Insurance? Worth the Cost? Options?

petee33333

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I have an HTC Incredible..
I also have... a broken LCD Screen on it.
I do not have ... Insurance.

You would think that I would regret that deciision... but.. no...

Verizon insurance on advanced devices is $6 a month. (7.99 soon?)
so, on a 2 year contract that is $6x24 = $144.

$89 is the "deductable" for a replacement phone.

That makes the total $239 spent for a replacement.

But what are your options if you break something without insurance?

1. Retail price $529 from Verizon for a new retail phone.
2. Repair from HTC? $75 labor plus parts = $225ish..
3. Repair from local shop? labor plus parts if they can get them...
4. pre-owned Certified Pre-Owned Devices The Incredible is not yet available as a pre-owned phone, But Verizon sells these as certified pre-owned devices, you can be "eligible" for purchase if you break/lose your phone and you do not have insurance. The price for a motorola droid is $249 currently..
5. Use older phone - possibly save $30 a month on data charges.. When I did this they automatically took of the $30 data plan off my account. I have my "old" phone currently while my incredible is being repaired.

I currently have my phone in for repair at a local shop, the guy assured me he could get the part and that it was an "easy" replacement. WE are waiting for parts now.

So, if I had insurance I would be spending $89 (plus shipping?) for a "new" phone, but I know for a fact that Asurion (the company that does the insurance for verizon) will send you a refurbished device almost exclusively.

I have not had expeirence with phones and a replacement plan via a retail store like best buy, but I expect they would be expensive.

So... my opinion on insurance is... DON'T BOTHER!!

I expect to pay $150 or so for my replacement screen on my incredible, that seems better than paying $6 a month + $89 deductable for a total of $239 over the two years.. Not to mention that the value of the phone is going to go down and a replacment will likely be cheaper in a few months anyway..

Oh... and I see that Verizon is charging 7.99 for their insurance, you have to choose the asurion only option to get it down to $6.00 a month..

I hate anything that increases my monthly bill. That was almost a deal breaker when I had to move to the $30 data plan, but I decided to do it anyway.

I will post again when my repairs are complete, or if it doesn't work out...

Anyone have good/bad/ experiences with insurance/asurion?
 
I pay $6/mo per device as a VIP account holder....Insurance is worth it, I have a new device the next day if something happens.
 
..with a smart phone its pretty much a given that you should buy insurance with it. Oh and btw your calculation are not correct because if you break your phone anytime before the end of your contract the final cost of getting a replacement would be much less. What if you broke it on the second month or the third month? Dont be cheap, your phone is not invincible and will eventually get lost or broken.
 
Insurance would've been higher in THIS case. But, had the phone been lost, stolen, liquid damaged, with no backup phone, it would have saved you money vs the full retail of the DI. I personally carry insurance while I'm not eligible for an upgrade. When I become eligible, I remove it. And Verizon has been charging $7.99 for an advanced device for some time now. That plus the deductible is much better than dishing out the retail price upfront IMO.
 
I pay $6/mo per device as a VIP account holder....Insurance is worth it, I have a new device the next day if something happens.


Have you had specific experience with this? Or just going by what the Verizon folks told you?

If you have, was the replacement device refurbished or new?

Is Next day shipping included in the $6 a month (Plus $89 deductable)...

Thanks for the feedback!!
 
I pay $6/mo per device as a VIP account holder....Insurance is worth it, I have a new device the next day if something happens.


Have you had specific experience with this? Or just going by what the Verizon folks told you?

If you have, was the replacement device refurbished or new?

Is Next day shipping included in the $6 a month (Plus $89 deductable)...

Thanks for the feedback!!

Replaced my son's Eris last month....$89 and the New device was there the next day. Not the first time I used it either.
 
Yea, your theory might be correct until you break your phone twice, or mess up a phone beyond repair. I have Best Buy Black Tie protection, and there is no deductible.
 
I pay $6/mo per device as a VIP account holder....Insurance is worth it, I have a new device the next day if something happens.


Have you had specific experience with this? Or just going by what the Verizon folks told you?

If you have, was the replacement device refurbished or new?

Is Next day shipping included in the $6 a month (Plus $89 deductable)...

Thanks for the feedback!!

next day shipping is free, the phones are certified like new (equivalent to a brand new phone, sometimes even better)
most of the time they give you a free 16gig sd card that you get to keep
 
I pay $6/mo per device as a VIP account holder....Insurance is worth it, I have a new device the next day if something happens.


Have you had specific experience with this? Or just going by what the Verizon folks told you?

If you have, was the replacement device refurbished or new?

Is Next day shipping included in the $6 a month (Plus $89 deductable)...

Thanks for the feedback!!

next day shipping is free, the phones are certified like new (equivalent to a brand new phone, sometimes even better)
most of the time they give you a free 16gig sd card that you get to keep

All 3 times I have used the insurance I have received brand new devices. YMMV
 
I have had 4 cell phones and never broken one based on dropping it, sticking it in water, etc... they all worked when I was done with using them.

I think it depends on the person, I would never get insurance but my gf should get insurance.
 
As mentioned, insurance covers a whole lot more than just damage, like lost / stolen, hard to fix that without just a check for more than the 2 years + deductible.
 
I had the $6 insurance on a Moto Q for 2 years. In that time I had it replaced 6 times and never paid a deductible of any kind. 2 replacements were software issues (moto didn't program in a way to limit the text inbox, so texts just accumulated until the phone couldn't handle it any more and would start crashing on a daily basis) and 4 replacements were accidental damage. Unless things have changed, a replacement refurbished phone is free (with next day shipping) but you have to use the original battery and battery cover. If you need a new battery (water damage, loss/theft) then you have to pay a fee.

So yes, I had my phone replaced 6 times for $144. I will be carrying insurance on my Droid X as well.
 
I've gotten insurance on every cell phone I've had and never needed it.

That being said, if I never got insurance for a cell phone, I'd start with my Droid.
 
I tend to maintain my electronics well. I've never had or needed insurance. Some people are inevitably going to think I am setting myself up for failure, but when I drop 300-500 dollars on equipment I take care of it.
 
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