New law allows card issuers and banks to insure cell phones

ROCHESTER, N.Y. (WHEC) — New Yorkers will soon have access to a less expensive way to insure their cell phones.

Gov. Andrew Cuomo Thursday signed legislation that will allow consumers to receive insurance for damage, loss and theft of their cell phones through their credit or debit card or checking account.

Card issuers and banks were not allowed to insure phones before this law.