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Is insurance worth buying?

I'm wondering if it's worth buying insurance for this phone (or any phone for that matter). SquareTrade is supposed to be good...

In my opinion no, u got a warranty for a year anyways... just treat your phone with upmost care always have a case, if ur gonna go drinking DONT BRING IT WITH YOU haha

I would say YES, unless can guarantee that you will "treat your phone with upmost care always have a case, [and] if ur gonna go drinking DONT BRING IT WITH YOU" ...and of course no one ever steals it and you'll never accidentally drop it.

Lets talk about worth... $5 or $6 a month... versus you losing your phone, it getting stolen, you getting shoved into the pool with it in your pocket, etc etc etc...
Would you rather pay $5/6 a month and then $129 to replace the phone, or $499 to replace it?

JWhipple said:
Lets talk about worth... $5 or $6 a month... versus you losing your phone, it getting stolen, you getting shoved into the pool with it in your pocket, etc etc etc...
Would you rather pay $5/6 a month and then $129 to replace the phone, or $499 to replace it?
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Unless of course that SquareTrade service is as good as it claims... I'd take that over 2 years with a $50 deductible on accidentals instead of the T-Mo insurance I'm paying for.

It's 2 years of coverage for $51.99.
"WHAT IS COVERED:
Mechanical and electrical failures that occur during normal use of your item. Your item is covered for up to the full purchase price of your item (tax and shipping are excluded).
Some examples of covered issues include computer hard drive failures, iPod batteries that stop charging, cell phone keypads that get stuck, and digital camera sensor failures."
SquareTrade Inc. information.

xzxxzx said:
It's 2 years of coverage for $51.99.
"WHAT IS COVERED:
Mechanical and electrical failures that occur during normal use of your item. Your item is covered for up to the full purchase price of your item (tax and shipping are excluded).
Some examples of covered issues include computer hard drive failures, iPod batteries that stop charging, cell phone keypads that get stuck, and digital camera sensor failures."
SquareTrade Inc. information.
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That's EXTENDED warranty, not insurance.... insurance is when a phone gets lost or stolen.

funkadesi said:
That's EXTENDED warranty, not insurance.... insurance is when a phone gets lost or stolen.
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Whoops my bad. I kept seeing the squaretrade insurance pop up

i pay tmobile for my insurance. small price to pay for them just incase moments. i bought my phone outright so it was my best option. without it, i might be a little nicer to my phone. but with insurance lol, i just use it.

Insurance is a money pit
Guys insurance for a phone is a money pit I will show you.
I am very delicate with my phones like I know many of you are. I buy a case and screen guard and I have dropped one phone. So I dont buy insurance. Tmo insurance is 5.99/mo and the average length people keep the phone is about a 1yr some maybe 2yrs.
If you make a claim you have to pay a deductible which is usually around 125-150
so 5.99*12months= $71.88+$150=$221.88
If you have insurance for 2yrs: $5.99*24monts+$150=$293.76
Plus Tmo knows that less than 80% the people that get insurance will never use it, thats why they offer it cause they make money on it.
Now what if I self insur and pay myself 5.99 a month and save for a deductible. I can buy the same phone or a better one on craigslist or ebay. Therefore I dont buy insurance on any phone anymore cause we never used it we always bought phones off craigslist or ebay cheaper than our deductible. Just a little FYI

personally i have had insurance on my phones for 4 years, i have never had to use it(broke a G1 but since they couldn't get me a G1 i upgraded) yeah in the long run you might be paying a little more but i always compare it to car insurance. yeah i don't like paying an extra $150 a month for insurance on my car, but if i decide i don't want insurance and then i wreck the car i'm out a car(and in my state my license). or i can keep the insurance, pay the money, pay the deductible, and play it safe. in the end it's your choice but unless the phone is glued to your hand, and you live in the desert, then something could happen and end up costing you the price of the phone.
on the craigslist point: you don't always know where the phone you are buying off CL has been so there is no guarantee that you aren't buying a stolen device, i would rather pay retail for a phone that i know isn't stolen and comes with the box and everything in it, and the phone is in perfect condition

Well does anyone have any experience with square trade cause i was considering doing this as well

if you have access to the latest issue of Business Week (cover says Be Evil), there's an article talking about the company Asurion, who is the backer of cellular insurance for all of the big wireless companies around the world. chances are if you have the insurance, the replacement you get will be a refurb/used, which can usually be had for cheaper price. don't expect to be compensated with a brand new phone of equal value if yours goes bad.

Insurance? Squaretrade?

I have the option to purchase squaretrade insurance/warranty for $99 since I bought from letstalk (instead of $124 by going directly to squaretrade).
I still don't understand how this works. Do you just pay the $99, then you can get a new phone even if you get something as simple as a small scratch on your current phone? Do you have to send the old phone back or can you just sell it for parts (assuming it's damaged).
I've never had phone insurance before, but I'm highly considering it because of the dust issue on the HTC sensations.
If you guys know of any other insurance, please let me know too. I've only had the phone 6 days so I have plenty of time to purchase insurance from anywhere.

brian85 said:
I have the option to purchase squaretrade insurance/warranty for $99 since I bought from letstalk (instead of $124 by going directly to squaretrade).
I still don't understand how this works. Do you just pay the $99, then you can get a new phone even if you get something as simple as a small scratch on your current phone? Do you have to send the old phone back or can you just sell it for parts (assuming it's damaged).
I've never had phone insurance before, but I'm highly considering it because of the dust issue on the HTC sensations.
If you guys know of any other insurance, please let me know too. I've only had the phone 6 days so I have plenty of time to purchase insurance from anywhere.
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Read my thread about TMO's premium handset protection. It also covers malfunctions(warranty replacements)
http://forum.xda-developers.com/showthread.php?t=1135836

brian85 said:
I have the option to purchase squaretrade insurance/warranty for $99 since I bought from letstalk (instead of $124 by going directly to squaretrade).
I still don't understand how this works. Do you just pay the $99, then you can get a new phone even if you get something as simple as a small scratch on your current phone? Do you have to send the old phone back or can you just sell it for parts (assuming it's damaged).
I've never had phone insurance before, but I'm highly considering it because of the dust issue on the HTC sensations.
If you guys know of any other insurance, please let me know too. I've only had the phone 6 days so I have plenty of time to purchase insurance from anywhere.
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Squaretrade does nothing if your phone gets lost or stolen. They cover just about everything else with a $50 deductible and roughly a 5 day turnaround.
The insurance t-mobile uses is Asurion and I have used them in the past. If you have a claim, you will need to go through Asurion for the claim and it takes 1 business day (T-mobile is not involved). Personally, I did receive my replacement on a Saturday after I filed a claim at 9PM on a Friday night. The big problem with Asurion is you only get 2 claims per 12 months and the Sensation has a deductible around $150 (it's still not listed on Asurion's site) plus a $5 fee.
The nice thing about Asurion is you get a replacement phone no matter what. Not to mention all they want back is the phone. You get to keep the accessories and battery from your old phone. They also will let you keep your old phone, but they charge another $250+ and it may be considered insurance fraud.
You can see the details on T-Mobile's site: http://support.t-mobile.com/doc/tm23694.xml

mycomputerisjunk said:
Squaretrade does nothing if your phone gets lost or stolen. They cover just about everything else with a $50 deductible and roughly a 5 day turnaround.
The insurance t-mobile uses is Asurion and I have used them in the past. If you have a claim, you will need to go through Asurion for the claim and it takes 1 business day (T-mobile is not involved). Personally, I did receive my replacement on a Saturday after I filed a claim at 9PM on a Friday night. The big problem with Asurion is you only get 2 claims per 12 months and the Sensation has a deductible around $150 (it's still not listed on Asurion's site) plus a $5 fee.
The nice thing about Asurion is you get a replacement phone no matter what. Not to mention all they want back is the phone. You get to keep the accessories and battery from your old phone. They also will let you keep your old phone, but they charge another $250+ and it may be considered insurance fraud.
You can see the details on T-Mobile's site: http://support.t-mobile.com/doc/tm23694.xml
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It's $130.00 deductible for the Sensation.

Asurion?

Anyone here suggest having it from T-Mobile?
It's $7.99 a month...
Is it worth it? I don't get my phone stolen or lost... I always take care of my phones..
Input before bashing!

it's completely user preference.
Ask yourself this when trying to decide: "is $ worth it to me in the event that something unfortunate happens to my phone? Do I want to spend $$$ to buy a new one if the problem is not covered by the original warranty?"
Some people have horror stories in dealing with asurion others no problem at all... And remember, the plan does not specify that you'll get a brand new, unused phone, just a comparable phone....so you could end up with a refurbished phone after you're deductible...and who knows if it was ever fixed in the first place!
For me personally, I go with the middle tier insurance (4.79/month+130ded) for the first year because chances are that if I start having problems after that, I'm just gonna go in and get new phone and renew my contract at that point.

I got it but that's b/c i work for t-mobile and I've heard so many unfortunate stories
I take care of my phone as well but it's technology...anything can happen

Have a look at SquareTrade. Way cheaper and covers damages. If they can't fix it, they'll pay you the price you paid for the device. They charage a $124 fee for 2 years of coverage, zero deductible.
Search around online, you probably can find a coupon code to help you get 20-30% off the regular price SquareTrade would charge you for coverage.
Asurion's deductible alone is about as much or more than Squaretrade, plus you'd have to pay Asurion $8/month on top of that.
SquareTrade's protection is also transferable if you sell/give the device to someone else. (Sure to help your resale value on Ebay . )
But ultimately, if you don't have a history of damaging devices, you could save more by simply not buying insurance you don't need. The device does have a 1 year manufacturer's warranty. And there are many cell phone repair shops these days that don't charge much.
So it's up to you. Good thing is that you have plenty of options to choose from.

Asurion is NOT good insurance! You pay a monthly fee of around $8 and then a $100 (or $150 not sure which) deductible to actually get the phone replaced and they CAN still send you a refurbished phone as a replacement. So you pay for the phone twice and still may get a used POS! Don't waste your money. The standard warranty is a year with just about the same coverage (you just can't be at fault for any damages to get fixed).

I haven't checked out squaretrade yet, but imo a comprehensive insurance is a must. No matter how well u take care of ur phone accidents can happen and so can theft. To my knowledge, warranty only covers manufacturing defects, not incidental damage/theft.

Check your house insurance, mine is covered up to £700 for loss or damage, no excess to pay....

jdelforge5684 said:
I haven't checked out squaretrade yet, but imo a comprehensive insurance is a must. No matter how well u take care of ur phone accidents can happen and so can theft. To my knowledge, warranty only covers manufacturing defects, not incidental damage/theft.
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I would not say a "must". But worth considering if you have a history of issues. I used to buy it all the time, and after almost 10 years of never using it I stopped buying it and still was going just fine without it. I did get it on my Sensation though, because I got a very good deal from SquareTrade when I brought the Sensation through Ebay. The deal I got was <10% of what I paid for the Sensation, which is a price less than replacing it with a used one 2 years from now and less than I'd have to pay a repair shop to fix most any issue. So I'll get the insurance when I can get get a very cheap deal on it. Otherwise, I'll self insure, as in not buy it.
I'd certainly never use Asurion though. They got enough of my money in the past. In a year $8/month is $96 + $100(or higher) deductible = ~$200. So to pay about $200 or so for a refub of the same device is pretty terrible of a deal IMHO.
My old HD2 is the first device I've had that broke do to issues from drops over time, it's SIM slot broke after 16 months of ownership, that would have costs me about $225+ through Asurion, just to get a refub HD2 to replace it. I can get a nearly brand new HD2 for that price off Ebay tonight. But I didn't even want another HD2 16 months later, I wanted something new, so I sold the used broken HD2 on Ebay. The HD2 and it's SIM card with the Transformers movie fetched me almost $150 which went torwards Sensation accessories and more than paid for the SquareTrade coverage. I could have used that money to buy an HD2 in better condition if I desired, or paid less to get the broken HD2 repaired. But in no way does the math ever work for me to use Asurion ever again. If car insurance or home owners insurance were 50% of the price of the device new or 100% of replacement with a used version of the same, people would cry it was fraud.
kjt57 said:
Check your house insurance, mine is covered up to £700 for loss or damage, no excess to pay....
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For the vast majority in the USA, they won't cover a cell phone. And usually if they do, the deductible is as high as the price of the phone if not higher.

GET IT. I have it over 5yrs since I had my tmobile wing & even if you take care of it something could happen example my hd2 messed up when the electricity went out in my house the phone was connected to the tv and after that phone kept getting random boots. Just get it best investment you could do for your phone.

DEDUCTIBLE IS $130 for the Sensation according to Asurion website and literature.

I gladly pay $8 a month knowing that each year I can have my phone replaced twice. Lost, stolen, damaged no questions asked. Each time I have paid my $130 deductible I have received a brand new in box device. I have used it about 4 times now. They even send u a Sim card and it usually arrives the next day after u male the claim. But I will look into this other company u guys r talking about
Sent from my HTC Sensation Z710e using XDA Premium App

Your right $0 deductible for squaretrade but once Ur care plan is considered fulfilled you need to drop another x amount to cover you new device...
So to me that's the same as paying Asurions deductible.
Not to mention I paid a subsidized price for my sensation and if I was to buy another one I couldn't get it for that price again. So does that mean I'm screwed?
Coverage Amount For replacement payments:
You are covered up to the maximum value you paid for the item. Once we pay out that amount, your Care Plan is considered fulfilled. If you would like coverage on your new item, you need to purchase a new warranty for it.
For Repairs:
The Care Plan is good for multiple repairs, up to the maximum value of your item. Once the cost of repairs meets the full purchase price of the item, your Care Plan is considered fulfilled.
Sent from my HTC Sensation Z710e using XDA Premium App

Cell Phone Insurance

I saw some other threads and figured I'd share a new discovery of mine. Not sure if anyone has heard of them:
http://www.worthavegroup.com/
Very affordable insurance and beats out SquareTrade, I think.
Just finished a claim on my EVO 4G with SquareTrade and they closed the warranty once they reimburse me. So essentially, once they pay you for a new phone, your warranty is considered fully used regardless of how many years of coverage you have left. Worth Ave has unlimited claims and includes theft and loss and all that cool stuff for a good price. $50 deductible for $599 coverage for my new Epic 4G Touch (iPhones have different coverage but other devices like Android phones are the same essentially). Roughly $60 bucks a year flat fee. I did my research on them before hand and I've only read good things.
Just thought I'd share!
-Rip

Do they reimburse you or just send you a "refurbished" phone? I like the fact that SquareTrade reimburses you so you can go out and buy any new phone on the market and yes, then you do have to buy a new warranty but it is a totally "new" phone.

frodoboy said:
Do they reimburse you or just send you a "refurbished" phone? I like the fact that SquareTrade reimburses you so you can go out and buy any new phone on the market and yes, then you do have to buy a new warranty but it is a totally "new" phone.
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SquareTrade reimbursed me to the EVO's current market value ($450). They do not give out refurbs and I believe Worth Ave is the same. They are not actual repair shops so they are not entitled to give you a replacement or refurb. Either they pay for repair at an authorized/licensed repair depot or they reimburse you with good old cash to buy another phone at current market value.

Insurance
Hello,
I don't know about in the US but my mobile is covered under the "accidental damage" portion of my home insurance policy, sure it might cost me my excess but I will only pay it if I damage the phone which may not happen.

regal_beaver said:
Hello,
I don't know about in the US but my mobile is covered under the "accidental damage" portion of my home insurance policy, sure it might cost me my excess but I will only pay it if I damage the phone which may not happen.
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Usually homeowner's policies have pretty high deductibles, usually $500 or more and that basically leaves you without coverage on all phones.

I think this is covered in some other threads. But check with your home owners insurance. I can get a rider for mine that costs $18/year. It is $18/year for up to $5000 of computers, cell phones, software, peripherals, etc. Not $18/device. Just $18/year!
It is all risk coverage. So it covers theft, loss, damage (like dropping it). $50 deductible.
So check with your insurance carrier is you have home owner's insurance (or apartment insurance).

a case is my insurance policy.
These always have deductible, take a couple of days and get a refurb old phone.
With the way tech changes, always feel its just better to trade up to a new phone if you lose/break.

Mobile phone insurance?

Would you do this, especially with the potential chipping issue?
sent using HTC1S

i get insurance through my house contents insurance.
if you are suffering chipping issues, send it to HTC for repair / replacement..
you can get cheap insurance which covers theft / accidental damage.. which for a £500 id say is a must.

Thanks for the reply. I have never done insurance before, so no experience in it.
Already replaced one phone for chipping! Haha
sent using HTC1S

It is not necessary to waste any more money on extra insurance since its already covered by your warranty. I also strongly believe you will save more money in the long run by not buying insurance at all.
Lets say you buy the iphone 4s 16gb for 550 euro and you get applecare+ for another 100 euro. Well lets say you dropped it and cracked the glass. Then you need to spend another 50 euro service fee to get it repaired (not sure about the service fee though). So you spent 700 euro for your iphone. Now lets say you bought it without insurance and cracked the glass. Well you can sell your defective iphone for 100 euro. But that means you're still down 450 euro without a phone or 1000 euro if you buy a new iphone again. Compared to being down 700 euro with a phone.
The trick lies in the expectation. I believe you will not crack the screen nearly often enough to make it worth buying insurance for. Lets say you have 20% chance to crack the glass in your first year and 80% to never have any problems at all. Then you spend on average 0.2*1000+0.8*550=640 euro without insurance. With insurance 0.2*700+0.8*650=660 euro.
Warranty covers most of your damages though and accidental damages wont happen nearly as much to make buying insurance profitable.

wilcoholic said:
It is not necessary to waste any more money on extra insurance since its already covered by your warranty. I also strongly believe you will save more money in the long run by not buying insurance at all.
Lets say you buy the iphone 4s 16gb for 550 euro and you get applecare+ for another 100 euro. Well lets say you dropped it and cracked the glass. Then you need to spend another 50 euro service fee to get it repaired (not sure about the service fee though). So you spent 700 euro for your iphone. Now lets say you bought it without insurance and cracked the glass. Well you can sell your defective iphone for 100 euro. But that means you're still down 450 euro without a phone or 1000 euro if you buy a new iphone again. Compared to being down 700 euro with a phone.
The trick lies in the expectation. I believe you will not crack the screen nearly often enough to make it worth buying insurance for. Lets say you have 20% chance to crack the glass in your first year and 80% to never have any problems at all. Then you spend on average 0.2*1000+0.8*550=640 euro without insurance. With insurance 0.2*700+0.8*650=660 euro.
Warranty covers most of your damages though and accidental damages wont happen nearly as much to make buying insurance profitable.
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The difference there is marginal. The factor you are not including is peace of mind. You can't really quantify that. I had insurance on my iphone for 18 months, yes it was expensive (£13 a month) and yes I never used it. BUT if something happened to it (especially in first year) like getting lost/stolen and I had to be without an iphone for remainder of my contract I would of been devestated and would of been unable to afford £500 for a new phone. I could however afford £13 a month and the £100 excess IF it ever came to it.
Luckily my htc is only £8 a month for insurance and £50 excess which was a factor in me changing phones.

with my carrier its £5 a month, No excess fee. If you break it, They send a new one the next day and collect the old one

azzledazzle said:
with my carrier its £5 a month, No excess fee. If you break it, They send a new one the next day and collect the old one
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who is that with?

vodafone UK

that's cheap! they were £13 a month for my iphone.....
now through dial a phone (orange) though so going through my bank for my htc one s insurance

yes, going through bank could be a good choice.
I had an iphone insured through my bank (Barclays) for £5/month (now they want £6.5/month) which is effectively an account fee including mobile insurance and other stuff.
Claimed once when the screen of iphone was smashed, paid only £25 excess fee (unfortunately the insurer increased the fee to £75 first time, £100 second time/12 month).
At the moment, enjoying 3 months free insurance from my seller, then will terminate it and ask my wife to upgrade her bank account and get insurance from there.
Do believe with insurance is much better than without. but just IMO.

i can see pros and cons to both tbh.
as with any insurance its a lot down to personal choice and viewpoint.
I like not worrying about my phone too much, if i break it stupidly (when drunk for example) it will not cost me an arm and a leg.
My orange contract is panther £36 per month but dial a phone give me £7.50 credit a month (this pretty much pays for my insurance).
I think £36 a month for 600 mins, unlimited texts, 1GB internet, free Deezer, free sky sports, and insurance, and free handset is pretty frickin sweet!!!

hell no
Sent from my Kindle Fire using xda premium