Should I get insurance?

[zanemoseley]

So my Verizon LG G2 should arrive tomorrow. Insurance is now about $9 a month I think so its pretty pricey, in the past I had insurance but only used it once in about 12 years, used to be just like $5 too. My most recent phone was a prepaid Android and I didn't carry insurance as the phone was only $180. The G2 is probably over $600 at full price however. I was also looking at SquareTrade's warranties also but its $125/2yr plus $100 deductible.

I found an old link about free Wells Fargo cell insurance ($25 deductible) if you pay your bill with one of your cards https://www.wellsfargo.com/credit-cards/features/cell-phone-protection This almost makes me want to get a WF card just for this, my wife have an Iphone so just the free insurance alone would be about $20 a month.

 

[corkyg]

Put $9 a month away in a safe place and thus be your own insurer.

 

[RockinZ28]

Scam, unless you're a klutz.

Maybe good for the first 6 months if it's a newly released phone and you can't afford a replacement out of pocket. Beyond that, by the time you add up your monthly fee, the deductible to get another phone, the depreciation of the phone and the fact they give you back a used phone, it's not worth it imo.

Wells Fargo deal has a lot of stipulations, such as not covering lost phones, or cosmetic damage if the phone still works. Sounds like a hassle. Probably have to provide evidence and wait longer to get a phone replacement. I've been there with people that lost their phones, simply called their phone insurance and got a new phone shipped immediately.

One of my former coworkers was on his 6th replacement during a 2 year contract due to drops and losing phones. For people like that insurance is a godsend. Me, I never drop my phone or anything, they look brand new once I move to the next. Can easily afford to buy another in the off chance I do mess up.

 

[Oyeve]

IMO, insurance is a ripoff. You pay 10 bucks a month and then another 150+ when you need to replace a phone. So in a year if you bust your phone you have to pony up 300 bucks on a phone thats probably worth half of that after a year.

 

[Graze]

...NO

 

[teejee]

Insurance for things you easily can afford to repair or buy again if you loose them is a waste of money.

If you save the same amount of money you would spend on insurance on a savings account then you would easily have money enough to repair or buy replacement for all your accidents.
Only buy insurance for things that will cause financial issues if something happens. Or if you are much more careless then the average person.

So you should only take insurance for your phone if you have very low income or are careless with your phone.

 

[Bateluer]

One of my former coworkers was on his 6th replacement during a 2 year contract due to drops and losing phones.

I've never dropped any cell phone I've owned, but it still mystifies me that people can misplace a 650-700 dollar device.

 

[zanemoseley]

Just realized that my wife is using a Iphone 4s which will probably be replaced soon with another Iphone. We'll just keep it as a backup. I feel retarded for not thinking of this earlier.

 

[dainthomas]

IMO, insurance is a ripoff. You pay 10 bucks a month and then another 150+ when you need to replace a phone. So in a year if you bust your phone you have to pony up 300 bucks on a phone thats probably worth half of that after a year.

I pay ten a month to Best Buy and there's no deductible. Already used it once on my Optimus G when I dropped it on the driveway a few months after I got it. Brought in smashed phone, walked out with brand new one a half hour later. Already paid for itself.

 

[crashtestdummy]

My advice: Insurance is for things you can't otherwise afford to replace. If you can afford to replace your phone, don't insure it. If you can't afford to replace your phone, get a cheaper phone. The Nexus 5, Moto G and the low-end Lumias are every bit the capable tool that the higher end phones are. Everything that's more expensive is a luxury you should only invest in if you have the money to burn on them.

 

[Apex]

I pay ten a month to Best Buy and there's no deductible. Already used it once on my Optimus G when I dropped it on the driveway a few months after I got it. Brought in smashed phone, walked out with brand new one a half hour later. Already paid for itself.

Used to be no deductible. My wife's used it as well. Excellent plan.

9/1 it became $149.99 deductible, 3 claims limit in 24 months, doesn't cover lost or stolen.

http://www.bestbuy.com/site/Geek-Squ...at280100050014

No longer worth buying.

 

[iahk]

One of my former coworkers was on his 6th replacement during a 2 year contract due to drops and losing phones. For people like that insurance is a godsend. Me, I never drop my phone or anything, they look brand new once I move to the next. Can easily afford to buy another in the off chance I do mess up.

iirc, you're limited to 2 claims every 12 months with asurion. was that changed?

 

[Bman123]

Don't get insurance, just buy a otter box defender case if you have butter fingers. Have best buy price match amazon on the case. Best $25 I've ever spent has been on defender cases

 

[zanemoseley]

Otter box is working on a case for the Verizon version of the G2, I'll probably get it as piece of mind.