Is Verizon's equipment protection worth it?

Discussion in 'Motorola Droid 2' started by VooDooCC, Nov 22, 2010.

  1. VooDooCC
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    VooDooCC Member

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    I just ordered a Droid 2 through walmart.com, since it was free with upgrade, I figure why not.
    Now I'm wondering if the equipment protection is worth it. At $7/month and a $90 deductible, the price just seems a little bit steep.
    I've got one friends with a D1 and he's only had 1 serious issue, but he works at a stone quarry and keeps it in the cab of heavy machinery all day every day. How many people on here have had issues?
    I have had no problems with my last 2 phones, but those were both simple phones, LG 8300 and Voyager - Titanium.
     
  2. wmnomore
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    wmnomore Member

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    Well, if you're accident prone it's worth it. If you want piece of mind, get it.

    I have had it on all my high-end droids. Just in case.
    If there is a manufacturers defect of software problem? the device will be exchanged or fixed in some way in the store. This is warranty work and has nothing to do with the insurance protection.

    If you lose it or break it, you can get another for $90.00. That's not too bad of a deal.
    Now if you have had a device for 1.5 years: $90 + $126=216. That's a chunk of change.

    So I think it is worth it in the beginning of your contract, and then less of a concern the closer you get to the end of your contract.

    If you don't have insurance protection, this is an alternative:



    Certified Pre-Owned Replacement Program
     
  3. VooDooCC
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    VooDooCC Member

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    Is there any way of knowing how much the pre-owned ones are? It sounds to me like that's what you get with the insurance too.
     
  4. Dustin.
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    Dustin. Member

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    Insurance = 7.99 a month, 90$ for the replacement. (Get it no matter what.)

    CPO = 149.99$+Tax (IF you qualify.)

    Insurance is the way to go man, because sometimes you won't be able to qualify for that program and you would be stuck buying one out right..
     
  5. metroplex
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    metroplex Member

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    If you had to replace it once under the insurance, you'd spend nearly $300 by the end of your contract. If you had to replace 2 under the insurance within a contract, you spent $400 out of pocket by the end of your contract.
     
  6. Lenagainster
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    Lenagainster Member

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    I don't take out the insurance, for several reasons.
    I'm constantly reading posts about problems folks are having when they make an insurance claim, get a refurb or a different model phone.
    I agree that $90 plus $7/mo is too much.
    I keep my previous phones so that in case one is damaged, I have a substitute immediately available.
    In the case of the two Droid 2s we recently got, I have my Droid 1 as a backup. Good condition Droid 1s are now going for $150 to $175 on eBay. You would pay that much in insurance premiums over two years and have nothing to show for it.
    In five years with VZW, I have had zero returns for malfunctioning phones, and once my LG Dare took a swan dive into the porcelain pool. I used a backup phone for a month or so until I won a used Droid 1 on eBay.
    Only once out of 10 customer-years (5 for me, 5 for the BH) would insurance have paid off, and then the difference between the premiums plus the deductible, and what I paid for the Droid 1 on eBay, was insignificant.
    It's a gamble. If you don't like taking chances, take the insurance. I just feel it's too high a price for what you get.
     
  7. Barristro
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    Barristro Member

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    I agree with everything Lenagainster said. According the the gentleman at the store, Verizon Warranty covers any problem with the phone, and insurance covers any damage from outside sources.

    Insurance is worth the cost only if you will horribly damage your phone at least once in a two-year period* and do not have access to a suitable replacement (old or borrowed phone).

    Personally, I prefer to be careful with my phone instead of paying money each month for the option of paying even more money if my phone gets damaged.

    *with all the early upgrade offers, the two-year period often drops down to about one year.
     
  8. chaz.ring
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    chaz.ring Member

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    Lol @ assurion and verizon both... Why would I pay their prices when I just insure my phone through our home owners for $4.00 a month. And with my plan, in the event of a claim, they just pay you full retail price for the phone. No questions asked and no deductable. Its nice not being asked to settle for an inferior phone, and to pay an additional $90.00.

    Sent from my incredible using slideit on tapatalk
     
  9. VooDooCC
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    VooDooCC Member

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    Thanx guys, especially Lenagainster. Those were my feelings exactly, I just like hearing (reading) someone else say them too.
     
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