Insurance the question is to buy or not to buy

[azonie]

I have new iPhone and debating if I should buy the insurance or not. Seems like at $10 a month and $160 deductible it is too expensive.
What do others think?

 

[loco]

I have the same delima. With 4 phones on my account, I really can't afford to add another dime to my bill. I've heard of squaretrade offering insurance for a one time fee of 80 dollars a year. I think I'm going to look into their service instead of Verizon.

 

[beezy]

I have new iPhone and debating if I should buy the insurance or not. Seems like at $10 a month and $160 deductible it is too expensive.
What do others think?

To me that's crazy. After 1 year you are paying 280 dollars assuming you need it. I would just go buy a used one. Even if I had to roll back to a 3 it's still better for me.

 

[gforeman]

Call your Homeowners insurance. I have a rider for equipment (cameras, computers). I added my iPhone with ZERO deductable for damage or loss for $30 a year.

As far as warranty work, it's covered for a year by manufacturer, and since I used my Amex, I get an aditional year.

Me thinks I'm covered

 

[k4kai]

I have new iPhone and debating if I should buy the insurance or not. Seems like at $10 a month and $160 deductible it is too expensive.
What do others think?

To me that's crazy. After 1 year you are paying 280 dollars assuming you need it. I would just go buy a used one. Even if I had to roll back to a 3 it's still better for me.

How do you "roll back to a 3" on Verizon? The "3" is a GSM only phone, where Verizon is a CDMA phone; totally incompatible.

We were going to sign up for SquareTrade's 2 year plan for a little over $80 for each of us, but decided to go ahead with Verizon's Total Care coverage for our two new Verizon iPhones. My rationale was even though the cost (and deductible) was higher, our two phones would be covered for essentially all risks for as long as we own them. We feel that it is less traumatic to our (retired/fixed income) budget to pay the $20/monthly cost than have to come up with $600 or more. Also, with the Verizon sponsored plan, we will have a replacement phone in 24 hours. It appears that it could take a lot longer to complete a settlement with SquareTrade.

 

[k4kai]

Call your Homeowners insurance. I have a rider for equipment (cameras, computers). I added my iPhone with ZERO deductable for damage or loss for $30 a year.

As far as warranty work, it's covered for a year by manufacturer, and since I used my Amex, I get an aditional year.

e thinks I'm covered

I called my auto/homeowner insurance company (USAA) to inquire about this. They flatly stated that they DO NOT insure cell phones for loss or damage. So...I called our local State Farm representative and they too stated that they have recently stopped insuring them due to a significantly high rate of claims. I probably would not have changed insurance carriers because the increase in premiums for base policies (without iPhone coverage) would have increased significantly more than the cost of my Verizon coverage.

 

[John88]

I bought the squaretrade ins. but refunded it after reading about Apples OOW Service. it's like having a $199 deductible with no initiation/monthly fees. Of course it's NOT insurance, but it's nice to know you don't have to buy another at retail price if you do break it, and is eligible for Apple's OOW Service. I'm going to take my chances without insurance for the iPhone, it's just too expensive... I'm not trying to tell you to not get insurance. If you got the extra funds, go for it.

Apple - Support - iPhone - Service FAQ

"If you own an iPhone that is ineligible for warranty service but is eligible for Out-of-Warranty (OOW) Service, Apple will service your iPhone for the Out-of-Warranty Service fee listed below.

iPhone 4 Out-of-Warranty Service 16GB & 32GB $199

For example, an iPhone that has failed due to damage or liquid damage is eligible for Out-of-Warranty service. However, certain damage is ineligible for OOW service, including catastrophic damage, such as the device separating into multiple pieces, and inoperability caused by unauthorized modifications."


If you're worried about losing or getting it stolen and want FULL coverage Verizon/Asurion insurance is the way to go. They are very friendly and they do ship a new phone the next day.

 

[azonie]

Looked at the Square Trade and it is a good price with only a $50 ded. But don't think it covers against being lost or stolen and think the Verizon does??

Anyone have this coverage and had to use it. How was your experience

 

[azonie]

Found another one called Safeware. Looks like it is a little more at $128 for only 1 year with same $50 ded but also covers theft.

 

[wildrage]

I don't understand why someone would do $10/mo plus a $160 deductable when Apple will pretty much replace your phone for $199.

Granted, this doesn't cover a stolen phone, but I think I'd take my chances there. Stolen CDMA phones are also uselss, as the carriers will lock out their ESNs.

 

[azonie]

tell me how you get a replacement from Apple for $199. How do I find such information

 

[techdad2]

Check out Square Trade, got the 2yr contract for $81 (verizon special) covers all except loss/theft with a $90 Deductable.

 

[epphllps]

Maybe more people will chime in on the Apple OOW service and why that is superior to insurance. I see the point being made but why haven't more people chosen that route?

 

[pigeon]

I don't think it's worth it. Out of many many friends I have with the iphone4, about 2 of them have insurance. None of us have messed up our phones yet and we are very very active. If something is wrong with the software, apple will take care of it anyways.

 

[azonie]

Maybe more people will chime in on the Apple OOW service and why that is superior to insurance. I see the point being made but why haven't more people chosen that route?

Can you provide more on what the Apple OOW service is?
Does it provide coverage if you drop phone?