claim for the cell phone protection benefit?

To start the process of filing a claim, you’ll want to call the benefit administrator within 60 days of the incident. After you call you’ll be sent the claim form, which must be completed within 90 days of the incident.

You’ll need copies of your card statement reflecting your monthly cell phone bill payments during the time of the damage, and a store receipt for the purchase of your replacement cell phone, if applicable.

Depending on the circumstances, you’ll then either have your phone repaired or replaced, or will be reimbursed for the lesser of $600 (minus the $100 deductible) or the current suggested retail price of a replacement phone that’s a similar quality to what you have. Reimbursement should occur within 10 business days of the approval of your claim.

What other credit cards offer cell phone coverage?

If you don’t have the Ink Business Preferred Card, what other credit cards offer cell phone protection? There are a couple of other options:

  • The Uber Visa Card is a no annual fee personal card, and offers up to $600 in supplemental insurance coverage against theft of, damage to, or involuntarily and accidental parting of your cell phone not otherwise covered by another insurance policy
  • The Citi Prestige Card is a $495 annual fee personal card, and offers up to $1,500 in yearly benefits for up to five phones on your monthly bill

The catch with both of these cards is that neither offers bonus points when paying your cell phone bill, so there’s quite an opportunity cost to taking advantage of the benefits.

Compare that to the Ink Business Preferred, which offers 3x Ultimate Rewards points on those purchases. I value Ultimate Rewards points at 1.7 cents each, so that’s like a 5.1% return.

Being able to earn a good return on cell phone spending while also having coverage is a real sweet spot, in my opinion.

However, the downside is that the card offers 1% cash back on your cell phone spend, so to me it’s not worth forgoing all of those points in order to get the coverage. It’s also not a card that I otherwise find to be terribly useful.

Bottom line

The cell phone protection benefit on the Ink Business Preferred Card could prove to be hugely valuable.

The benefits are fairly straightforward, though the main things to keep in mind are that the benefit only applies to you and your employees, you need to charge the cell phone bill to your credit card, you need to have bought your phone new, and if your phone was stolen you’ll need a police report filed within 48 hours of the incident.

If you meet the above terms, this could easily be one of the most valuable credit card perks out there. For full details, see the Ink Preferred benefits guide.

Has anyone used the Ink Business Preferred cell phone protection benefit? What was your experience like?

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Comments
  1. The Wells Fargo Propel Card also offers cell phone coverage, but is a better deal because it’s both a consumer card (easier to get) and carries a $0 annual fee. Coverage isn’t as good at the Ink, but for a no fee consumer card it’s excellent.

  2. When I read articles touting insurance awesomeness, I wonder how many have actually redeemed this benefit. I have found Chase’s benefits administrator to be real asshats when it comes to deciding something doesn’t meet their terms.

    Remember: insurance is a for-profit business. And fulfilling claims works against that goal. 😉

  3. Citibank Thank You Premier also offers this benefit. Am going to try it once Apple Store opens because my iPhone broke.

  4. Chase’s benefits administrator is probably one of the worst claims administrators on the planet. They operate on a philosophy of creating as many obstacles as possible to encourage you to give up and abandon a legitimate claim. There is no accountability for their actions and Chase refuses to take any responsibility. When you contact Chase they just say it’s all Visa’s problem. So that leaves you 3 parties to try and turn to if anything goes wrong and not one takes ownership of resolving anything. I’ve used Chase’s benefits administrator for 3 legitimate small claims over the years but the amount of effort it took me was unreasonable.

  5. I’ve tried to claim a phone that was stolen. I gave up once they requested unreasonable amounts of documents.

  6. I paid $165 out of pocket for a replacement of a cracked screen on an iPhone 6s from Apple that was covered by this chase ink phone insurance. After jumping through many hoops including having to email the CEO of my wireless carrier for proof the phone was activated on the date of the incident they finally paid out by a check in the mail. The total of that check. $49!!! Yup. On a $165 repair I was reimbursed $49 of those dollars since they won’t cover sales tax on the repair and of course the $100 deductible. I was super annoyed and immediately switched to charging my monthly wireless bill to my Citi Prestige in hopes that the $25 deductible and $1,000 limit will serve me better than the BS that assurion on behalf of Chase put me through. Very disappointing experience.

  7. If I read this correctly it sounds like my iPhone would not be covered under the above Chase rules as I am on the Apple iPhone Upgrade Program. I did not make the outright purchase of my 11 Pro in full but pay for it monthly and upgrade every year to a new phone. I believe my wife’s iPhone 11 would be covered as she purchased it outright and I pay both of our cellular bills with the Ink Preferred.

    Am I correct in my understanding?

  8. First,someone named “Jose” from Insurance denied coverage,so I called Chase they confirmed that since I have Ink Business,I am covered,But they want me to take the phone to Apple,which is closed,spend a Hundred Dollars,then submit troves of Paperwork.
    Not worth having this Insurance as a Benefit!

  9. “Replacement cellular wireless telephone not purchased from a cellular service provider’s retail or Internet store”

    So this doesn’t work if you purchase a phone from e.g. OnePlus or another unlocked phone that you take to your provider?

  10. I used this benefit earlier this year. After returning from vacation, my iPhone X was unable to get a signal unless I was right next to a tower. After running through every possible diagnostic with Verizon and Apple I had the Apple store write an estimate stating that the phone should be replaced, and quoting the price for a refurbished phone of the same model. I then purchased a new phone (11 pro). I sent the estimate along with the serial number of my old phone using Chase’s web site, and received payment within a week. I even was able to trade the old non-working phone in, meaning my cost to upgrade was minimal.

    I can’t say this will be everyone’s experience, but I did not have any trouble whatsoever- even though I didn’t actually repair the phone in question but rather purchased a new one. I have the Ink Preferred solely for this insurance, as I have five lines of service on it and do not wish to pay the outrageous fees Verizon or Apple would charge for 5 lines.

  11. I have the same question as Mr. Rivello, I am in the iPhone upgrade program and doubt the ink policy covers me but would like a confirmation.

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