Verizon Will Increase Warranty & Protection Plan Prices by $1.01 on July 25th

[pc747]

Realy ypur going to makea big deal its only 1 dollar

Even at an extra $24 ($1 x 24months - length of a 2 year contract) I would still keep the insurance. You pay 299 for a phone (or if you wait a few months $199) that is worth 700-800 retail. God forbid something happen like you break it or it is lost or stolen. You go to verizon and get a new phone even with the $100 deductible you only paid $300+$100+192 ($8x 24 months)+ 72(3x24) = 664 + tax so lets say $680 for two smart phones (one lost/damaged). I have no issue with the insurance.

Now where I do understand where people are coming from is that people are getting tired of vze nickeling and diming them to death. The avg customer probably spend $110 per phone x24 month= 2640 add that to the above and in 2 years you paid 3320 to vzw (1660 per year). Those figures are only taking into account one smart phone line. People on Family share plans with multiple lines may be paying close to twice that amount. A change in price that is only $1 is not the issue it is the $1 here, $5 there, etc and after awhile you look up to see your bill has went up almost $30 - $40 bucks. That is enough to cause for concern especially for those on a tight budget.

 

[kodiak799]

I'm not going to say ditching insurance has made me more careful with my phone, but I have dropped and banged it a few times. They aren't as fragile as people believe.

It just boggles my mind, the way people complain about what they pay, that most throw away even more money on insurance. Insurance and extended warranties are huge money makers for most retailers. If you don't have a $500 deductible on your home or auto policy (and you shouldn't be that low), then it's simply irrational to insure a phone.

For that matter, paying retail is a whole other debate. Am I really getting $400-$500 value of buying new vs. picking up a used 1-yr old phone?

I should just quit now because inevitably someone will read this, cancel their insurance, and then lose their phone tomorrow.

 

[xeene]

chances are verizon is preparing to roll out next phase of lte network, aka advanced lte. so they're stuffing their piggy bank prior to upgrade. aslo, insurance isn't worth it as the phones are worth 1/2 the price after first year. galaxy s3 is selling for $300 on swappa. first year the phone is covered by manufacturer warranty. unless you're clumsy or unluckiest sob on the planet, it's ALWAYS a waste of money otherwise companies wouldn't be banking on it.

 

[trestevenson]

This was reason enough for me to cancel the insurance I was paying on my Galaxy Nexus. The older I get, the more careful I am with my devices. I haven't needed to file a claim on a phone since 2008. For me, it wasn't worth it to keep paying $5.18 per month for "peace of mind". I use cases, stay away from water, and have a job that isn't physically demanding. I'll take my chances.

 

[dgstorm]

OP Updated with some new info which might add to the discussion.

 

[trestevenson]

I still feel the same after reading the new intel. For me, it just isn't worth the money. My monthly bill is high enough as it is!