Cuomo signs law to expand insurance coverage for personal cellphones
Metro Creative Connection
Fri 23 Jul 2021 10:55
The legislation allows consumers to benefit from damage, loss and theft protection for these devices through their credit card, debit card or checking account
Says amendment to insurance law offers less costly way to protect wireless communications equipment
Governor Andrew Cuomo on Thursday signed a law (S.4483 / A.4672) that he says will give New Yorkers a new, less expensive way to get insurance protection for their cellphones through their credit cards. , debit card or checking account. Before the law was passed, state law did not allow credit or debit card issuers and banks to insure their customers’ wireless communications devices against damage, loss, or theft. .
“Cell phones are obviously a vital, necessary – and expensive – reality of modern life, and losing or breaking one can create real financial burdens, disrupt schedules and inflict aggravation on New Yorkers,” Cuomo said. “I am proud to sign these new consumer protections into law and offer more choice and potentially cheaper options for those looking to insure their device and avoid inconvenience down the line.”
Legislation signed by the governor amends the state’s insurance law to expand the coverage that a credit card issuer, debit card issuer, or bank can offer to its customers. The law specifically allows coverage to protect a cell phone and other wireless communications equipment if it is damaged, lost, stolen, or fails.
A press release said: “About 97% of adults in the United States own a cell phone of some kind, according to a recent study. Among them, about 85% of these people own a smartphone, and 15% depend on these devices for their broadband needs.
“Yet, due to the portable nature of cell phones, they are often prone to damage, loss, theft and mechanical failure. The guarantees for a person who suffers one of these insurance losses are often important given the high cost of a replacement device.
New York State Senator Neil Breslin said, “Cell phones and other wireless communication devices are essential elements New Yorkers need to fulfill their professional, educational and personal responsibilities. vital – and have become increasingly important lifelines during the COVID-19 pandemic. We have personally experienced this, the portable nature of cellphones also makes them vulnerable to damage, loss, theft and mechanical failure. Insurance protection is essential given the high cost of a replacement device. This legislation offers New Yorkers a new and less expensive way to obtain critical protection for their cell phones against unexpected loss through coverage provided to them, often at free or reduced fees with their credit card, card. debit and checking accounts. I applaud and thank everyone who joined me in making this added guarantee a reality for New Yorkers.
Assembly Member Kevin Cahill said: “This new law will provide an essential and inexpensive way to guard against these types of losses. I applaud Governor Cuomo for signing this important, consumer-centric law.