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Insurance/equipment protction?

D

durangojim

Android Enthusiast
Just wondering what you will choose, if anything? I'm leaning towards squaretrade as it seems less expensive than Verizon's coverage.
 
I have total protection on all my Verizon smartphones... I have Assurion Insurance and extended warranty. I've had a chance to use it several times. Squaretrade is good if you break your phone, but if you lose it, you're out of luck.

I've used Squaretrade to have my Sony laptop repaired. They're good for that. However, you have to ship out your item. So, for phones, I prefer Assurion.

Steven
 
Doesn't Assurion have a high deductible? And is that the insurance you get directly from Verizon?

I went without insurance on my OG but I don't think I want to do that again.
 
Steven58 said:
I have total protection on all my Verizon smartphones... I have Assurion Insurance and extended warranty. I've had a chance to use it several times. Squaretrade is good if you break your phone, but if you lose it, you're out of luck.

I've used Squaretrade to have my Sony laptop repaired. They're good for that. However, you have to ship out your item. So, for phones, I prefer Assurion.

Steven
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I can't see myself loosing my phone, but I can see myself dropping it (I feel like Austin Powers, "Allow myself to indroduce...myself"):D. For the cost of assurion ($10/month plus $100 deductible) I think squaretrade would be the better deal for me.
 
I just don't trust Assurion to not replace my phone with something worse. I probably won't get anything because once custom ROMs based on ICS are available I will be trying them out...so technically my warranty is voided anyway.
 
I'm not going to get equipment protection. As long as I get a good phone case and I'm not an idiot, the chance of my phone breaking is very low. Also, I can afford to pay for a replacement.

I would suggest reading up on when insurance is worth it. You have to realize that insurance companies are in business to make money. Insurance companies have done the calculations to charge an amount for the insurance such that they are paid more than it costs them to replace your phone based on the probability of you needing it replaced.
 
I've had Asurion on every smartphone I've had, and have had to use it with all but one of them. I've found them to be easy to deal with, and I've never had a problem with the replacement they've sent me. While I haven't lost my phone yet, I'm not willing to take the chance that it won't happen and not buy the VZW coverage. The cost of the insurance (and it's $7, not $10) is worth it to me. $168 for the insurance over a 2 year contract, plus $99 deductible for replacement phone - that's $268 total if I break/lose my phone compared to $500-600 to replace it retail. Others feel that it's worth the chance, and if that works for them, great. I just don't like that uncertainty.
 
dawnierae said:
The cost of the insurance (and it's $7, not $10) is worth it to me. $168 for the insurance over a 2 year contract, plus $99 deductible for replacement phone - that's $268 total if I break/lose my phone compared to $500-600 to replace it retail.
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Doesn't the insurance use refurbished phones as replacements or do they actually give you full retail phones? Just wondering because that changes the math a little.
 
Have had nearly 30 mobile phones in the last 10-11 years and never had insurance. Not one of them was broken and needed out of warranty repair. Not one was lost. Not one was damaged. Insurance you say? Unless you have it covered under your house insurance at no extra cost or you are going to get the full amount back at the end of the term it is a waste of money.
 
I usually keep Verizon's insurance (assurion) on my phones, the damage protection only, for the first 6 months - year. Just until the used market prices come down a little. Squaretrade is cheaper, but not only is it basically only good for repairs, but the repair limit is much lower as well, basically two repairs and you have used up your coverage. Verizon's limit basically you will have unlimited replacements over the life of your phone.
 
dawnierae said:
I've had Asurion on every smartphone I've had, and have had to use it with all but one of them. I've found them to be easy to deal with, and I've never had a problem with the replacement they've sent me. While I haven't lost my phone yet, I'm not willing to take the chance that it won't happen and not buy the VZW coverage. The cost of the insurance (and it's $7, not $10) is worth it to me. $168 for the insurance over a 2 year contract, plus $99 deductible for replacement phone - that's $268 total if I break/lose my phone compared to $500-600 to replace it retail. Others feel that it's worth the chance, and if that works for them, great. I just don't like that uncertainty.
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lets also not forget that after the original Manufacturer warranty the TEC comes with an extended warranty. They'll replace a defected phone at NO CHARGE. With a refurb but i've personally never had any issues with the refurbs i've gotten.
 
viperman2008 said:
Doesn't the insurance use refurbished phones as replacements or do they actually give you full retail phones? Just wondering because that changes the math a little.
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At their option, yes, they can. However, that doesn't really change math. The math is what it is. If you lose/break the phone, you still have to replace it at retail. If you get a phone replaced under manufacturer warranty, you also run the risk of a refurb. And as trophynuts mentioned, refurbs don't necessarily mean a "less than" phone. I've had numerous replacements under both warranty and through Asurion, and have never had a problem.

Again, it's definitely a matter of preference, but for me, the math works in my favor to buy the insurance and not have to cough up $600 at one time.
 
I've had asurion replace two Thunderbolts for me .. One was new the other was refurbished. The good thing is both came with new batteries, 32gb micro sd and all the accessories it came with new . But when you send back your phone all they want is the phone so I got new chargers, battery , 32gb card etc... So it's well worth it IMO .
 
i said to hell with Squaretrade for a mobile phone protection plan after having it with my Nexus One. They took forever to complete my claim and wanted me to send it in before receiving a replacement. On top of that, the dollar coverage only lasts up until the documented purchase price.

Squaretrade may "appear" to be a better deal on paper. They definitely sold me on the deductible and accidental damage stuff, but after seeing that my coverage could potentially end before two years or whatever timeframe that you purchase, i requested that Squaretrade just give me the maximum available dollar value of my agreement and call it a day.

Since then, I have been enrolled in VZW's TEC stuff, for $7 a month with whatever deductible. I have yet to use it, but I also enjoy the peace of mind of getting a replacement phone for a maximum of $183 over the course of a year ($99 deductible, $7 a month x 12 months) regardless of what happens. whether it be thieved, dropped into the ocean, broken in half, run over multiple times...
 
I have not had to file a claim in a long time but you never know. I don't really have the $600 to just replace a phone if I break it or lose it so I don't see the $7 a month as a bad investment. I like Asurion because it is really convenient and they cover everything. Best Buys insurance seems more like a scam to me and they don't cover lost/stolen and square trade I believe is just damage. The last 2 I have not looked over the terms and may or may not cover everything like water damage and other things. I know Best Buy does not cover "intentional" damage to your device. Who are they to make that judgement?

I had to file an Asurion claim for my girlfriend at 10pm for her lost Evo 4g and we had the brand new replacement at 10am the next morning. The fact that they have people shipping out that late and overnighting really sealed the deal.
 
The good thing about Asurion is if you can sell your phone for more than the insurance cost. I had my OG Droid replaced twice from water damage. If it was worth more than the deductible and I had claims remaining, I may have to file a claim for water damage, get a replacement that is refurbed, upgrade, and sell the refurb.
 
A year ago I was telling all my friends to avoid Best Buy's warranty like the plague, but it seems they've gotten their act together. My first replacement Droid (under their old plan) took almost 30 days, but the second one (with their new 'rapid exchange' policy) took just 5 days -- no deductible either.

I think I'm probably going to get the Nexus from Best Buy just for their warranty, assuming they haven't increased the price substantially from the $10-$12/mo. it was previously.
 
What about the manufactures 12 month warranty? If my phone goes out within the first 12 months, won't Verizon give me a new/refurb anyway?

Eddie
 
Slow Eddie said:
What about the manufactures 12 month warranty? If my phone goes out within the first 12 months, won't Verizon give me a new/refurb anyway?

Eddie
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Yes but it has to be a defect. If the phone shows any signs of physical damage, water damage, or if they can tell that the phone has been rooted they can deny the claim.
 
Am I reading this right?

Verizon TEC is just Asurion ($5.18) with extended warranty ($1.81).

But (most) phones come with a 12 month warranty anyway... So, we pay 12 x $1.81 for the privilege of something we already get for free and the ability to continue paying afterwards to extend that warranty. But most phone issues you would have after 12 months aren't going to be warranty issues, they're going to be insurance issues.

So, is the best option to go with Asurion only and *not* TEC?
 
SkylerDurden said:
Am I reading this right?

Verizon TEC is just Asurion ($5.18) with extended warranty ($1.81).

But (most) phones come with a 12 month warranty anyway... So, we pay 12 x $1.81 for the privilege of something we already get for free and the ability to continue paying afterwards to extend that warranty. But most phone issues you would have after 12 months aren't going to be warranty issues, they're going to be insurance issues.

So, is the best option to go with Asurion only and *not* TEC?
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No, you're paying 1.81 x 24 months for an extra 12 months of warranty. If you get Asurion and not TEC, and your phone just dies in month 13, you are out of luck without it.
 
dawnierae said:
No, you're paying 1.81 x 24 months for an extra 12 months of warranty. If you get Asurion and not TEC, and your phone just dies in month 13, you are out of luck without it.
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If this is the case now is a good time to accidentally forget to take your phone out of your pocket when you jump in the pool
 
ChiTownJim said:
If this is the case now is a good time to accidentally forget to take your phone out of your pocket when you jump in the pool
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I guess that was my point... you pay for the first 12 months, which you get for free, then you get to keep paying for another 12 months for something that can easily be replaced by the insurance...

I still feel like I must be missing something.
 
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