Question regarding phone insurance

[halo0]

Just so you know the deductible is 80 for advanced devices not 50. That was the old insurance option.

So it will be a 9 month difference... still better in the long run.

The cost to insure it through BB is only $10/mo. Verizon is $6 w/ a $80 deductible.

Break even appears to be at 20 months if:
BB - $10/mo * 20 months = $200 total
VZW - $6/mo * 20 months = $120 + $80 deductible = $200 total

Considering NE2 discount (when most of us might consider a new phone anyway):
BB - $10/mo * 24 = $240 total
VZW - $6/mo * 24 = $144 + $80 deductible = $224 total

Anything over 20 months makes Verizon slightly cheaper.

Hmm, this makes the choice a little harder. Does anyone know if you have the insurance with Verizon and you have an employee discount (I get 18% off my Verizon bill) if the discount also applies to the insurance? If it did then it would be more like $5 a month for those with employee discounts.

 

[mth04]

So it will be a 9 month difference... still better in the long run.

The cost to insure it through BB is only $10/mo. Verizon is $6 w/ a $80 deductible.

Break even appears to be at 20 months if:
BB - $10/mo * 20 months = $200 total
VZW - $6/mo * 20 months = $120 + $80 deductible = $200 total

Considering NE2 discount (when most of us might consider a new phone anyway):
BB - $10/mo * 24 = $240 total
VZW - $6/mo * 24 = $144 + $80 deductible = $224 total

Anything over 20 months makes Verizon slightly cheaper.

Hmm, this makes the choice a little harder. Does anyone know if you have the insurance with Verizon and you have an employee discount (I get 18% off my Verizon bill) if the discount also applies to the insurance? If it did then it would be more like $5 a month for those with employee discounts.

I get 18% of the bill and data. I think I pay the fee of $6 a month on the insurance

 

[jbjtkbw00]

If I remember correctly, and I could be wrong, my 15% is on the plan price and I get 20% off on features (data plan), but I don't think insurance is a feature. Can a VZW employee confirm? They removed my insurance when I came back from the Pre or else I would just check my bill.

 

[dweezle]

Google "Best Buy service plans" and hold onto your hats. They are dishonest and often violate the terms of their service agreements. I am done ever buying from that company! They could GIVE away a Droid and still find a way to screw their customers. There are legit electronics insurance writers. Best Buy just ain't one of them.

 

[New2u]

If I remember correctly, and I could be wrong, my 15% is on the plan price and I get 20% off on features (data plan), but I don't think insurance is a feature. Can a VZW employee confirm? They removed my insurance when I came back from the Pre or else I would just check my bill.

You don't get the % off of the insurance.

 

[jbjtkbw00]

I didn't think so. Thanks for that confirmation.

 

[boomguy]

The insurance sucks - $90.00 copay plus the monthly plus, they can give you a used phone. Your credit card may cover you. Otherwise eat the $175 early termination and get a new phone.

 

[halo0]

$175 ETF IF you buy before Nov 15th, plus another $200 for a new phone? Sounds like a great deal.

 

[ryanm]

Well for me if the phone is under 90 days verizon has ALWAYS swapped the phone in-store for free. I've had at least 7 switched in the store this way for free in the past 4 years. But if you lose or break it then you're out of luck. But normally a drop causes something not to work but it "could be" software related. They've always said...oh you have full insurance, here you go!

 

[New2u]

Well the BB insurance would be only if you get it from BB. which for those of us with NE2 upgrades, most likely isn't a viable option.

 

[wallstreet123456]

I saw two insurance options only one for $7 and the other for $6, what is the difference?

 

[JoeFresco]

The cost to insure it through BB is only $10/mo. Verizon is $6 w/ a $80 deductible.

Break even appears to be at 20 months if:
BB - $10/mo * 20 months = $200 total
VZW - $6/mo * 20 months = $120 + $80 deductible = $200 total

Considering NE2 discount (when most of us might consider a new phone anyway):
BB - $10/mo * 24 = $240 total
VZW - $6/mo * 24 = $144 + $80 deductible = $224 total

Anything over 20 months makes Verizon slightly cheaper.

Actually, the NE2 discount kicks in at 20 months. So if your phone dies then, you can get a new one under a new contract.

Your numbers also assume that you will replace the phone exactly once over the next 2 years. If you replace it more than once, it will be $80 each time (if I understand the policy correctly). If you don't have to use it, then you save the $80, making Verizon substantially cheaper.

So I guess if you take the approach that insurance is for the rare, terrible situations (like you are terrible with your phone), then go the Best Buy route. Otherwise, Verizon is probably the better way and probably has better service. The only way you'll pay more is if you have to use the plan twice or more every 2 years

 

[thetastelingers]

Just an FYI.
When I was ordering my droid today, I was looking at the insurance. It used to be $50, but it is now $89 when your phone needs replacement.
I have used this service in the past on my past phones and it in fact was $50 when I needed to use it. I think it is worth it for $50, but I decided for $89 it wasn't worth it.

 

[polar135]

I personally have added my BB smart phones to my wifes wedding ring personal articles policy. It only cost me about 3 bucks a month, and then i am for sure getting a new phone, not of the Refurb crap that they some times send out. With state farm, i have no deductible on the phone. (note phone has to have a retail value of $500 or more to add it to my policy. )

Please note i updated my original post. the insurance is not under my home owners but under my wife wedding ring insurance called a personal articles policy threw state farm. I cover her ring cause well stuff happens and i don't want to be out the money that I paid for the ring. My state farm agent confirmed to me today that my Storm (the phone i have now) is on the policy, that their is no deductible on the phone if anything was to happen to it.

Sorry for the mix up on the correct type of insurance policy.

 

[polar135]

I have state farm homeowners and they said cell phones are not covered, what gives?????

sorry for the mix up. i update my original post:

I personally have added my BB smart phones to my wifes wedding ring personal articles policy. It only cost me about 3 bucks a month, and then i am for sure getting a new phone, not of the Refurb crap that they some times send out. With state farm, i have no deductible on the phone. (note phone has to have a retail value of $500 or more to add it to my policy. )

Please note i updated my original post. the insurance is not under my home owners but under my wife wedding ring insurance called a personal articles policy threw state farm. I cover her ring cause well stuff happens and i don't want to be out the money that I paid for the ring. My state farm agent confirmed to me today that my Storm (the phone i have now) is on the policy, that their is no deductible on the phone if anything was to happen to it.

Sorry for the mix up on the correct type of insurance policy.