Last updated on March 9th, 2021
American Express is adding cell phone protection to some of its most premium card offerings. The new protection benefit begins on April 1, 2021, and provides protection for repair or replacements of up to $800 per claim. Here are all the details of the new American Express cell phone protection benefit.
Amex Introducing Cell Phone Protection
Cell phone protection is a perk not normally found in the credit card market. Previously, Mastercard was the only major payment network to provide cell phone protection on its World And World Elite Mastercard products.
Now, however, American Express is offering cell phone protection insurance for some of its premium cards. Beginning April 1, 2021, Amex will offer up to $1,600 per year ($800 per claim) of protection for cellular phones whose wireless bills are paid with an eligible Amex card.
Eligible American Express Cards
Eligible premium Amex cards include:
Other eligible cards are the Platinum Cards from Goldman Sachs, Morgan Stanley, and Ameriprise Financial.
How Does Amex Cell Phone Protection Stack Up With Competitors?
American Express’s cell phone protection plan differs from Mastercard’s in the amount eligible cardholders can claim. Mastercard allows eligible cardholders to claim up to $1,200 per year ($600 per claim) for an eligible mobile phone that is lost, stolen, or damaged.
On the other hand, Amex is offering a maximum of $800 per claim, or $1,600, per 12-month period. However, keep in mind that American Express will also require a $50 deductible per claim, though this is standard. Other issuers may require as much as $100 in deductibles per claim.
Like other cellular and mobile phone protection plans, insurance is provided by New Hampshire Insurance Company, an AIG Company. There is no additional cost to the eligible cardholder, minus any deductibles or charges that might arise during the claim process. For more information about Amex’s coverage, check out the official guide to benefits at americanexpress.com/CPPTerms.
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