Tile launches new service that reimburses you up to $1,000 for lost items

Get reimbursed if Tile can't find your lost item.

What you need to know

• Tile has announced a new service called Premium Protect.
• The plan will reimburse subscribers up to $1,000 for lost items.
• It will cost $100 per year and launch later this fall.

Reported by Engadget, Tile has announced a new service called Premium Protect that will enable customers to receive up to $1,000 in reimbursement per year if Tile is unable to locate a lost item within seven days.

The new service is a step up from the currently available Premium plan, which alerts users if you have left an item behind. While the Premium service costs subscribers $30 a year, Premium Protect will cost $100 a year.

Premium Protect is essentially one step up from Tile's existing Premium plan, which includes smart alerts (these ping you when you've left something behind); free battery replacements; unlimited sharing; extended location history; an extended hardware warranty; and expanded customer care. But while the Premium plan runs $30 a year (or $3 a month), Premium Protect will cost you $100 a year.

According to the report, the new service will cover both Tile's own trackers as well as products that its technology is integrated with, such as SkullCandy headphones. To get an item covered by the service, you'll need to register the Tile and submit a photo of the product it is protecting.

The Premium Protect service will cover not just Tile trackers but also Tile-enabled partner products like SkullCandy earbuds and the HP Elite Dragonfly laptop. The service warranty is provided in partnership with Cover Genius, a company known for providing insurance and protection services for companies such as eBay, Booking.com and Wayfair. In order to have something covered by Premium Protect, you simply have to sign up for the service, register the associated Tile, take a photo of the item, and you're done.

Tile does note that its service is not insurance, so if it is able to locate your item, even if you are unable to retrieve it, you will not be eligible for reimbursement.

That might sound a little like insurance but, according to the company, it isn't. Instead, Tile says that Premium Protect is a service warranty on the Tile network, and not an insurance policy on the item itself. That's why if the Tile network is able to locate the item, but you're unable to safely retrieve it (say it's in the bottom of a ravine, or in a particularly dangerous area), then the company wouldn't be able to reimburse you for the item. But, if the Tile app gives you erroneous information like an incorrect address, or if you go to the location and are unable to ring your Tile, you can still file a claim for review.

The new service has been announced while rumors of Apple's AirTags continue to mount. In fact, there are rumors that AirTags may be coming alongside the iPhone 12 in October. When asked about Tile versus AirTags, Tile CEO CJ Prober stressed Tile's ability to work across platforms.

"Tile is for everyone," said Prober, when asked about Apple's AirTags. "Our customers aren't forced to choose a single platform and are advantaged by Tile being system-agnostic. We work with Android, Apple and other platforms people are already using and want to use to help find their lost stuff." Prober added that he welcomes the competition, as long as it's on a level playing field.

The service is not available just yet but is expected to launch this fall.