Q. What does my phone insurance cover? Q. What does my phone insurance cover? September 13, 2016 1111 The insurance we provide covers damages on the actual phone, such as cracked screens and water damage. You will only be liable for a $25 deductible. Note: The insurance does not cover accessories. 0 Newer Q. What is the security authorization charge on my credit card? View all posts Older Q. If I choose to ship to out of NY State, will I be charged state tax?