American Express Membership Rewards - Cel phone insurance

I took a quick look at my plat guide but couldnt find anything about this but one of my friends said if i buy a wireless phone with my card amex will cover the insurance for lost/stolen/damage/replacment so i dont have to buy the add'l coverage from the carrier. Is this true?
Thanks,

I imagine your friend is referring to the Purchase Protection Plan "When a Platinum Card member charges a covered purchase with their Card account, the Purchase Protection Plan protects that item for up to 90 days from the date of purchase if it is stolen, accidentally damaged (including vandalism) or lost. The coverage is limited to $10,000 per Occurrence, up to $50,000 per Card member account per policy year, and is in excess of other sources of indemnity." Plus the Buyer's Assurance Plan "When you purchase covered items and pay for them entirely with your Card, the Buyer's Assurance Plan extends the terms of the original manufacturer's warranty on eligible items for a period of time equal to the original manufacturer's warranty up to one additional year on warranties of five years or less that are eligible in the United States."

It would appear that after the first 90 days you are not covered against lost, stolen or damaged phone.

dennis

Thanks, i was thinking it was either that or the extended warentee. But neither really replace the total coverage a carrier offers.

The "total coverage" offered by most carriers is pretty poor. T-Mobile, for example, has a $50 deductible. You basically have to lose or destroy the phone early in the year for it to be cost-effective. By the end of 11 months the $50 + premiums is more than the cost of a replacement phone as an upgrade.

That is true for most phone, but like my treo has a ~$600 replacment price tag, it becomes much more worth it, should that break even with the $50 dudctable.