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Like you it is a long holiday weekend here and also Mrs J should be back from her travels this morning.
A while back I got myself an iPhone and I love it. It is so useful for work and leisure and the best bit is that I can Face Time my daughter- I love that.
I got an insurance package with the phone in order to bypass another upfront cost.
It is an expensive insurance package and I cancelled it after a month, as was my right.
The question is whether to get a new insurance cover specifically for the phone.
So my fellow peevers, the POTD is also a question, and it is;
How many things do you get covered by extra insurance?
I seldom buy any type of extra insurance. After working in the insurance field for 30 years, you know the statistics and know how much the insurance companies are raking in. I consider those kinds of things a racket. But don't let my comments sway anyone - each person's situation may be different. LOL
I think in a lot of cases insurance is overpriced and/or not necessary, as in the case of earthquake insurance in California. The policies are expensive and have extremely high deductibles, in the tens of thousands of dollars. The determining factor on whether to buy insurance should be whether you could afford to replace the item yourself if it were lost or stolen. It might be smarter just to take the insurance money you would have spent, put it in the bank and save up towards a new item.
Like you it is a long holiday weekend here and also Mrs J should be back from her travels this morning.
A while back I got myself an iPhone and I love it. It is so useful for work and leisure and the best bit is that I can Face Time my daughter- I love that.
I got an insurance package with the phone in order to bypass another upfront cost.
It is an expensive insurance package and I cancelled it after a month, as was my right.
The question is whether to get a new insurance cover specifically for the phone.
So my fellow peevers, the POTD is also a question, and it is;
How many things do you get covered by extra insurance?
Morning and this is definately one of my peeves. What they are really saying is you are buying crap so you don't get screwed completely put out another $$$$$ and you may be compensated. An I say may cuz there are so many loopholes in insurance.
Really really makes me sick.
sometimes I just take my chances and sometimes I don't.
Yep, generally extra insurance is a waste of money. Like Bay4 said save the $$ and stash it away in the bank.
And those stores that want you to buy a warranty, an extra add on cost, for your newly bought purchase, that's a money making racket for the retailer.
I don't buy into the extra insurance. New products usually have a long enough warranty if it turns out to be defective and like others have said, the additional insurance is more of a profit maker for retailers.
So my fellow peevers, the POTD is also a question, and it is;
How many things do you get covered by extra insurance?
Zero. IMO, most extended warranties are a waste of money. When retailers try to sell me insurance or an extended warranty on a product, I say, "So are you telling me that I'm purchasing a piece of junk that won't last even a year, the length of the manufacturer's warranty?" (Actually, I word it more nicely than that, but that's what I'm thinking.) I'll live with the odds that the item I'm buying won't crap out shortly after purchase.
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I never buy extra insurance, you can get extra insurance on anything these days, like a toaster
One time about 10 years ago, my sister purchased a $10 coffee mug warmer (it's electric; sits on your desk and is a little burner that keeps your beverage warm). At the checkout, the cashier asked her if she wanted to buy an extended warranty for $7.95. *LOL* We still talk about it to this day when the topic of extended warranties comes up.
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My posts as a Moderator will always be in red.
Be sure to review Terms of Service: TOS And check this out: FAQ
Moderator of Canada (and sub-fora), Illinois (and sub-fora), Indiana (and sub-fora), Caregiving, Community Chat, Fashion & Beauty, Hair Care, Games/Trivia, History, Nature, Non-romantic Relationships, Psychology, Travel, Work & Employment, Writing.
___________________________
~ Life's a gift. Don't waste it. ~
If things you buy last for the first 90 days you're home free, if not - take it back for a replacement or refund. Usually things are under the manufacture warranty for 90 days or a year. As for other insurance coverage, I have an umbrella policy that covers lots of extra things that are not covered in the regular homeowner policy.
On the last laptop I bought at Costco, they automatically cover things for two years without an extra charge (unlike BestBuy). Then they also add a 3rd year warranty if purchased with American Express. Well the laptop started having some issues with the screen and American Express covered the whole thing. They were easy to deal with and I was very pleased with how it was taken care of. I'm buying more things with the American Express card just to have that extra free coverage!
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