questionsever had to rely on phone insurance? i have!

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vote-for6vote-against

I've received the actually NEW phone in the original package, just like the originally new phone I purchased and it's really, really new. Wonderful, even.

If I had tried to purchase a new phone, I would have had some major issues finding a replacement for this exact phone as they don't make it any more.

Was it worth the insurance costs (monthly) along with the deductible or should we have found used/refurbed/new phones from another source for cheaper? What's the best way to deal with something like this?

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I purchased insurance on our phones when we got the GS3s last December. I played it smart and went with Squaretrade when they offered 35% off and paid just a little south of $100.

The best part is I only bought one warranty. I didn't submit the particulars -- I figured whoever breaks their phone first gets the file the claim. Odds are, we won't both break our phones during the "useful" periods of owning them and this way I don't double down and lose twice.

I think the deductible is $50 btw

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It is as simple as this: If the phone companies did not make money on insurance, they would not offer it.

An Otterbox would have been cheaper than your deductible, let alone the payments and deductible together. The phone insurance is a money maker for THEM, not you.

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nope, I had it on my old moto razr, then when I dropped 1 year in to the contract, the hinge snapped and the circuit board cracked. Went to the sprint store, and found out I had to pay a $50 deductible to get a refurb RAZR, when I could already buy a refurb on ebay for $40.... that "insurance" was a waste of money.

Now I just stick with an Otterbox case/cover, and a screen protector on my HTC EVO. It's been dropped on concrete probably 4-5 times without any damage.

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@morriea: Yes, they do make money on insurance because most people won't use it. If you are high risk, they won't sell you insurance.

One of my co-workers damaged a phone and got a new phone under the insurance. A month later her phone ended up in the pool. The insurance replaced that phone too and then cancelled her insurance.

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If you don't feel comfortable having a phone without insurance to cover the cost if it breaks, then maybe you should consider a cheaper phone to begin with.

I've always gone the route of no contract plans where I bring my own phone. I go to ebay and buy a nice used phone that will work with my desired carrier and don't worry about insurance either.

Also, my phone bill run < $20 per month so I'm pretty self insured when it comes to needing another phone. If there is a need, I just go buy one.

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I accidentally ran my $50 LG smartphone through the washer and dryer in my pants pocket. I called Tracphone to ask if there were any discounts I could get to replace it, and after confirming that the phone was irretrievably dead, they overnighted me a new one and it was free as long as I sent the dead one back by return mail. The main reason I haven't switched to Republic Wireless is the $250 phone. I've never lost a phone but I have destroyed a couple and Tracphone's always been generous on replacements. I don't know if I want to spend $250 on a device that is so easily lost or damaged.

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I have a clumsy habit of destroying phones. I had the insurance once, years ago, but I realized I could do better, money-wise, by buying a refurbished phone on ebay. This way, I don't lay out any money until I actually break something. I've never had a problem with a refurbed phone I've bought on ebay.

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For me phone insurance wasn't worth it. My phone cost me $200, squaretrade was $125 plus a $99 deductible. 125+99= I could purchase a brand new phone instead. If I had an iPhone or something crazy expensive like that, then maybe it would be worth it, but I have a MyTouch Q and if it broke I could either buy a new one or buy a comparable phone. In all actuality I would probably downgrade to my old phone I never got rid of - the original Samsung Gravity. I have a $15 unlimited text, $.10 a minute no contract plan, so the full capabilities of my phone are only used when in wifi range, so downgrading wouldn't be an issue.
I should add that I very rarely drop my phones, I can only remember dropping a phone twice, and one time it was because my hand went numb. I tend to be very careful with my phones because they aren't just phones to me, they are the devices that hold sim and memory cards full of videos and pictures of friends, family, and memories. No insurance can get pics back.

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"I tend to be very careful with my phones because they aren't just phones to me, they are the devices that hold sim and memory cards full of videos and pictures of friends, family, and memories"

Please tell me that you regularly back those files up! If the pictures are important to you they should be stored in at least two separate places.

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About seven or eight years ago I had phone insurance and had to make a claim. It was my third phone of that particular model, and I'd had all sorts of problems with it (hence it being my third one). The third one suddenly got a battery short in the middle of the night that caused it to burn a hole through itself and produce acrid smoke. When I tried to file a claim on it, the insurance company insisted on covering it under "physical damage" which normally applies to dropping it, etc., although they had a category for "electrical failure" which is what the problem actually was. The "physical damage" claim caused me to pay a $100 deductible while the "electrical failure" would have been $50. I also requested they send me a different model of phone, anything else, because I had had so many issues with the model I had, but they refused.

Since then I've stopped getting phone insurance and I've never broken a phone. For me, it just isn't worth it.

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A dear friend is a commercial account tech for "Vurrizon" (8 years)-- she bluntly confirmed that you are financially better off avoiding insurance entirely. Do the following instead:

Save the monthly fee and deductible (also, attempt to calculate the many ways they try to avoid paying you lol) and put it towards the next phone purchase outside of the company.
With V-rizon, this will also avoid the 2 year contract that comes with buying their phones. Now you are free of false indemnity and contractual obligation in one go. Hope this helps.