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Verizon Hikes Protection-Plan Premiums, Cuts Deductibles

Verizon customers who subscribe to the carrier's Total Mobile Protection plan will see a bit of a price hike beginning in the spring. The company has announced it will raise monthly premiums for the service from $11 to $13. However, that increase does come with cheaper deductibles across the board.

Photo Credit: Scott Olson/Getty Images

(Image credit: Photo Credit: Scott Olson/Getty Images)

Those who do need to file a claim for a lost, stolen or damaged phone will save some cash. Previously, deductibles were priced at $199, $149 and $99, depending on the device. Handsets such as the iPhone X and Galaxy Note 8, for example, fell into the most expensive tier, while the iPhone 8 and Galaxy S8 came in at $149.

Under the new structure, the $199 and $149 deductibles have been slashed by $50 and $60, to $149 and $89, respectively, while the formerly $99 deductible for low-end phones has also been reduced to $89.

These changes are set to take effect March 6 for current subscribers. However, those who aren't already enrolled before Jan. 25 will have to pay the new rate upon joining.

The announcement accompanies Verizon's expansion of Total Mobile Protection to support remote screen repair in more than 170 U.S. cities. If you'd prefer to visit a technician instead of having one come to your home or office, you have that option as well, with more than 300 authorized repair centers across the country. You'll even get reimbursed in the event you break your phone and need to get it fixed while abroad.

Overall, Verizon's plan is one of the most comprehensive and cost-effective out there, as our comparison between the leading phone insurance plans illustrates. However, you might also want to entertain coverage that comes directly from your device's manufacturer or is provided by a third party, such as SquareTrade.

And if you're shopping for a more rugged handset so as to avoid insurance altogether, you should probably take a look at our list of the most rugged and water resistant smartphones.