02-18-09 08:42 AM
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  1. KINetics's Avatar
    Insurance isn't even handled by Verizon. It's subcontracted out to Asurion. Asurion handles insurance for all the major carriers, T-Mobile, Sprint, AT&T, etc.

    The deductible is pretty much across the board no matter who you're with.

    Plus you're comparing apples to oranges. Sprint (Asurion) offers two levels of protection, the standard "Equipment Service and Repair program" for $4/month, no deductible which only covers the phone in case of a hardware malfunction. It does not cover lost phones or broken phones caused by the user (e.g., dropping the phone, running it over, etc.).

    Sprint (Asurion) also offers the "Total Equipment Protection" plan that does cover lost/stolen/broken phones for $7/month + $50 deductible.

    As you can see, if you compare the Total Equipment Protection plans, they're actually quite similar.
    Last edited by KINetics; 02-02-09 at 11:25 AM.
    02-02-09 11:15 AM
  2. TwinsX2Dad's Avatar
    This thread got me to thinking. So this morning, I called my friendly insurance agent (she is a personal friend AND my agent) and asked her what would my coverage be for a lost, broken or soaked Berry. She told me that my homeowner's insurance policy covered it without deductible if I wasn't traveling. If I was traveling, then my vehicle or traveler's insurance covered it. All are included benefits with no additional premium costs.

    She said that it would cover an equivalent device for replacement. An extra is that my coverage, since I also opt for data recovery insurance, would cover data & software losses on my laptop or PDA or smartphone.

    So the big thing is, READ your policies before buying phone insurance. You may end up paying more money for less coverage than you already have. An alternative, if your insurance doesn't cover it would be to ask your agent how to add it.

    My data recovery insurance is less than $20/yr and has no deductible. I'd bet your insurance company will cover you for much less than the products the carriers offer.

    Posted from my CrackBerry at wapforums.crackberry.com
    02-02-09 11:51 AM
  3. pjdell's Avatar
    This thread got me to thinking. So this morning, I called my friendly insurance agent (she is a personal friend AND my agent) and asked her what would my coverage be for a lost, broken or soaked Berry. She told me that my homeowner's insurance policy covered it without deductible if I wasn't traveling. If I was traveling, then my vehicle or traveler's insurance covered it. All are included benefits with no additional premium costs.

    She said that it would cover an equivalent device for replacement. An extra is that my coverage, since I also opt for data recovery insurance, would cover data & software losses on my laptop or PDA or smartphone.

    So the big thing is, READ your policies before buying phone insurance. You may end up paying more money for less coverage than you already have. An alternative, if your insurance doesn't cover it would be to ask your agent how to add it.

    My data recovery insurance is less than $20/yr and has no deductible. I'd bet your insurance company will cover you for much less than the products the carriers offer.

    Posted from my CrackBerry at wapforums.crackberry.com
    Wow i had never even thought of that... my car insurance could possibly cover it but i'm not sure i'm going to check though.

    I want to know how people keep there phones in such good condition? Its only a matter of time before i accidentally drop mine while handing it to someone or picking it up... its not even that i am really clumsy i don't think... well maybe... but i just seem to sometimes miss where i was trying to go, or i grab it wrong, or something stupid like that.
    Last edited by pjdell; 02-02-09 at 12:06 PM.
    02-02-09 12:03 PM
  4. mab4285's Avatar
    Well, some of us don't have homeowners insurance or traveler's insurance. I have cheap auto insurance so that wouldn't cover it either.

    Like I say about everything....To each his/her own. Different Strokes for Different Folks people.

    I personally like having the added stability and assurance of having the insurance plan on my BB.

    Also, are you SURE that an insurance company would replace something that was lost? Would it also replace a laptop that was lost with the price difference? I've been hoodwinked by insurance agents before (yes, the auto and homeowners [through my parents]) before.
    02-02-09 12:09 PM
  5. weathering_the_storm's Avatar
    None of the carriers' insurance is worth anything, nor do they make financial sense.

    Posted from my CrackBerry at wapforums.crackberry.com
    Could not have said ity better myself!!
    02-02-09 12:11 PM
  6. mrsFAB's Avatar
    Verizon's insurance is great. You never know when you will need it. Ans at least the deductable is only $50. A few other carriers charge the deductable by what kind of phone you have. Now that sucks!
    02-02-09 12:16 PM
  7. VikingBerry's Avatar
    It is really not that hard to take care of a phone. The only time that I have had to take in a phone was because I kept it so long that the screen started going out.

    Posted from my CrackBerry at wapforums.crackberry.com
    02-02-09 12:36 PM
  8. TwinsX2Dad's Avatar
    It is really not that hard to take care of a phone. The only time that I have had to take in a phone was because I kept it so long that the screen started going out.
    That's been my experience, too. I've broken one phone in my life & its replacement was covered under NE2 anyway.

    In over 20 years of carrying mobile phones, I'd say this isn't bad.

    As far as my insurance covering the cost, yes it does. I pay a bit extra for full replacement costs instead of depreciated costs because depreciation on things like laptops & cellphones is astronomical. I have filed claims on laptops before for theft, loss and breakage. Never have had any trouble. I call my company & they take of it.

    These folks already insure me. What's an extra item for them to cover?

    Posted from my CrackBerry at wapforums.crackberry.com
    02-02-09 05:00 PM
  9. TwinsX2Dad's Avatar
    One other thing - while I do agree with the OP's premise that VZW's insurance is a ripoff, it is less of a ripoff than what the other carriers offer.

    Posted from my CrackBerry at wapforums.crackberry.com
    02-02-09 05:04 PM
  10. TeamStutts's Avatar
    insurance is offered as a courtesy. it does not have to be offered, and you do not have to accept it. all the information concerning the insurance is given to you every time you purchase a phone. and it is thru a 3rd party company, and therefore not charged by verizon. and i personallky think that 2 rplcmnts is a pretty good amount. that's 3 phones in a year! if you don't want insurance, you are welcome to shop ebay for a replacement. or you can pay full retail. i personally like having my insurance and think that it's a great service to only have to pay 50.00 for a new blackberry if i break it or drop it in water. sometimes it's better to look at the good part of life...
    02-02-09 06:04 PM
  11. taddley's Avatar
    Before I get into this ...

    Questions for TwinsX:

    If you drop your BB in the toilet, how quickly will you get a replacement from your Homeowners insurance?

    And, after you get your Reservation of Rights Letter from the carrier, how will you prove your claim?

    And, your agent - who said that it is covered - did they also tell you that you need to meet your deductible on the policy? Or did you pay extra for a no deductible rider covering your phone? And how much?

    And, what state are living in? Is the standard insurance coverage in your state the same as the standard coverage filed in the OP's state?
    02-02-09 08:02 PM
  12. mab4285's Avatar
    Before I get into this ...

    Questions for TwinsX:

    If you drop your BB in the toilet, how quickly will you get a replacement from your Homeowners insurance?

    And, after you get your Reservation of Rights Letter from the carrier, how will you prove your claim?

    And, your agent - who said that it is covered - did they also tell you that you need to meet your deductible on the policy? Or did you pay extra for a no deductible rider covering your phone? And how much?

    And, what state are living in? Is the standard insurance coverage in your state the same as the standard coverage filed in the OP's state?
    Good questions taddley.
    02-02-09 08:09 PM
  13. taddley's Avatar
    So do you think it is justified to say that i "lost" my phone when i actually broke it so that i can keep all the accessories? Seems like such a ripoff that i have to pay them to get just the phone without any accessories for a broken phone
    Ok. So while we wait on some answers ...

    PJ ...

    No. It's called fraud. it's not justifiable. Period.
    02-02-09 09:51 PM
  14. TwinsX2Dad's Avatar
    I am in Arizona/California.

    No deductible applies to this part of my coverage.

    I lose it, break it, damage (full coverage for damage/loss/theft) and I call my insurance carrier & get a claim number. I then order the replacement & get reimbursed.

    There is nothing to it. Even renters insurance may cover it. My point is that many people are buying something they don't need. I know my coverage & know I don't have to buy LDI when I rent a car because my current insurance covers it.

    Even some of my credit cards offer me some protection against loss.

    All of the major consumer watchdogs, from Consumer Reports to Clark Howard to David Horowitz say cell phone insurance is a waste of money and that if you feel you need such a thing, there are better options, including those you may already have.

    Posted from my CrackBerry at wapforums.crackberry.com
    02-03-09 09:08 AM
  15. DPDCrackBerry's Avatar
    You pay a premium for you CAR insurance or Homeowners insurance. If you wreck your car you stil have to pay a deductable unless you pay some astronomical premium!!!!

    It's more of a deterent for you not to break or lose you ****!
    02-03-09 09:11 AM
  16. TwinsX2Dad's Avatar
    I run $250 deductible for collision & $0 for comp.

    There really isn't a big difference in premiums for reducing deductibles, depending on the portion you're working with. The cost/benefit difference is somewhat of a balancing act.

    I should mention that I use an umbrella plan, both on the business & personal policies. Its a lot cheaper when dealing with the number of vehicles & assets I need coverage for. On my personal plan, I am covering 7 cars/trucks, 2 motorcycles, a motorhome, a boat & several off-road toys along with the house.

    Still, similar benefits can be found with nearly anything. My brother (a certifiable klutz) was paying for cell phone insurance until his agent told him he was already covered.

    Posted from my CrackBerry at wapforums.crackberry.com
    02-03-09 09:39 AM
  17. mab4285's Avatar
    I'll say it again. Differnt strokes for different folks. If you feel you don't need the insurance on your phone since it's covered under something else, cool.

    If you feel that you want the insurance on your phone through VZW/Asurion, cool.

    If you don't want anything on your cell phone and don't think that your other insurance covers it, that's cool too.

    I personally enjoy the safety and peace of mind I have having the insurance on my phone through Verizon/Asurion. It gives me the peace of mind I need.

    If having other insurance or no insurance gives you peace of mind, that's cool too.
    02-03-09 10:59 AM
  18. RicanMedic78's Avatar
    I'll say it again. Differnt strokes for different folks. If you feel you don't need the insurance on your phone since it's covered under something else, cool.

    If you feel that you want the insurance on your phone through VZW/Asurion, cool.

    If you don't want anything on your cell phone and don't think that your other insurance covers it, that's cool too.

    I personally enjoy the safety and peace of mind I have having the insurance on my phone through Verizon/Asurion. It gives me the peace of mind I need.

    If having other insurance or no insurance gives you peace of mind, that's cool too.
    see now... how can anyone ever debate that response?
    02-03-09 12:56 PM
  19. taddley's Avatar
    I lose it, break it, damage (full coverage for damage/loss/theft) and I call my insurance carrier & get a claim number. I then order the replacement & get reimbursed.

    There is nothing to it. My point is that many people are buying something they don't need.

    All of the major consumer watchdogs, from Consumer Reports to Clark Howard to David Horowitz say cell phone insurance is a waste of money and that if you feel you need such a thing, there are better options, including those you may already have.
    TwinsX:

    Thanks for the response. Without getting into Insurance 101 - one thing should be stated ... I trust you'll agree that insurance is a financing vehicle. One pays small incremental amounts to fund future (and larger) losses, including time. In this case $60 ($5 X 12) and a $50 deductible.

    My problem with some of your comments on this thread is the contention that Asurion is a "rip-off" and a "waste", Horowitz and Consumer Reports, notwithstanding.

    When you order your replacement, you have to pay for it - somewhere between $300 and $500+ for a Bold. Assuming your carrier does not dispute the claim, you then get reimbursed - you say full replacement cost - I'll agree to stipulate that ... but, can still be debated. Debate aside, however, is your carrier going to "replace" the amount you paid for the phone originally or the amount you paid for the replacement? In my case, I paid $300 for my Bold. I'll bet you an RC Cola that your ins. carrier is going to send you a check for $300 "replacement cost". I/you will be out $200.

    You say your point is that "many" people are buying something they don't need. Agreed. But, "many" does not equal "all". Therefore, based on your comment, you appear to agree that "some" people may need it.

    You've also said that reducing a deductible "isn't a big difference". Ok. But, that's relative. Is $25 a big diff? Or $45? How about $60?

    In Texas, the standard homeowner's insurance form will "cover" my mobile phone loss. It's a covered claim. But, in my case, I use a 1% deductible, because the buy-down is a big diff. So, effectively, I have no coverage for a $500 item (and that's the way I want it, incidentally).

    So, for "some" people, who cannot afford or don't want a $300 to $500 one time hit, financing that "shock loss" at $5 monthly increments and a $50 deductible makes a heck of a lot of sense. Additionally, Asurion sends the replacement within 24 hours - that's a time value, as well.

    Somewhere, some how, your spending at least $25 to $40 for your phone coverage. So you and OP are calling Asurion a rip-off for making $35 to $25 for providing their service ... that's 9.6 cents per day on the top end.

    Care to revise?
    02-03-09 05:03 PM
  20. katmac1567's Avatar
    at the end of ur contract, if nothing happens to ur phone, u will have paid for the phone twice with the amount u have to pay in insurance so its not even close to worth it. Then if something does happen and u need a replacement, then u have to pay $50??? That is crazy! In an age where a VIP can wait a year, get a phone at a 2 year rate (most of the time with the phone costing less than $100 bucks), and then get $50 off that same phone, $100 off every 2 years, that insurance deductable is a little outdated if u ask me!
    If you don't have insurance and you have to replace your phone (blackberry) you're not going to get it for the original contract price. I tried to buy a new blackberry without a contract and it was $400-$500 easily.
    02-03-09 07:37 PM
  21. mab4285's Avatar
    TwinsX:

    Thanks for the response. Without getting into Insurance 101 - one thing should be stated ... I trust you'll agree that insurance is a financing vehicle. One pays small incremental amounts to fund future (and larger) losses, including time. In this case $60 ($5 X 12) and a $50 deductible.

    My problem with some of your comments on this thread is the contention that Asurion is a "rip-off" and a "waste", Horowitz and Consumer Reports, notwithstanding.

    When you order your replacement, you have to pay for it - somewhere between $300 and $500+ for a Bold. Assuming your carrier does not dispute the claim, you then get reimbursed - you say full replacement cost - I'll agree to stipulate that ... but, can still be debated. Debate aside, however, is your carrier going to "replace" the amount you paid for the phone originally or the amount you paid for the replacement? In my case, I paid $300 for my Bold. I'll bet you an RC Cola that your ins. carrier is going to send you a check for $300 "replacement cost". I/you will be out $200.

    You say your point is that "many" people are buying something they don't need. Agreed. But, "many" does not equal "all". Therefore, based on your comment, you appear to agree that "some" people may need it.

    You've also said that reducing a deductible "isn't a big difference". Ok. But, that's relative. Is $25 a big diff? Or $45? How about $60?

    In Texas, the standard homeowner's insurance form will "cover" my mobile phone loss. It's a covered claim. But, in my case, I use a 1% deductible, because the buy-down is a big diff. So, effectively, I have no coverage for a $500 item (and that's the way I want it, incidentally).

    So, for "some" people, who cannot afford or don't want a $300 to $500 one time hit, financing that "shock loss" at $5 monthly increments and a $50 deductible makes a heck of a lot of sense. Additionally, Asurion sends the replacement within 24 hours - that's a time value, as well.

    Somewhere, some how, your spending at least $25 to $40 for your phone coverage. So you and OP are calling Asurion a rip-off for making $35 to $25 for providing their service ... that's 9.6 cents per day on the top end.

    Care to revise?
    You Go Glen CoCo, you go!
    02-03-09 07:47 PM
  22. redsoxrocker's Avatar
    You Go Glen CoCo, you go!
    haha great line!
    02-03-09 08:12 PM
  23. Kaylajoy21's Avatar
    No offense, but the insurance company really could care less if you BREAK your phone or you lose it. Either way, you have to pay the deductible and can do only 2/yr.

    And the insurance is not a rip-off. For the tons of people who break their phone, they need that insurance.

    And sorry but its just like car insurance. You pay the rates and you may have to pay something at the time of accident for a certain part of the repairs.

    And I've had a cell phone for 6 years...I've never had one broken or lost. I've been hard on them, but honestly...people...its still an electronic. You do need to be careful with them.

    Yes, accidents happen. But thats why you would carry the insurance.
    02-03-09 09:04 PM
  24. TwinsX2Dad's Avatar
    TwinsX:

    Thanks for the response.
    No problem. Its why I come here - to learn, to help and to get people to thinking.

    If any of this is read as me writing it in a condescending tone, please forgive me - it is not my intention. I don't flower things well in print.

    Without getting into Insurance 101 - one thing should be stated ... I trust you'll agree that insurance is a financing vehicle. One pays small incremental amounts to fund future (and larger) losses, including time. In this case $60 ($5 X 12) and a $50 deductible.
    Yes, you're correct - it is a vehicle for financing away risk, or at least sharing the risk. However, companies are in existence to make a profit. In the case of insurance, the more a company insures of yours, the lower they can charge you while still making a profit, partly because of lower risk and partly because of shared administrative costs. This makes perfect sense.

    In my case, I have all of the vehicles listed, but I am the only licensed driver in the house. I can't possibly wreck two cars at once, unless I plow one into another in the driveway. Because of this, the liability should be less, and even the comprehensive portion should be lower. Only one vehicle is typically in use and away from the secured confines of home at a time, so I shouldn't have to pay as if all the vehicles are out on the road.

    The same thing applies with things other than vehicles. If I insure a house, cars, possessions, etc., with one company, the overall rate is less than if I insured Car 1 with Company 1 & Car 2 With Company Q, etc.

    It also helps to have good credit - those with good credit tend to be more responsible and less likely to commit acts of fraud, including insurance fraud. I know of people who wanted a new windshield when their chipped, so they took a hammer to it. I also know of people who purposely broke a cell phone because they scratched the back & wanted a new one. Or a different color even.

    True story - neighbor's daughter wanted a pink Pearl when they came out, but had the original color. She backed over it with the car. When her dad found out the true story, she lost her phone, but not before insurance sent her a new one.

    My problem with some of your comments on this thread is the contention that Asurion is a "rip-off" and a "waste", Horowitz and Consumer Reports, notwithstanding.

    When you order your replacement, you have to pay for it - somewhere between $300 and $500+ for a Bold. Assuming your carrier does not dispute the claim, you then get reimbursed - you say full replacement cost - I'll agree to stipulate that ... but, can still be debated. Debate aside, however, is your carrier going to "replace" the amount you paid for the phone originally or the amount you paid for the replacement? In my case, I paid $300 for my Bold. I'll bet you an RC Cola that your ins. carrier is going to send you a check for $300 "replacement cost". I/you will be out $200.
    There are things that you generally get a depreciated amount for with insurance. There are other items that fall under full replacement. My new cars have full replacement coverage for the first two years. After that, they are depreciated. This is coverage I pay extra for, because the minute you take possession of that $50,000 car, it is worth $38,600.

    In the case of the electronics goodies, I get full replacement for three years after they are purchased. Any subsidies or sale prices are not considered. If I buy an item and two years from now, it is destroyed in a fire, I get the same model or equivalent new one, regardless of the cost. After that, the item does get depreciated.

    So, if I get a new BB under NE2 with rebates and it costs me nothing, then lose it 6 months later, the NE2 is no longer in effect and the rebates trailed off to nothing - now the replacement BB costs $500 less a $50 mail in rebate. I turn in the claim and get reimbursed for the $450, plus shipping (if needed) plus tax.

    You say your point is that "many" people are buying something they don't need. Agreed. But, "many" does not equal "all". Therefore, based on your comment, you appear to agree that "some" people may need it.
    Some yes - those with poor credit, few possessions and/or fumble-fingers, might be able to benefit from it. I don't mean to say that only those kinds of people buy the insurance, as much of the sales tactics for cell-phone insurance sounds pretty good - but like the LDI when you rent a car, you buy it without even knowing if you need it.

    You've also said that reducing a deductible "isn't a big difference". Ok. But, that's relative. Is $25 a big diff? Or $45? How about $60?
    The difference in deductible is in reference to a previous poster saying the cost was huge, or something along those lines. I don't pay extra for no-deductible on my phone - I pay extra for no deductible on the lower dollar items - pretty much anything under $5000 or so. The phones fall under this, and the crazy thing is, it costs me only about $60/year extra for the zero deductible on these items. When you consider that that is no deductible on all of my "personal use" items

    In Texas, the standard homeowner's insurance form will "cover" my mobile phone loss. It's a covered claim. But, in my case, I use a 1% deductible, because the buy-down is a big diff. So, effectively, I have no coverage for a $500 item (and that's the way I want it, incidentally).
    You can add levels of coverage for suprisingly little - or reconfigure your coverage to include it. There is no line item listing on my policy for "cell phone." My basic coverage would still include it, but I opt for higher levels of coverage, since I am known to carry around high-dollar "personal use" items. In my truck right now, sitting in my garage, are two laptop computers, a GPS receiver, a satellite telephone, and two firearms. Between the laptops & the guns, we're talking about an amount in the neighborhood of $15,000. Toss in the phone & receiver, and we're looking at even more. So yes, I have extras added to cover what I carry - but still, the basic coverage is what catches my little stuff.

    As my insurance agent said, a PDA is covered under 'personal computers' and as such, fully covered under personal use items.

    That basic personal use rider, minus the higher dollar items, as I mentioned above, is $60/year. Let's do a little math on the subject. I lose a laptop and a BlackBerry in one year. I paid $60 for some piece of mind and some coverage. Even if my deductible was $50 per event, I would've paid $160. Now lets say you have VZW insurance (or whomever, as the VZW insurance is by far the best cell carrier insurance), you'd pay $6/mo for 12 months out of the year for $72. Now you lose a phone and you're out another $50. You get a used or refurbished phone (read the Asurion policy, folks), while I get a new one. You're out $122 and still don't have your laptop, your watch, your guns, your jewelry covered. BUT I didn't pay a deductible, so I paid $60, or less than half what you paid.

    Now if you're with a company for renter's insurance, some of these options may not be available - some of the online carriers may have a cap or a deductible, but most of the mainline companies will offer similar coverages. By mainline, I am not referring to Geico or Progressive or whatnot. I am talking about American Family, Liberty Mutual, State Farm, Mass Mutual, etc.

    There is no "standard" homeowner's insurance, unless you're talking about some sort of subsidized socialist model of insurance (Medicare, anyone?). Policies vary widely from company to company and even within the same company.

    So, for "some" people, who cannot afford or don't want a $300 to $500 one time hit, financing that "shock loss" at $5 monthly increments and a $50 deductible makes a heck of a lot of sense. Additionally, Asurion sends the replacement within 24 hours - that's a time value, as well.
    They send it within 24 hours, IF they have it in stock. If they don't, you get to wait or take a lesser phone. The wait time can be for as long as 8 weeks.

    Somewhere, some how, your spending at least $25 to $40 for your phone coverage. So you and OP are calling Asurion a rip-off for making $35 to $25 for providing their service ... that's 9.6 cents per day on the top end.
    If I was, that would still be better than the $72 you get soaked for cell phone insurance. Asurion is making a living while paying the VZW's & the Sprint's of the world as much as 60% commission. I wonder what kind of real insurance you'd get if it were added on top of an existing plan you already pay for?

    Care to revise?
    No, not really.

    Check these out, with emphasis mine.

    Asurion may fulfill claims with new or refurbished equipment. In general, claims are fulfilled with the same make and model you claim. If this is not possible, a like-kind make and model will be substituted. Color, feature and accessory compatibility are not guaranteed.
    Now, look at the Asurion promise:

    2. Our Options
    At our option, we or Asurion Insurance Services, Inc., may provide
    substitute equipment or repair the Covered Property with substitute
    parts, of like kind, quality and functionality, that:
    a. Have been refurbished, and may contain non-original
    manufacturer parts; or
    b. Are a different brand, model or color.

    Look under the terms & conditions section starting on page 9 of the Asurion literature: http://www.phoneclaim.com/doc_list/d...6_ALL_brochure

    AT&T details are found at: Get Started - | Wireless from AT&T, formerly Cingular

    Notice they are a bigger ripoff than VZW.

    Something else - buy an extended warranty for my new truck at the time of purchase through the dealer? $2999. I can buy the same extended warranty through the same company on my own for about $1000. This is very typical of the 'sideline' insurance providers. I don't buy extended warranties for my vehicles and if I did, it certainly wouldn't be at the dealership.

    As I said before - if you want to toss money away for cell phone insurance, that is your decision. All I am saying is that there are better options that are a lot cheaper.

    If you're poor or have bad credit, you may have fewer options - then again, if you're poor or have bad credit, maybe its because you've not been making sound financial decisions & tossing money away on cell phone insurance. Of course, the way I look at it, if you're poor or have bad credit, you don't have any business carrying a BlackBerry.
    02-03-09 09:39 PM
  25. mab4285's Avatar
    No problem. Its why I come here - to learn, to help and to get people to thinking.

    If any of this is read as me writing it in a condescending tone, please forgive me - it is not my intention. I don't flower things well in print.

    Yes, you're correct - it is a vehicle for financing away risk, or at least sharing the risk. However, companies are in existence to make a profit. In the case of insurance, the more a company insures of yours, the lower they can charge you while still making a profit, partly because of lower risk and partly because of shared administrative costs. This makes perfect sense.

    In my case, I have all of the vehicles listed, but I am the only licensed driver in the house. I can't possibly wreck two cars at once, unless I plow one into another in the driveway. Because of this, the liability should be less, and even the comprehensive portion should be lower. Only one vehicle is typically in use and away from the secured confines of home at a time, so I shouldn't have to pay as if all the vehicles are out on the road.

    The same thing applies with things other than vehicles. If I insure a house, cars, possessions, etc., with one company, the overall rate is less than if I insured Car 1 with Company 1 & Car 2 With Company Q, etc.

    It also helps to have good credit - those with good credit tend to be more responsible and less likely to commit acts of fraud, including insurance fraud. I know of people who wanted a new windshield when their chipped, so they took a hammer to it. I also know of people who purposely broke a cell phone because they scratched the back & wanted a new one. Or a different color even.

    True story - neighbor's daughter wanted a pink Pearl when they came out, but had the original color. She backed over it with the car. When her dad found out the true story, she lost her phone, but not before insurance sent her a new one.

    There are things that you generally get a depreciated amount for with insurance. There are other items that fall under full replacement. My new cars have full replacement coverage for the first two years. After that, they are depreciated. This is coverage I pay extra for, because the minute you take possession of that $50,000 car, it is worth $38,600.

    In the case of the electronics goodies, I get full replacement for three years after they are purchased. Any subsidies or sale prices are not considered. If I buy an item and two years from now, it is destroyed in a fire, I get the same model or equivalent new one, regardless of the cost. After that, the item does get depreciated.

    So, if I get a new BB under NE2 with rebates and it costs me nothing, then lose it 6 months later, the NE2 is no longer in effect and the rebates trailed off to nothing - now the replacement BB costs $500 less a $50 mail in rebate. I turn in the claim and get reimbursed for the $450, plus shipping (if needed) plus tax.

    Some yes - those with poor credit, few possessions and/or fumble-fingers, might be able to benefit from it. I don't mean to say that only those kinds of people buy the insurance, as much of the sales tactics for cell-phone insurance sounds pretty good - but like the LDI when you rent a car, you buy it without even knowing if you need it.

    The difference in deductible is in reference to a previous poster saying the cost was huge, or something along those lines. I don't pay extra for no-deductible on my phone - I pay extra for no deductible on the lower dollar items - pretty much anything under $5000 or so. The phones fall under this, and the crazy thing is, it costs me only about $60/year extra for the zero deductible on these items. When you consider that that is no deductible on all of my "personal use" items

    You can add levels of coverage for suprisingly little - or reconfigure your coverage to include it. There is no line item listing on my policy for "cell phone." My basic coverage would still include it, but I opt for higher levels of coverage, since I am known to carry around high-dollar "personal use" items. In my truck right now, sitting in my garage, are two laptop computers, a GPS receiver, a satellite telephone, and two firearms. Between the laptops & the guns, we're talking about an amount in the neighborhood of $15,000. Toss in the phone & receiver, and we're looking at even more. So yes, I have extras added to cover what I carry - but still, the basic coverage is what catches my little stuff.

    As my insurance agent said, a PDA is covered under 'personal computers' and as such, fully covered under personal use items.

    That basic personal use rider, minus the higher dollar items, as I mentioned above, is $60/year. Let's do a little math on the subject. I lose a laptop and a BlackBerry in one year. I paid $60 for some piece of mind and some coverage. Even if my deductible was $50 per event, I would've paid $160. Now lets say you have VZW insurance (or whomever, as the VZW insurance is by far the best cell carrier insurance), you'd pay $6/mo for 12 months out of the year for $72. Now you lose a phone and you're out another $50. You get a used or refurbished phone (read the Asurion policy, folks), while I get a new one. You're out $122 and still don't have your laptop, your watch, your guns, your jewelry covered. BUT I didn't pay a deductible, so I paid $60, or less than half what you paid.

    Now if you're with a company for renter's insurance, some of these options may not be available - some of the online carriers may have a cap or a deductible, but most of the mainline companies will offer similar coverages. By mainline, I am not referring to Geico or Progressive or whatnot. I am talking about American Family, Liberty Mutual, State Farm, Mass Mutual, etc.

    There is no "standard" homeowner's insurance, unless you're talking about some sort of subsidized socialist model of insurance (Medicare, anyone?). Policies vary widely from company to company and even within the same company.

    They send it within 24 hours, IF they have it in stock. If they don't, you get to wait or take a lesser phone. The wait time can be for as long as 8 weeks.

    If I was, that would still be better than the $72 you get soaked for cell phone insurance. Asurion is making a living while paying the VZW's & the Sprint's of the world as much as 60% commission. I wonder what kind of real insurance you'd get if it were added on top of an existing plan you already pay for?

    No, not really.

    Check these out, with emphasis mine.



    Now, look at the Asurion promise:

    2. Our Options
    At our option, we or Asurion Insurance Services, Inc., may provide
    substitute equipment or repair the Covered Property with substitute
    parts, of like kind, quality and functionality, that:
    a. Have been refurbished, and may contain non-original
    manufacturer parts; or
    b. Are a different brand, model or color.

    Look under the terms & conditions section starting on page 9 of the Asurion literature: http://www.phoneclaim.com/doc_list/d...6_ALL_brochure

    AT&T details are found at: Get Started - | Wireless from AT&T, formerly Cingular

    Notice they are a bigger ripoff than VZW.

    Something else - buy an extended warranty for my new truck at the time of purchase through the dealer? $2999. I can buy the same extended warranty through the same company on my own for about $1000. This is very typical of the 'sideline' insurance providers. I don't buy extended warranties for my vehicles and if I did, it certainly wouldn't be at the dealership.

    As I said before - if you want to toss money away for cell phone insurance, that is your decision. All I am saying is that there are better options that are a lot cheaper.

    If you're poor or have bad credit, you may have fewer options - then again, if you're poor or have bad credit, maybe its because you've not been making sound financial decisions & tossing money away on cell phone insurance. Of course, the way I look at it, if you're poor or have bad credit, you don't have any business carrying a BlackBerry.
    Twins, you're not convincing anyone really. You come off sounding kinda pompous and snobbish, especially with telling about all the vehicles you have, and demeaning people who are "poor" or don't have a lot of stuff.

    I have insurance on my phone because I only have car insurance. My job provides me with an apartment and renters insurance, I make a pretty good living for myself, and I have excellent credit. I also research things extensively and feel I make very informed decisions.

    Anyone is allowed and should to have a blackberry if they can afford it and want it.
    02-03-09 10:24 PM
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