Nationwide insurance company Allstate has bought smartphone and tablet repair service iCracked. It already owned SquareTrade, which offers both gadget insurance and tech support …
The two companies both pointed to the benefits of an all-in-one service.
iCracked operates in 60-plus metropolitan areas in the U.S. and Canada. “Today’s consumers rely on connectivity to run their lives, and they can’t afford to wait for device repairs,” said Ahmed Khaishgi, President and co-founder of SquareTrade. “With our recent acquisition of PlumChoice, SquareTrade is uniquely positioned to protect the hardware and software that power our customers’ connected devices.”
“We are excited to join SquareTrade, a company that shares our commitment to delivering high-quality on-demand service to customers,” said A.J. Forsythe, iCracked CEO.
Live Insurance News said that rapid repair of tech devices is all but a necessity these days.
At the consumer level, the ubiquity of smartphones and the dependency upon them has meant that it simply isn’t possible for most people to leave their broken devices in order to wait for repairs. Even one day without those devices could be catastrophic for many people who need their phones for the proper function of both their personal and professional lives.
A few months ago, SquareTrade said that Americans break more than 5,000 smartphone screens per hour.
The report shared a sad, but fascinating fact: 5,761 smartphones are broken every hour in America. With about 50% of consumers underestimating repair costs, 65% opt to just live with a broken display, while another 59% choose to upgrade to a new device rather than pay for a repair.
Depending on whether iPhone owners need a full replacement or just a new display, the costs range from $199 up to $599 for a full replacement for the XS Max. The iPhone XR is a bit more reasonable to repair, but still more than most Americans anticipate.
It pays to shop around when looking for the best deal to protect your devices – or, indeed, whether it would make more sense to ‘self-insure.’ In the long-run, it can be cheaper to forsake insurance for things like smartphones and simply budget for occasional repairs or replacements.