Cell phone insurance

[shmoore]

I bought an iPhone today and want to know if you think I should take insurance and with whom. It is $10.95 a month with Verizon. Does anyone have insurance with a second party vendor who will replace your phone in a day or two after you report the loss or damage? Thanks guys, you always give good advice.

 

[loafingcactus]

Insurance is for things you cannot easily afford to replace yourself without damaging yourself financially. IMHO, if that's a $500 cell phone then one should not own a $500 cell phone.

Note that at the rate being charged, you are paying them for an entire replacement phone over four years... Crazy.

 

[Big Matt]

I somewhat disagree with the last post. These $500 devices are a lot more than phones. In fact they are almost as powerful as a laptop computer.

I think you should take three things into consideration:

1) insurance cost - $10.95 sounds high to me. My son has an Android with Verizon and pays $5.99 per month. Even so, it will be a better than break even unless you keep your phone for three years or more.

2) How much you use it, abuse it, or lose it should steer your decision. This insurance pays for pretty much everything (except for water damage). Note: if you even do have water damage, just "lose" the phone.

3) How long will you keep the phone. Usually Verizon lets up upgrade every two years for a substantial discount.

My business partner goes through phones like water. The insurance is well worth it because they are close to $500.

Hope that helps.

 

[am1]

Your insurance will be paying for fraud and carelessness from other people.

 

[senorak]

My 21 yo son bought a Verizon I-phone right before leaving for college, (he's on my "family plan"). I made him take out, (and pay for), the insurance. As you mentioned, it was almost $11/month.....or $150 for the 2 year plan. He paid the $150 upfront. With the cost of the I-phone, and knowing my son.....and being in a college environment....felt the insurance was necessary.

Deb

 

[bogey21]

My Son had insurance with Sprint for a relatively expensive phone. He accidentaly dropped it from a hotel's 11th floor balcony. He had a replacement within two days. I think there was a small service charge. If this happens to you, just remember to pick up the pieces. You have to send them in.

George

 

[Hellicat]

Iphone insurance

We have iphones too. I insured my daughter's Iphone with gotronics.com, that I read about in an electronics web site when researching phone insurance online. I wasn't sure how it would go if there was ever a claim as everything was online. Fast forward, she dropped her phone, shattered the back this summer. I called gotronics they walked me through the claim, I mailed the phone to the repair center (insured) paid the $50 deductable - and two days later, her phone was sent overnight - ALL FIXED. They also sent emails with status. Our plan was $85 for two years, 50 deductible, up to 5 or 6 claims & has theft coverage.

You might want to look them up and see if it still the same


Kelley

 

[nightnurse613]

I use SquareTradeWarranty.com. They have a relatively inexpensive option for the IPhone and you can get accidental coverage too. (I have washed a few phones in my life). I have filed a few claims over the (many) years. Mostly I get the price I paid for the item which allows me to buy a new item. Recently my Samsung HDTV was giving me a problem and they took care of that by having a technician come out and fix it (the service charge would have been more than what I paid for the coverage).

 

[shmoore]

Thank you so much. I like hearing from someone who has actually made a claim. I have used cell phones for several years. I dropped one three years ago and washed one this week. I did not have insurance on those, but this one costs $650. I think I would rather pay a little along the way rather than all at once.

I do appreciate your time and knowledge.

 

[Mosca]

I got it through Verizon, I've used it twice, both times no fuss/no muss.

The choice is really personal, there's no right answer. If you feel better with the money in your pocket, don't take it. If you feel better with the coverage, take it.

 

[timeos2]

Thank you so much. I like hearing from someone who has actually made a claim. I have used cell phones for several years. I dropped one three years ago and washed one this week. I did not have insurance on those, but this one costs $650. I think I would rather pay a little along the way rather than all at once.

I do appreciate your time and knowledge.

We get it for expensive phones when they are new - by the 1.5 year mark we drop it as the contract would be nearly over by then. We've had to use it three times - once when the brand new phone was only 3 days old & accidentally went "swimming" with me when I fell into a covered for winter pool (what a mess!) I had NEVER had coverage before but it was a $750 phone to purchase at that time - replaced for $35 deductible. WELL worth it.

The other two were drops/loss of newer phones. Somehow once they get to be 15-18 months old nothing happens to them so thats when we drop coverage. By then it's easy to find a replacement on eBay if needed in a pinch.

Interesting side note. That swim phone was soaked to the bone - so bad they didn't even want it returned. So I "baked" it in the car for three days - put it back together & it worked perfectly for the next 2 years as a new phone for my daughter. Thats one reason I LOVE the Palm line as you can't kill them. I'm sorry they may disappear now that HP has given up on hardware. We got two new Verizon Pre 2's to be sure we're OK for at least 2 more years & probably far more.

 

[chellej]

I have it on all 3 of my kids phones. Besides the occassional loses, and accidents they also cover the phones when they flake out which seems to occur more and more as they become more complex.

It is well worth it.


I just recently inherited DS's old Palm Pre....I agree I wish HP wasn't dropping them

 

[dougp26364]

Thank you so much. I like hearing from someone who has actually made a claim. I have used cell phones for several years. I dropped one three years ago and washed one this week. I did not have insurance on those, but this one costs $650. I think I would rather pay a little along the way rather than all at once.

I do appreciate your time and knowledge.

Exactly the reason we took out the insurance. Despite the post that says you can't afford an iPhone if you can't afford to replace, which, IMO, isn't the greatest advice.

Sure I can afford to replace it if I had to but, why? There is coverage avaialbe, accidents happen and paying for a new device (it was $650 at the time we bought it, could be more if I accidentaly destory it) would put a dent in the monthly budget. It's not so much that I'm paying the cost for the coverage as I am the peace of mind. Peace of mind is worth something to me in come cases.

We were lazy and didn't want to take chances so we just went with the source, Apple thru Verizon. As I understand it, we'll get a loaner device while waiting for ours to be repaired. We also took out the Applecare plan, which has come in handy for my wife and is suppose to give us a new battery after the first year as I understand it.

 

[dougp26364]

Your insurance will be paying for fraud and carelessness from other people.

Or you're own carelessness when it happens to you and, something can always happen to you. My son found that out the hard way when he decided it would always be someone elses fault because he was so "careful."