Insurance for Smart Phone--Yes or No?

Discussion in 'Off The Beaten Track' started by Ageless, Mar 21, 2013.

  1. Ageless

    Ageless Active Member

    193
    29
    28
    Has anyone ever gotten insurance on their smartphone? I recently purchased a refurbished phone (which I'm loving). I'm wondering if it's worth getting insurance. The cost of the refurbished phone equals about 4 months of premiums. The model phone I have carries a deductible of $199. Does anyone have any experience with phone insurance and in your opinion is it worth the cost?
     
  2. Skittl1321

    Skittl1321 Well-Known Member

    12,627
    1,907
    113
    It seems like it would make more sense to just 'self insure' and buy a new phone if you need to. Doesn't seem very likely it will break in 4 months, and the deductible is pretty high, IMO.
     
  3. Aceon6

    Aceon6 Get off my lawn

    7,028
    1,446
    113
    Unless the phone is in a high theft zone (open locker, shared charging cubby) or used where thefts are rampant, it's cheaper to self insure. Unless its a super duper, latest greatest, you can buy a refurb for less than the deductible.
     
  4. julieann

    julieann Well-Known Member

    3,730
    365
    83
    It's a complete waste of money. At those prices you can buy a brand new phone even outside the plan if needed...but after 17 years of cell phone use I would have never used it.
     
  5. aliceanne

    aliceanne Well-Known Member

    2,441
    581
    113
    I have been an Iphone user since they came out. I have never bought insurance, and I have never lost my phone or had it stolen. The one time I had to replace one for a dead battery it cost me $70. However, one of the executives where I work has lost her IPhone several times. The first time she did not have insurance and it cost her $700 to replace it (the "retail" price of the phone).

    If you are prone to losing or damaging your phone and have a contract, I would check the contract to see how much a replacement phone costs and then weigh the cost of insurance against that. Otherwise I wouldn't bother with insurance.
     
  6. JeffClair1979

    JeffClair1979 Scissoring Cizeron!

    427
    88
    28
    I think if you're careful with it, you should be fine without the insurance. I have an iPhone 4 that's about 2 years old now, don't use a case, and I haven't had a problem. Then again, I treat it like a baby. A $600 baby :D
     
  7. Louis

    Louis Tinami 2012

    11,587
    3,209
    113
    The deductible is very high. :/

    I've had terrible luck with iPhones - had my 3 replaced under warranty once, then had it stolen, and then went through four(!) iPhone 4 models (all under warranty - and bizarre issues, too) until the phone portion of my iPhone 4 mysteriously stopped working after 2.5 years. I'm gentle on phones and didn't cause any trauma to the ones that broke.

    I debated insurance on the 5, just because I've had some much bad luck, but it just doesn't make sense from a cost-benefit analysis.
     
  8. orbitz

    orbitz Well-Known Member

    10,057
    831
    113
    ^ So what will it take to convince you to make the switch to android ? :)
     
  9. Karina1974

    Karina1974 Well-Known Member

    2,678
    247
    63
    Here, here. The Galaxy S phones are superior to any iPhone.
     
  10. Skittl1321

    Skittl1321 Well-Known Member

    12,627
    1,907
    113
    I LOVED my Android Incredible. My husband has a Galaxy now, and despite being a bit big, it is fabulous.

    I got an Iphone 4, and it seems alright, I'd rather have an Android though as I don't care for Apple's policies and there are a few functional things I miss, sadly, my nephews pretty much only communicate with me via Facetime, so the Iphone was necessary.
     
  11. barbk

    barbk Well-Known Member

    6,108
    643
    113
    Your homeowner's or renter's insurance policy might have a cheap personal articles coverage -- I think mine is $89/year to cover a laptop against the normal things and spills, drops and other damage. I know that I could have included a smart phone, but mine is one of the dumb kind still. (Though I'm thinking about buying one of the smart kind with a pre-paid plan, which looks hugely cheaper than the regular cell plans.)
     
  12. Ageless

    Ageless Active Member

    193
    29
    28
    Mine is a Galaxy SIII and I love it. Like Jeff, I treat like a baby. My husband has an Iphone 4, but we both like mine better.

    Thanks for the input everyone. I really didn't think the insurance was necessary, but was just wondering if there was an angle I hadn't considered.