Buying a new smartphone can set you back significantly. Americans spend an average of $634 on a phone, according to a 2025 survey from and premium models of the iPhone, Samsung Galaxy and other popular devices run more than $1,000. Those costs are likely one reason that people are hanging on to their phones for a while before upgrading, keeping them for nearly two years and five months, according to the Reviews.org survey.
To protect your pricey device, you can buy phone insurance. With these plans, which you may be able to purchase through your wireless carrier, the phone manufacturer or from insurance companies, you can submit a claim if your phone is damaged, lost or stolen. After you pay a deductible, which may range from about $50 to $250, you'll get a repair or replacement. Many insurance plans cost $10 to $20 per month.
