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I have been paying around $12/month for insurance over the last year. I'm wondering if it's worth it. I just traded my iPhone 7 to an iPhone 8 plus. I drop my phone all the time, but it has never been damaged due to the case (Spigen's Tough Armor) and a tempered glass screen protector. I also thought the phone may be more fragile due to it being made out of glass. Thoughts?
It really depends on the person. In your specific instance: hell no. If you are going to carry it around in that kind of a case, you are wasting money on insurance. Carry it around naked? Maybe.
$12/mon x 12 = $144. You have at least a $150 insurance deductible: $294. You're halfway to a new phone already. Assurion likes people like you (people who have insurance but will never make a claim).
my insurance is to hold onto my old fone in a drawer or something so if my new fone is lost/stolen/broken i can just swap sims/sd-card and keep rolling until i order something to ship on black friday/cyber monday (instead of going to the store today and buying last years model at full price).
The best way to answer that question is to ask yourself as often as you need to, "What would I do if my phone breaks and I can't use it anymore?"
I have a repair shop near me that I trust and would use in that case. I can afford to pay $100 or $200 at any time to get my phone repaired, so I choose to go without insurance. I also have a spare phone in a drawer that I can press into service, if I need to.
If I lived hundreds of miles away from a repair facility and my only option was to send the phone away to get it fixed, I might consider insurance.
If I couldn't afford the $100 - $200 it would take to get my phone fixed, I might consider insurance.
If my phone was a couple of years old, I would choose to save up the money I'd spend on insurance and replace the phone with a newer model.
The only insurance I have ever purchased is AppleCare, but I have never had to have the iPhone repaired under the extended warranty. I usually buy this insurance because I always buy the phone up front. https://www.apple.com/support/products/iphone.html
I think the whole concept of insurance has gotten silly. To me, you insure something that would be difficult for you to replace without insurance -- your house, your car. I don't insure my television or stereo equipment, and with the money I have saved from not insuring them, when one does break down, I can easily afford to replace them. In a sense, I "self-insure". Not only that, but usually when I have had electronics equipment break down, I was already past the point when what I really wanted was newer, more modern equipment.
If you intend to not have a phone case and screen guard then you should get insurance. A $20 case and screen shield is a lot cheaper than a $12/month plan.
I think the whole concept of insurance has gotten silly. To me, you insure something that would be difficult for you to replace without insurance -- your house, your car. I don't insure my television or stereo equipment, and with the money I have saved from not insuring them, when one does break down, I can easily afford to replace them. In a sense, I "self-insure". Not only that, but usually when I have had electronics equipment break down, I was already past the point when what I really wanted was newer, more modern equipment.
Correct!
Remember that the company that sells you insurance makes a profit on doing so. That means that adding up all the people who pay for insurance, they will pay out less than is paid in. You will probably be among that number.
So you only buy insurance to guard against situations where not having it would seriously adversely affect your finances. $100,000 personal liability claim as the result of a car accident? Problem. Carry automotive liability insurance. House burns down, cost to rebuild $400,000. Problem. Carry homeowner's insurance. Heart attack or cancer, medical bills potentially in the millions of dollars? Problem. Carry health insurance. $400 phone, or $500 dishwasher, goes out? Not threatening to your long term financial well being. Don't carry insurance on these items.
If your finances are so tenuous that replacing a cell phone will tip you over the edge, you don't need to own a cell phone. Or buy a burner pre-paid from the convenience store and use it only for emergency situations.
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