Insurance?

[dockmaster]

Just got a notice that my insurance monthly payment will go down to 6.99 a month but the deductible will go up from 89 to 99. Since my phone will be out of warranty in another week (1 year) I'm wondering if insurance is really worth it. If I loose it, I can get another Eris (which I probably wouldn't) off the internet for about the same price as the deductible plus what Ive3 got into it on insurance. Insurance only covers lost stolen or damaged anyway...
just thinking..

Rock on Rooted with XtrSense!

BillD

 

[Podivin]

Yep, got the same notice.
I would say that now that the Eris is out of warranty is when you DO need insurance.
However I agree with your assessment that you could most likely find a used phone of some sort for about the same amount as the deductible. The problem there is making sure you get a 'clean' phone so you don't have any problems getting it up and running.

 

[doogald]

Another strategy is to set aside the deductible and then the same amount per month in an account of your own - say, an online ING Direct account or something - and use those funds to replace a phone if you need to. I'm 17 months into owning this phone; at the old $9 per month, plus the old $90 deductible, I'd have $243 plus interest (albeit that's not much these days) to pay for a new phone if something went wrong with this one. But, this way you are paying yourself instead of some company for whose services you may never use.

 

[jumperwire]

Another strategy is to set aside the deductible and then the same amount per month in an account of your own - say, an online ING Direct account or something - and use those funds to replace a phone if you need to. I'm 17 months into owning this phone; at the old $9 per month, plus the old $90 deductible, I'd have $243 plus interest (albeit that's not much these days) to pay for a new phone if something went wrong with this one. But, this way you are paying yourself instead of some company for whose services you may never use.

I did the same thing, but I didn't open an account. That's way to high for insurance.

 

[dockmaster]

I agree, the deductible is way high. I cx my insurance today. Putting the money away is a good idea if you need to.
I got to thinking, if I had to replace the phone, I wouldn't spend a hundred buck on another Eris, I'd upgrade to a TB or something newer.
Thanks for the input

BillD

 

[bberryhill0]

I think the insurance is mostly a scam but I haven't dropped it yet.

 

[doogald]

I think the insurance is mostly a scam but I haven't dropped it yet.

I've used it on other phones in the past (once my own stopped working; twice for my teenaged son - no explanation necessary) and it's definitely not a scam - they get you a new working device (with an extra battery and charger) the next day. With my first claim, as I said, the phone just stopped working after the warranty was done. This is not something covered by the insurance, but when I called she asked if I had ever dropped the phone - I said, yes, of course, it had been dropped - and they covered the claim.

It should also be noted that they will cover only two claims on a single line in a twelve month period.

It's expensive, IMHO, but not a scam. Though, of course, if you drop your phone in the toilet the second month that you own it, it's definitely not expensive, compared with having to buy a new handset full-price.

At this point, though, I will not carry it again. I'll hold on to my Eris as a backup for whatever I replace, and then just pay what it takes to get a replacement if I really need to. I'm lucky enough to be able to afford that.

 

[bberryhill0]

I guess it's the backup that I'm worried about. I switched to Verizon to get my Eris and they don't allow phones from other networks to be activated on their system. When I upgrade in September I will finally have a backup phone and will probably drop the insurance.