Asurion, cell phone insurer, reaping profit

The amount charged for insurance is insane. $10 a month, over the length of a 24 month contract is $240. If you do end up using the insurance, there is a $150 deductible. That is nearly $400, pretty much the cost of buying a phone off contract anyway.
Waste of money.

 

Yikes! I didn't know that the fees can get that high! I have just the insurance for my phone and it's $6 per month. I don't normally insure phones, but my phone is $530 new and I don't have the money lying around to replace it. It came in handy for me when I dropped the thing and a bus ran over it. $90 and one day later, I have. NEW replacement. I couldn't believe that I got a new phone. I have 2 other lines on my plan and I have no insurance. If they break, I can just replace them with 2 4 year old phones that can be activated.

 

$8 a month and a $90 deductible on Verizon. On a phone like the X that retails at what, $550, Insurance saves more than $200.

 

Haven't had phone insurance in 15 years. Never needed it, and for me, not worth the extra monthly cost.

 

Honestly, with apps like Lookout that will locate your phone via GPS to within a few feet, it is almost impossible to lose a phone. Sure, you can still break it, but I have yet to have that happen.

 

At least with Sprint, insurance only is $4/mo and the deductible is never above $100 ($50 for regular phones).

Still, since I have 4 lines on my account, one of them is almost always due for an upgrade or soon to be eligible, so I just keep my old phone handy and will wait it out if I ever lose my phone.

 

On Verizon, it depends on the phone chosen. Smartphones and some high end feature phones are subject to higher premiums and deductible. Normally, it's $6 or $8 per month with the $90 deductible and $4 or $6 monthly with a $50 (probably less) deductible. I think MetroPCS has a similar policy as well. I could have chosen the eight dollar option but I wanted to keep the two bucks... and the extended warranty doesn't apply in Florida. Something about the laws, I think. So if phone breaks after 12 months, I can just pay $50 and be done with it.

I wish I had different lines up for upgrade at various times... mine is eligible 9 days after the other 2 lines lol.

 

Yeah, with Sprint now you have to pay $35 without insurance if you want a warranty repair, even if the warranty hasn't expired. If you want free warranty work you need to ship it off to the manufacturer. However, now if you break your phone but it is repairable (cracked screen, broken hinge), you still can pay Sprint just $35 to get a new (refurb) phone even if you don't have insurance. It seems like each company has plusses and minuses.