Comprehensive Insurance - Lost, Theft and Accidental Damage

[n2_edmond]

Do people see value in protecting their cell phone devices with insurance?
What is the price that you would pay per year for Lost, Theft and Accidental Damage?

I am the owner of Ensquared Cell phone insurance and I am trying to understand what the forum members think of insurance. Is it a waste of money or a must have add-on?

What are your concerns with insurance?

Thanks.

 

[jntdroid]

I have to have insurance of some kind. With 3 young kids, it's too easy for an accident to happen, even though I don't just hand my phones over to them. Depending on how good the coverage is, I'm willing to pay up to $100 / year, or $5-$10 per month... again, depending on what's covered, deductible, ease/speed of claim, etc.

 

[mikaselm]

My engagement ring (Roughly the same value as my cell phone) is insured through a rider on my renter's insurance for something like a dollar a month and no deductible... My cell phone is currently insured for something along the lines of 9 dollars a month with a 100 deductible... It's a TERRIBLE deal. I HATE paying it... but then, if I didn't have it, I'd be up a creek because there's no way I could pay full retail for a phone... soo... idk. Give me a better deal than Asurion does, and I'll switch... This coming from someone who currently works for Asurion, lol.

Honestly, the concerns that I have, and I think most people have, is how it breaks down. Insurance should make you feel like you've been helped out, and with the deductible on my current plan, I don't really feel that way. Yes it's cheaper than buying a new phone, but an extra 100 that I wasn't budgeting for hurts pretty badly.

Edited to say: Quickness is a factor too... I'll pay more if you're going to give me overnight shipping.

 

[CJM]

I consider insurance part of owning a smartphone. It's one of the bills I pay & try not to think about how much I'm paying. This is my 3rd contract with VZW & I've only had to use insurance once. So I think they've made out pretty good with me. I think the main reason I use Asurion is because it comes out of my phone bill. And that's one less thing I have to think about

Tapped from a Nexus

 

[jntdroid]

@mika I thought Asurion did overnight replacements?

 

[mikaselm]

Depends on the carrier. In most cases it is overnight... I didn't mean to say that I'd pay more than I pay with Asurion, but I would pay more for a policy that offered overnight than for one that didn't.

 

[n2_edmond]

My engagement ring (Roughly the same value as my cell phone) is insured through a rider on my renter's insurance for something like a dollar a month and no deductible... My cell phone is currently insured for something along the lines of 9 dollars a month with a 100 deductible... It's a TERRIBLE deal. I HATE paying it... but then, if I didn't have it, I'd be up a creek because there's no way I could pay full retail for a phone... soo... idk. Give me a better deal than Asurion does, and I'll switch... This coming from someone who currently works for Asurion, lol.

Honestly, the concerns that I have, and I think most people have, is how it breaks down. Insurance should make you feel like you've been helped out, and with the deductible on my current plan, I don't really feel that way. Yes it's cheaper than buying a new phone, but an extra 100 that I wasn't budgeting for hurts pretty badly.

Edited to say: Quickness is a factor too... I'll pay more if you're going to give me overnight shipping.

Ensquared can offer you a cheaper alternative to Asurion. $58.99 for 1 year or $99.99 for two years. $75 deductible.

Our products can be found here:
http://www.ensquared.com/catalog

Replacements ship with 24 hours of claim made.
Checkout our claims section http://www.ensquared.com/broken_phone_claims

 

[jackiescivic]

Square Trade is who I have used for handset protection outside of Asurion. Costco has the best deal on ST. $99.99 upfront covers 2 years coverage. Doesn't cover loss/theft, but I've never been worried about losing my phone. Replacement device is Grade A Remanufactured and it costs $25/claim and gives you one battery replacement over that two years. Replacement is overnighted so long as claim is made by 9pm.
You can get ST elsewhere, but you will still pay $150 deductible, I believe.

If I had the chance to get ST, I would in a heartbeat.

 

[Detonation]

I don't buy insurance...too expensive for the benefits. For example, if I break my phone a year into using it, I'd be paying almost $200 to get it replaced ($100 deductible + $7/mo + tax). At the rate smartphones depreciate these days, a year old smartphone can usually be bought for less than $300. Factor in selling the broken phone for parts (which should get you at least $100) and it's around the same cost. Except now you've only spent that money because you've needed to, rather than made monthly payments that only might be needed. But I understand that's the concept of insurance...I would buy it if it just wasn't so expensive compared to the alternatives. The only time it's probably worth it is in the first couple months of owning the phone where it would cost a lot more to replace yourself.