Verizon offers three levels of warranty that can be billed monthly to your account. Looks like you are not guaranteed to get a replacement of the same make/model of phone if one is not available but it does cover the phone being lost or stolen.
Calling Features: Total Equipment Coverage ? now with Mobile Recovery
1. Total Equipment Coverage* offers combines the benefits of Asurion?s Wireless Phone Protection with the Verizon Wireless Extended Warranty program and is now enhanced with Asurion?s Mobile Recovery on compatible devices. If your device or covered accessories are lost, stolen, damaged or experience a mechanical or electrical defect after the manufacturer?s warranty expires, you are protected.
Advanced Devices
$6.99 per month per covered device. ($83.88 - 1 yr, $167.76 - 2 yr)
$99 non-refundable deductible per approved claim.
2 replacements in a 12-month period with an equipment maximum of $1500 per claim (in New York, 2 claims per policy year)
Replacement devices may be remanufactured equipment. If the same model is not available, a comparable model will be provided. You may cancel at any time and receive a prorated refund of your monthly fee.
2. Asurion Wireless Phone Protection Asurion, a third-party licensed insurance agency, offers insurance coverage for your wireless device and certain standard accessories. If you have Wireless Phone Protection and your device is lost, stolen or accidentally damaged (including liquid and physical damage), you may file your claim with the Asurion within 60 days of the incident and the device will be replaced upon claim approval. To make an insurance claim online or to obtain Asurion?s Wireless Phone Protection Brochure (including all terms and conditions), please visit Asurion's website or call Asurion at (888) 881-2622. Asurion Wireless Phone protection is part of Total Equipment Coverage and is also sold separately.
Advanced Devices
$5.18 per month per covered device. ($62.16 - 1 yr, $124.32 - 2 yr)
$99 non-refundable deductible per approved claim.
Equipment maximum limit: $1500 per completed claim.
For a list of equipment in the Phones and Advanced Devices programs, please visit Asurion's website or call Asurion at (888) 881-2622.
Claim Limits: 2 Claims in a 12-month period (In New York, 2 claim limit is per policy year).
Asurion may fulfill claims with new or remanufactured equipment. In general, claims are fulfilled with the same make and model you claim. If this is not possible, a like-kind make and model will be substituted. Color, feature and accessory compatibility are not guaranteed.
Cancellation Policy: You may cancel your coverage at any time and receive a pro-rated refund of your unused premium.
3. Extended Warranty* provides convenient coverage against mechanical or electrical defects after the manufacturer?s warranty expires. You will receive a Certified Like-New Replacement of the same or comparable model. The monthly cost is $1.99 per device. Verizon Wireless Extended Warranty is part of the Total Equipment Coverage bundle or sold separately.