Insurance on Droid X

[dfink114]

Hello once again. So I finally got my Droid X today and I'm loving it! My question is should I invest in the insurance plan from Verizon? I feel like in my gut it's a rip off, but if anything happened to my DX I know I wouldn't shell out $500-600 for another one.

 

[psychotic_penguin]

Can you afford to fork out $500, if your phone is lost or stolen? The X is the first phone I've had that I insured through VZW and considering the liability of having to pay retail if something goes wrong I think it's a fair investment.

There are other options like Ensquared Insurance for Droid X devices up to 90 days old. this is only for phones up to 90 days old

 

[qqqqqqqman]

Any kind of insurance is like that....cars, disability, medical, life. If you don't end up needing it, it's a "waste" and inflates the cost of whatever it was covering. If you end up needing it, it can save your ass.

It depends on your financial situation. If something happens to it and buying another ruins you financially or mentally, then buy the insurance. If you can afford the hit, then maybe take your chances. Just limit your exposure by taking care of it and not throwing it around/down. I can afford to buy a new one (though maybe I wouldn't at those prices!), so I generally don't buy insurance on these kind of things, as I am more bothered by continually paying for something, LOL.

I suppose you could just start out with the monthly insurance for peace of mind, then when you get past a certain point in time, quit paying for it...

**

 

[MysticalDreams]

I have always used Square Trade. They have been great with repairs / replacements and the prices are normally less than the retail prices.

 

[csimo]

Usually the best rates are from Get iPhone Insurance and laptop insurance with a Worth Ave Group Insurance Policy

I have nothing to do with them, but I see they have great rates.

 

[Backnblack]

I pay $5.99/mo for a $50 deductible to have my X replaced via Asurion.

 

[wb1960]

no!!!! go to square trade for all your warranties

 

[carguy]

From a pure financial standpoint, insurance on something like a mobile device/laptop is a waste of money. If you don't have the $ saved to replace it if it is lost or stolen, you can't afford to have it in the first place. Everyone should have an emergency fund in place before you buy big dollar toys like a smart phone, laptop, etc.

Same goes for any appliance or electronics warranty.

The only insurance you must carry is for your vehicle, house, medical, long term disability and term life insurance

 

[Backnblack]

From a pure financial standpoint, insurance on something like a mobile device/laptop is a waste of money.

Your opinion....

 

[carguy]

From a pure financial standpoint, insurance on something like a mobile device/laptop is a waste of money.

Your opinion....

It's a fact as stated 'From a pure financial standpoint'. The statement does not take into account the feel good feeling some people get by having it.

Do the math and take the odds into account, it does not add up. Insurance companies do not offer insurance to lose money

 

[Jale]

Check with your credit card issuer: Some offer free mobile phone insurance (with $100 deductible) if you charge (automatically) your monthly mobile phone service on their card.

 

[dfink114]

Thanks everyone for your feedback. I've decided to go with SquareTrade

 

[Freezetron]

I deemed it a no brainer to pay $6 a month plus $90 in the event I screw up majorly and ruin my Droid X with Asurion. $90 is a helluva alot better then $600

 

[erict]

I deemed it a no brainer to pay $6 a month plus $90 in the event I screw up majorly and ruin my Droid X with Assurance. $90 is a helluva alot better then $600

+1

Same reason I have health, auto, life and home insurance.

 

[strollin]

I have Asurion through Verizon on my Droid X, pay $6/month with a $89 deductible. After reading this thread I looked at both SquareTrade and Worth insurance. Both are less expensive BUT (there's always a but, huh?) SquareTrade specifically doesn't cover lost, stolen or damaged due to misuse phones. Worth only covers damage and theft, specifically excludes lost phones. Asurion covers Lost, stolen and damaged phones.

My point is you have to make sure you are comparing apples to apples when you consider insurance on these phones.