Advice about insurance

Discussion in 'Android General Discussions' started by pattikate, Jan 18, 2011.

  1. pattikate

    pattikate Member

    Joined:
    Dec 13, 2010
    Messages:
    79
    Likes Received:
    0
    Trophy Points:
    6
    Ratings:
    +0
    So I'm about to purchase a Droid X - my very first smartphone. I know this Droid has gorilla glass and is a sturdy phone, but I'd like your expert option guys: do you think I should purchase insurance from Verizon for my phone? I was wondering if most of you have done so, or if you feel it is unnecessary. Thanks for your input.
     
  2. rayne58

    rayne58 Member

    Joined:
    Dec 27, 2010
    Messages:
    104
    Likes Received:
    0
    Trophy Points:
    16
    Ratings:
    +0
    I personally dont think its necasary but if your known to drop your phone nd stuff then yeah get it

    Sent from my DROIDX using DroidForums App
     
  3. UrbanBounca

    UrbanBounca Rescue Squad
    Staff Member Rescue Squad Premium Member

    Joined:
    Sep 25, 2010
    Messages:
    2,741
    Likes Received:
    199
    Trophy Points:
    143
    Location:
    Virginia
    Ratings:
    +240
    Yes, these new devices are too expensive to not have insurance. I plan on keeping insurance for about a year, which should give plenty of time for D2 prices to decrease.
     
  4. hookbill

    hookbill Premium Member
    Premium Member

    Joined:
    Nov 30, 2009
    Messages:
    19,502
    Likes Received:
    8
    Trophy Points:
    168
    Location:
    N.E. Ohio
    Ratings:
    +8
    Why would you think it's not necessary? Your not planning on losing your phone, dropping it in water, theft, or breaking it today?

    Nobody does.
     
  5. jr313

    jr313 Member

    Joined:
    Jan 27, 2010
    Messages:
    402
    Likes Received:
    0
    Trophy Points:
    16
    Location:
    Detroit, MI
    Ratings:
    +0
    Yes its a great idea to put insurance on it you just never know what might happen no matter how careful you are accidents happen....you pay good money for these phones and unless you have money to blow like that you have to protect your investment...i have had insurance on all of my phones from my G1, to my Droid 1, and now Droid incredible luckily nothing has happend but i do at least have piece of mind that if something does happen im covered and wont have to pay out full price for a new one...
     
  6. evor1

    evor1 Member

    Joined:
    Dec 22, 2010
    Messages:
    47
    Likes Received:
    0
    Trophy Points:
    6
    Ratings:
    +0
    they offer the insurance because it makes them money. statistically it is never in your favor to purchase insurance
     
  7. dezymond

    dezymond Tech Support Mod
    Staff Member Premium Member

    Joined:
    Nov 11, 2009
    Messages:
    12,080
    Likes Received:
    1,508
    Trophy Points:
    573
    Location:
    Bay Area, California
    Ratings:
    +1,672
    Current Phone Model:
    Google Pixel
    I did not opt for the insurance or any phone for that matter. I'm pretty good at taking care of my things and knowing where they are. I've never once broken a phone, lost it, or anything.

    However, base the decision on your history. Have you lost similar devices in the past? Have you accidentally taken a dip in the pool with say your wallet or important piece of paper in your pocket?

    Everyone is different. I'm the person who doesn't have phone insurance, a case, or even a screen protector. I am careful as to who handles my phone and keep an eye on them. I never had a cracked screen or anything, so that's why I did not opt for the insurance. Many would say such expensive devices, insurances is the most logical thing to do, I disagree. You keep track of your things and treat it well, they'll last and you can even sell it maybe 2 years from now for a nice price, like i did with my AT&T Tilt after 2 years of ownership.
     
  8. carguy

    carguy Member

    Joined:
    Dec 7, 2010
    Messages:
    292
    Likes Received:
    2
    Trophy Points:
    18
    Location:
    Michigan
    Ratings:
    +2
    Insurance for something that costs just a few hundred dollars is wasted money. Buy insurance on things like your life, health, vehicle, home, etc. Not on low dollar items.

    IMO if you can't afford to buy another phone if something happens to yours, maybe you had too much phone to begin with ;)

    Insurance companies have spent millions researching their business, they bank on people paying premiums when they know the likely hood they will have a claim are low. It's a big money business for a reason ;)

    Here is just one article for reference: http://www.businessweek.com/magazine/content/10_47/b4204045368736.htm
     
    #8 carguy, Jan 18, 2011
    Last edited: Jan 18, 2011
  9. adsfa34

    adsfa34 Member

    Joined:
    Aug 11, 2010
    Messages:
    417
    Likes Received:
    0
    Trophy Points:
    16
    Ratings:
    +0
    Well put, hookbill. Insurance is just that. It's protection against uncertainty. We don't PLAN for something to happen to our things, so we buy protection against that uncertainty. For $7 a month...you can't get much better than protection against a $600 loss. That's the price of a decent submarine sandwich...and it's keeping you from having to shell out the big bucks lest something actually happen to your phone. Read some of the stories on this thread...it might help: http://www.droidforums.net/forum/tech-issues-bug-reports-suggestions/117496-buying-insurance-worth-7-month.html
     
  10. garrett

    garrett Silver Member
    Theme Developer Developer

    Joined:
    Oct 31, 2009
    Messages:
    2,017
    Likes Received:
    5
    Trophy Points:
    103
    Location:
    In a van by the River......
    Ratings:
    +5

    while i agree with this for the most part i do believe the insurance is good when its only 5 dollars a month. Thats not going to break anyones bank, if it does you dont need a smartphone to begin with.

    the replacement cost of a droid X is 569.99 so spending 5 bucks a month plus a 50 dollar deductible is well worth it.
     
  11. pattikate

    pattikate Member

    Joined:
    Dec 13, 2010
    Messages:
    79
    Likes Received:
    0
    Trophy Points:
    6
    Ratings:
    +0
    Hasn't the cost of insurance for the Droid x increased to $7.00 with a higher deductable than $50.00? That's what I heard, but I could be mistaken.
     
  12. darkespawn

    darkespawn New Member

    Joined:
    Feb 28, 2010
    Messages:
    14
    Likes Received:
    0
    Trophy Points:
    1
    Ratings:
    +0
    I bought my Droid at best buy and opted for thier insurance, its $10 a month but no deductible. and verizon want 7 with a 75 deductible for my droid.