New Verizon DEDUCTIBLES on protection plan

[Malloric]

Originally Posted by Scooby Snacks

I never buy insurance when I'm not legally required to do so. Why? Because insurance exists to make money for the insurance company. They don't really care about their customers. The vast majority of people who buy insurance of their phones pay far more in insurance premiums than their phones are even worth and never file a claim which is a win for the insurance company, not you. Otherwise insurance companies would go bankrupt. And phone insurance benefits have gone from great to suck over the years. You used to be able to pay a monthly premium and pay little or no deductible for a new phone, now you have to pay more and more to get a new phone if something happens. It makes much more sense for you to save your pennies and buy a used replacement phone if your phone breaks or a cheaper new one.

I typically haven't either.

$200 deductible is still a lot cheaper than the phones, which often run in the $600-800 range. Just depends how careless one is as to whether or not it's worth it. Last phone I broke was in college getting hit by a car on my bike... given, no smart phone back then so it was cheap to replace.

[PacoMartin]

Originally Posted by Ed_RDNC

Keep in mind that insurance is not about saving bottom-line money, but rather about getting compensated for an expense that would be beyond your ability to pay at the time of loss.

Thank you for that simple summary. From reading comments on this thread you would think that people are unaware that insurance is a business that is meant to be profitable. Of course insurance collects more money in revenue than it pays out in claims.

[Peregrine]

Originally Posted by Malloric

I typically haven't either.

$200 deductible is still a lot cheaper than the phones, which often run in the $600-800 range.

+ the $10 mo. don't forget.

[dontaskwhy]

Originally Posted by Peregrine

+ the $10 mo. don't forget.

I would never pay for insurance more than 2 years, but I can more easily come up the cost of a deductible vs. paying full price for a phone without insurance.

[cjbaby]

there also a company called worth ave group that insure all cell phones no matter what carrier you have $50 deductible very reasonable for my iPhone I paid like $120 for 2 years what I like about this company is they cover loss not many do

[Peregrine]

I would just get a used phone on Swappa until I could afford a new one.