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Phone insurance?

I know there's some threads around, but none of them are exactly what I'm looking for. I'm switching to the EVO V soon and I was wondering whether or not I should get an insurance plan for it. I've had the VM insurance for $5/mon. since I got it in October, but I was just reading the fine print and they basically don't anything that happens to the phone. Here's a few excerpts from the insurance info: http://www.virginmobileusa.com/resources/ASVI-099-NY-EN-SP_final2_3_2011.PDF
"b. Cosmetic Damage
We will not repair or replace any cosmetic damage,
however caused, that does not affect the manufacturer’s
intended use. This includes, but is not limited to:
1. Cracking, marring, scratching or warping;
2. Change in color or other change in the exterior finish."

Exclusions:
"d. Wear, Deterioration, Latent Defect
1. Wear and tear, deterioration; or
2. Hidden or latent defect, including equipment design
defect, or any quality in the property that causes it to
damage or destroy itself."

It also says that they can replace your device with refurbished parts/devices.



And then there is the warranty available from Square Trade that is $70 for 1 year of coverage including accidental damage, with a deductible of $99. But even that says this in the fine print:
"We do not cover loss, theft, willful damage or damage occurring through gross misuse."
I guess all warranties say things like that, but it worries me a little to pay that much for insurance that I probably won't need just to think that they could weasel their way out of it. Then there's the Best Buy coverage that doesn't cover accidental damage.

I don't know if I should get any of them. I'm pretty careful with my phones. The only one I've ever broken in my whole life was a $6 At&t prepaid phone that I dropped in a sink full of water at work, but that was me just being extremely careless and stupid, something that doesn't happen with any of my electronics anymore.

This is getting long-winded. Anyway, I'm just wondering if anyone has any thoughts/experiences with phone insurance/warranties that they can share.

Edit: I should also point out that I've already purchased a sturdy, dual-layer case for the Evo that should protect it on the rare occasion I drop it.
 
Sounds like you already know the answer. I never get phone insurance. Once you consider the monthly cost and the deductible you're practically paying for a new phone anyway, plus you have to deal with Asurion and you'll probably get a clunker refurb phone anyway. It's not just VM-- basically every carrier outsources the service to them now, and they're terrible.

Better you save your money all year and in the event your phone breaks or you lose it you just walk over to a store and buy a new one on the spot instead of having to file claims and being without a phone while you worry about it in the mail.
 
I know there's some threads around, but none of them are exactly what I'm looking for. I'm switching to the EVO V soon and I was wondering whether or not I should get an insurance plan for it. I've had the VM insurance for $5/mon. since I got it in October, but I was just reading the fine print and they basically don't anything that happens to the phone. Here's a few excerpts from the insurance info: http://www.virginmobileusa.com/resources/ASVI-099-NY-EN-SP_final2_3_2011.PDF
"b. Cosmetic Damage
We will not repair or replace any cosmetic damage,
however caused, that does not affect the manufacturer
 
Best Buy has a 1 year accidental damage plan that is 39.99 for 1 year i have it on my Evo.

The problem with that is I researched Best Buy's accidental damage plans when I bought my laptop and I found a lot of stuff with people saying they accidentally broke their computer and took it to Best Buy to get it fixed/replaced under the warranty they bought and Best Buy told them that it looked like it had been abused/neglected which in the fine print says is not covered. So basically Best Buy can say any accidental damage is abuse and deny you, which is exactly what happened to many people. I buy a lot of things from BB because of their prices and RZ program, but I think I'm done buying their warranties.

And since I posted this thread, I read some things about people saying to just save your money and put it aside in case your phone breaks, just like the post up there ^^^ said. I think I might just do that. Instead of buying a plan, I'll just put a little extra into my savings every month so it'll lessen the blow if something does happen and I need to replace the phone. And if I don't need to replace it, I have an extra $300 saved up.
 
i recommend u if u buy it from best buy "buy the geek squad" 14.99$ 2 year coverage it helps with all the hassles against vm.

i currently have it. and they also cover ur phone if the screen craks also.
 
I don't know if this includes insurance for houses, but there are some apartment renter's insurance that cover devices in the residence.

State Farm is one - there must be others, also.
 
It doesn't damage but virgin does honor the manufacturer 1yr warranty. So if phone screws up or stops working properly they'll switch it out for you. If your looking for protection against theft, damage or liquids you'd have to get insurance thru someone
 
Insurance for a prepaid phone usually doesn't make economic sense. At $5 per month, that's $60 a year for a $300 phone, with a $100 deductibe. And you get a refurbished phone, not a new one.

So in essence, you are paying $60 a year for the chance that you lose or damage your phone to receive $150 of insurance value (assuming market value of a refurbished evo v 4g is $250). That assumes any damage isn't covered by the 1 year manufacturer warranty.

That loss is an economic risk that I believe people can deal with without insurance.
 
Insurance for a prepaid phone usually doesn't make economic sense. At $5 per month, that's $60 a year for a $300 phone, with a $100 deductibe. And you get a refurbished phone, not a new one.

So in essence, you are paying $60 a year for the chance that you lose or damage your phone to receive $150 of insurance value (assuming market value of a refurbished evo v 4g is $250). That assumes any damage isn't covered by the 1 year manufacturer warranty.

That loss is an economic risk that I believe people can deal with without insurance.
where at can you buy them refurb? from what i understand is you can buy a new $300 + Tax or a used one with scratches $150 so to get a refurb i think its not a bad price $100 for a phone you paid $300 for and so what if its a refurb.. that's even better then lol no bugs... it will look new im sure of it i dealt with them before and all phones look brand new that i had got
 
where at can you buy them refurb? from what i understand is you can buy a new $300 + Tax or a used one with scratches $150 so to get a refurb i think its not a bad price $100 for a phone you paid $300 for and so what if its a refurb.. that's even better then lol no bugs... it will look new im sure of it i dealt with them before and all phones look brand new that i had got

If you're in the habit of leaving your phone behind on the bus or use it as a replacement while skipping stones then yes I can definitely see this making good economic sense. ;-) And if you really believe that refurbs don't have bugs obviously you have never received 6+ replacement Triumphs like I have.
 
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