Droids Selling for $49.00 - Why Buy Insurance?

Discussion in 'Motorola Droid' started by cuskit, Mar 6, 2010.

  1. KZIWarrior
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    KZIWarrior Active Member

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    Look two posts up... the math is right there... as for your ebay comment the cheapest "New" Droid on ebay is currently $385. Any under that were used or otherwise worthless (bad ESNs ect.). So now who "[hasn't] done the math?" You can cancel insurance at anytime... so if/when the prices (for legit, new phones) comes down people can cancel it then, assuming it will be cheaper than the above price. Also consider that when you get the replacement (even if it is a refurb) you get a warranty which you will NOT get from 99% of the ebay phones (i.e. the manufacture are not obligated to honor warranties for devices purchased through non-licensed retailers).
  2. STVA
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    STVA New Member

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    You also have to look at the scenario in which you pay for insurance but never use it. You've lost out on the premium and have nothing to show for it.
  3. cuskit
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    cuskit New Member

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    That's the stigma of all insurances. You may only have piece of mind in the end. Each persons weighs the pluses and minuses and makes a decision based on their own financial situation as well as the merits of piece of mind not worrying about a possible loss. Rarely does one beat insurance companies...

    Look at it this way - you go out with the guys on a weekend to a bar or pub. Pay your 5 bucks per month for phone insurance, and have one less beer every two weeks. :icon_ banana: What have you lost? The smallest of a buzz, gained no calories, and you don't actually need that extra beer anyway since you are not worried anymore about breaking your phone.:icon_ devil: mikey :)
  4. takeshi
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    takeshi New Member

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    Link?

    Personally, I'd rather get a "known good" replacement from VZW than ebay. IMO it's easier to deal with potential issues with the replacement, if there are any.

    It's a judgment call that each person needs to make.

    Accidents happen, no matter how careful one is. That's why they're "accidents" and not "planned incidents". :D

    Again, personal judgment call. Your own experience is the best thing to go on.
    Last edited: Mar 8, 2010
  5. vineaux
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    vineaux New Member

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    It is true that accidents do happen, but buying insurance just because.. is not a wise decision either. Another note is that why are we expecting a replacement phone a brand new one? Each phone has more or less a 2-yr life (contract) so paying VZ $8/month ($192+$90=282 worst case replacement at the end - can you sell that phone for that amount on craigslist or eBay 2 years down the road?)
    I think the insurance company already did this math in and perhaps for smartphones, an extended warranty to last another year would do for malfunctions otherwise theft would be covered somewhat by your home insurance (if you own a home.)
    What say you?:icon_ banana::mad:
  6. cuskit
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    cuskit New Member

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    You are right. But on the homeowners insurance - remember most carry a deductible. Maybe much higher than the cost of the phone - so counting on that for theft might not be viable. Not sure about losing your phone either - Asurian does cover it if it's lost. mike
  7. xliderider
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    xliderider New Member

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    I forget what the exact deal is, but the idea that you would have to pay the full retail price for a replacement phone on Verizon is a myth. I believe Verizon would offer to sell you a replacement Droid at the one year contract price if you are willing to extend your contract.
  8. jflyer5
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    jflyer5 New Member

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    First post! My droid should be here tomorrow got for $49 bucks by making verizon match neweggs price. I am considering squaretrade insurance because I found a coupon code for 30% off. this equates to 2 years for around 80 bucks. I have thirty days to decide but I am very tempted. reading the fine print is includes no deductable unless you get it wet or leave it in a car with windows down or doors unlocked. Just wanted to share and get a few opinions. Thanks
  9. vineaux
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    vineaux New Member

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    Matching price from VZ?

    Do they really do the matching thingy? How did you manage that? Did you upgrade your phone or become a new subscriber? Tell me details...:icon_ banana:
  10. vineaux
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    vineaux New Member

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    I also tried wirefly (and neweggs) the site does not allow upgrade (to add data plan) ONE line within a family plan - it insists that you MUST change 2 lines... but I only need ONE!!! anyone has any idea how to go about this? Get them on the phone? Is this a fraud thing?
  11. jflyer5
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    jflyer5 New Member

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    I called about porting my home number to an existing account and asked about upgrading my phone. I mentioned that I seen the phone on newegg and would probably purchase from them for 49.99. He asked if I would wait and asked his supervisor if he could match it. Asked him to note it in my account because I new what would happen if he didn't. Called back the next day and order it and should be here tomorrow. I see it's 100 at bestbuy if that don't work for ya. Goodluck
  12. jgumphress
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    jgumphress New Member

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    Go to squaretrade.com and check out their warranty. It covers everything including dropping and submersion for two years for around $145 with only a $50 deductable for dropping, all other repairs are free. I have several items covered by them and they will even transfer the warranty at no charge if you sell the item. Large items like my washing machine they cover the home service call.
  13. xliderider
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    xliderider New Member

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    The thing about Squaretrade though is you need to ultimately provide a receipt showing the purchase price. Unless you get a warranty on a Droid you purchased at full retail price, I don't think they will insure it at the full retail price if you bought it at a subsidized contract price. Correct?
  14. Cruzincat1
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    Cruzincat1 New Member

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    Which probably means if you just lose it you are out of luck because you won't have a police report, to prove you left it in a locked car. And if your car was broken into, and your phone was stolen, you will be without your phone for a while, while you wait for a police report.
  15. WVOz1970
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    WVOz1970 New Member

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    Squaretrade does not cover loss. Only damage or failure.

    I'm not sure on this one... have to read up. When you purchase the plan, you have to select their "Premium" one which actually shows a picture of the Droid. It is covered "up to $599". That's where I need to read up... not positive, but I believe they will cover "replacement up to" without a stipulation on original cost. I've had a couple warranties from them on eBay stuff. Thankfully, I've never had to use my warranties... but I've gotten very positive reviews of their service, so I'm hoping they are good for it if I ever do need to use them.

    I'm leaning towards a warranty from them on my Droid. Just got it yesterday and I need to make a decision soon.
  16. joker402
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    joker402 New Member

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    jusr beacuse the phone is 50 with a 2 year upgrade doesnt mean the $500 full retail price will go away.

    I dont pay the verizon asurion inusrance, i pay protectcell 70 for a year and if any thing happens 50 gets me a new phone, i only get a year because i have phones usally less than 10 months
  17. WVOz1970
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    WVOz1970 New Member

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    Here's what SquareTrade says about amounts...


    • Repair or Reimburse Based on what happened to your phone, we will let you know if it's suitable for replacement, repair, or reimbursement.
      • For replacement, we will provide you with the same or an equivalent model phone.
      • For reimbursements, we will pay you the replacement cost of the phone, up to a maximum of the amount selected above, or the price you paid which is listed on your item receipt, whichever is less. If accidental damage was the cause of the failure, we will subtract a $50 deductible from the payout.
    So I guess if they decide to replace it, you are good. If they opt to reimburse, it will only be for the amount on the receipt.
  18. lovelyhistorymom
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    lovelyhistorymom New Member

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    I purchased insurance on my Droid. I'm not accident prone, I'm careful with my tech. Never had one stolen. Have incurred some damage to former phones. (Cracked screen on one...my carelessness...dropped another in water...pure, unadulterated accident...) but other then that it's great.

    I have also never had one phone that something didn't fail just before my 2 yr contract was up. Most of the time it is a system failure of some sort, and not a result of my negligence. And I've never had insurance on a phone before but given the price of a Droid and my luck I went ahead this time and purchased the full plan from my provider. $7 a month is great to cover sysfail, water & drop damage, stolen...whatever.

    I am now firmly convinced modern phones are not built to last the duration of a two year contract. So there.

    At any rate, I'd rather dump money slowly then painfully fork over $500 if I bust my Droid.
  19. hookbill
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    hookbill Premium Member Premium Member

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    I believe i was told that the co pay is 90.00. I just signed up for insurance. I have heard some people have grandfather their payments but I believe the deductible I'm quoting is correct.
  20. joker402
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    joker402 New Member

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    yea i sell verizon and its 7.99 a month with 90 dect. but we also sell protectcell which is 70 for a year 50 dect. of course the drct goes up too 100 on the next claim but i havent had to make a claim yet
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