Smartphone Kill Switch Could Save Consumers $3.4 Billion a Year

While the debate for mandatory kill switches on smartphones continues, a new research study from Creighton University indicates that doing this could save U.S. consumers $3.4 billion a year.

Dr. William Duckworth of the Heider College of Business surveyed 1,200 smartphone users to learn more about the average cost of cell phones and cell phone insurance. He found that 99% of them felt their wireless providers should offer an option to disable their phones if stolen. 83% felt kill switches would reduce theft, and 93% felt they should not have to pay extra money to disable a stolen phone.

Dr. Duckworth determined Americans spend approximately $1.1 billion per year replacing stolen phones and another $5.5 billion in premium cell phone insurance. By eliminating the need to replace stolen phones and allowing people to switch from premium insurance to basic insurance, consumers could save $3.4 billion a year.

“Overall, it seems clear that Americans want the Kill Switch and that an industry-wide implementation of the technology could significantly improve public safety and save consumers billions of dollars a year,” said Dr. Duckworth in the report.

About Lynn Oldshue

Lynn Oldshue is a PR professional who has worked with the Birmingham Zoo, Coca – Cola , the Alabama Theatre, and the Saenger Theatre. She has covered personal finance issues for 10 years. Lynn can be contacted at [email protected]