insurance?


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  1. futureprospect

    futureprospect Active Member This Topic's Starter

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    I almost dropped my phone the other day. So, i wanted to add insurance on the phone. But i'm past the 30 day mark that Sprint offered their insurance. Do you guys recommend an insurance plan?
     

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  2. antmon

    antmon Well-Known Member

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  3. EpicFan

    EpicFan Active Member

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    First, why would you buy your phone at a sprint store when at Best Buy you could have got it for $100 cheaper. Secondly never get insurance, get Best Buy's service plan, there is no deductible and they give you a brand new phone not a refurb! But unfortunately outside of 30 days your too late...Sorry
     
  4. nchargreed

    nchargreed Well-Known Member

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    Its my understanding that the BB coverage doesn't cover loss or theft. Lose your phone and you're SOL. :eek: Sprint replaces lost or stolen phones, albeit, with a refurb, but I've never had a problem with a refurb. The phone has its own warranty for the first year against defects so why pay $120 (first year) with BB to buy a warranty that you don't NEED? :confused:
     
  5. nchargreed

    nchargreed Well-Known Member

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    The whole 30 day thing is something new they've started. Hasn't always been that way and I think its crap!

    Sprint offers 3 levels of protection. Loss protection ($4). Defect protection ($3) and full protection ($7). Because of the manufacturer warranty, I shouldn't have to PAY for defect protection during the first year. I should be able to pay for the simple loss protection ($4) and have the option to add defect protection once the warranty runs out. But Sprint is requiring that you commit within the first 30 days of ownership meaning that I'm paying for double coverage against defects, unnecessarily. JUNK! :mad:
     
  6. daddyd302

    daddyd302 Well-Known Member

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    The insurance is not Sprint's. It's a third party that takes care of it, Sprint has nothing to do with it. I believe all the carriers have the same third party do it for all of them.
     
  7. futureprospect

    futureprospect Active Member This Topic's Starter

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    Hey thanks for being of absolute no help to me at all.


    Yeah, that's what I figured, and i wonder if i can just go direct to the third party. Or some other company.

    When i almost dropped it, I shat a brick! And its what...600 bucks to buy a new one?
     
  8. Seddy

    Seddy Well-Known Member

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    Im glad you didn't drop it. Even if you had TEP it'd cost you $100 to get it replaced with a refurbished... Or so I thought... :confused:

    I just read over the little pamplet and I have a question... I thought smart phones were $100 to replace thru TEP. I see nothing about that and I specifically remember my trainer going over that factor... I do see they added that 30 day window, its nice how they didn't even send out an email. :rolleyes: But I do know they have this thing called 'Open Enrollment' where they'll let you add TEP to your plan. When those dates are? I dont know, but when I find out, i'll post my findings.
     
  9. Aero1

    Aero1 Well-Known Member

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    Nope $265 real cost, relative to insurance, maximum. Actually less for reasons I illustrative below:

    1) Excellent rated sellers on ebay new in box, clean ESN completed sales this week are about $365. Clean esn used for a month (equivalent to refurb the insurance is likely to give you) are $325.

    2) Sprints loss or user caused damage a has a deductable of $100.

    replacement cost- deductible, $365-100=265. 225 of refurb. If you have paid three months insurance (and it is sales taxed) you should also subtract $25. (one year $subtract 90)

    If you drop your phone at one year and gt a refurb from sprint your benefit is going to be: $200 (likely price of excellent condition epic on ebay in a year) minus $100 deductible - $90 in fees or $10.

    Thy sell insurance on these phones because they make a profit. The odds are with them, not you.

    If you really feel like you expect to break your epic yourself in six months the best strategy is to sell the one you have now, and buy one on ebay since you can sprint insure the one you buy on ebay, even if it used.

    This post sounded so much like the lies Best Buy salespeople tell about their own plans(and prices) I had to double check the poster. sure enoguh:
    Lol ruining performance on a capacitive glass screen with a best buy high price zagg as well
     
  10. AndroidSPCS

    AndroidSPCS Well-Known Member

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    I agree with you on insurance, it's a lose-lose option.

    You pay a year of insurance = $84 out the door. Then add in $100 deduction = $184 that you'll NEVER get back.

    Cheaper to buy a second phone, like another Epic / Evo if you're adventurous, like me, or buy a Hero / Moment that cost around $120 - $150 for back up if you're cash strapped.

    If your phone never breaks, you can sell the spare Epic / Evo for $250 - $300 depending on the market, and if your Epic does break, you can sell it on eBay for $150-$250 as spare parts.

    You're still well ahead of the insurance scam where you've just wasted all that money for nothing.

    -With regards to screen protectors, if you get the right one, like Phantom Skinz, you'll notice little to no performance issues. Well worth it for me personally. That's cheap insurance that I don't mind paying.
     
  11. badankles

    badankles Well-Known Member

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    I read an article recently from an ex-best buy geek who recommends Square Trade over the best buy black tie deal. Check it out and see if they will insure it for you.
     
  12. EpicFan

    EpicFan Active Member

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    Here's the thing about BB's Black Tie Protection, they do not cover loss or theft but they do cover everything in between with no deductible. What most people do is soak their phone a year into their contract so that it cannot be repaired and BB give's you a brand new one...well you sell that brand new phone on ebay which will pay for your upgrade to a more up to date phone at that time...viola, insurance fraud at its best :)
     
  13. Aero1

    Aero1 Well-Known Member

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    How about you just stop. This fourm is not comprised of harried soccer moms who best buy employees can lie to and rip off for whatever spif BB is giving to their floor workers to promote these outrageous rip off plans like black tie or any best buy extended warranty.

    Do you understand that the fraud itself is one of the reasons why these plans are so overpriced and where only a rube would not understand the statistical averages are known, built in and on top of that, overheads, profits (and as you promote, fraud) are all costs added to side of the equation opposite the customer interests?

    There are reason why consumer reports adamantly recommend against best buys's plans, and there is no way you are going to convince anyone with an IQ over 90 to buy the best buy plan.

    When someone at Best buy tries to sell you one of these plans imagine you are at a casino and someone is trying to sell you a "plan" to beat the roulette wheel.

    If you believe you are at extreme risk, or say your 15 year old has an Epic, and you must get insurance, get the sprint insurance, it is less cost ineffective than BB.
     
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  14. Matty Mo

    Matty Mo Well-Known Member

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    I was told by the sprint rep when i bought my epic, that i could only add TEP to my account at that moment in time in which i was buying the phone... just my 2cents, who knows dude was probably lying to make a buck!
     
  15. AndroidSPCS

    AndroidSPCS Well-Known Member

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    You have 30 days from the time of activation of a new phone to your Sprint account.
     
  16. Aero1

    Aero1 Well-Known Member

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    of any phone, not just new.

    If I felt I really really wanted insurance, say I worked often out in the rain, or it was for a highschooler etc, and was past 30 days I would sell mine on ebay and buy a slightly used on ebay at the slight transaction cost of say $20 bucks. You can then fully insure with spirit the used phone you bought.
     
  17. princealyy

    princealyy Well-Known Member

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    Just try to go instore and add it, it might work, i have done it a few times before on my phones.

    We used to carry it on all our phones, but it added up to 84/ month, now we just add it to the phones of people who will break their phone, hedged risk the way i see it :)

    We run our phones in a warehouse, so YES we do break them...
     
  18. rastoma

    rastoma Member

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    If you are a homeowner, many homeowner insurance plans will cover your cell phone automatically. Not all, you need to check. Some plans require a 'rider', which is an addon to your home insurance, but typically cell phone riders are like $10-$20 a year. Covers damage, loss or theft with no deductible and doesn't affect your main insurance rate if you file a claim.
     
  19. dbpaddler

    dbpaddler Well-Known Member

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    there has to be refurbs in the system for that to happen. And as of a couple weeks ago, everyone seemed to be getting new ones (brand new sealed box and everything). The refurbs will hit the system soon, but I've never received a refurb from them. My buddy with Pixi's has not been so lucky. He's on #4 from them.
     
  20. AndroidSPCS

    AndroidSPCS Well-Known Member

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    I would avoid doing this.

    Home insurance claims and car insurance claims are logged in the CLUE database used by insurance companies, and your future premiums will go up, or even be denied altogether.

    Home insurance / car insurance is for catastrophic things, where you could not afford to pay for the repair / replacement. Cellphone add-on would not be that category, since you'll end up paying far more in future premiums than you'll be paid for the price of the phones.

    If you MUST have insurance, go with the Asurion insurance through the carriers. That way your claims are not tied to the CLUE database and you are not hurt financially.
     
  21. <=U=L=T=R=A=>

    <=U=L=T=R=A=> Well-Known Member

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    Lmao...I like that idea..he he he
     
  22. rastoma

    rastoma Member

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    There are rare, 'there's always more details to the story that we don't know of' stories that would scare someone. And if you're a scammer that uses insurance every year as mentioned above to get new phones then yes that could happen.

    For most people who are honest and uses insurance in the way it was intended, it will never happen. Especially if you have a rider. A rider is a separate insurance policy attached to the homeowner policy that will not affect the main rates. If you abuse the rider you just won't be able to renew it.

    I can find (and know many) as many or more people who's insurance rates do NOT go up after filing claims than you can find that do. I can find actual verifiable records where people have filed multiple claims in a 10 year period with just marginal increases that were across the board for all customers. I can prove a case where someone's house caught on fire and totaled. The owner's insurance rate did not go up. 5 years later, same owner had their new house blown away by a tornado. Same insurance company as the fire, no rate increase, full claim paid.

    I work with mortgage companies and insurance companies all the time.

    I used to buy the cell provider insurance rates and filed one claim in 7 years. I added up how much I had paid every month over the years and found it to be ridiculous. So the odds of me having to use insurance is very low so I have no fear getting a rider on a cell phone.

    But again, if you are one to abuse the system then yes I agree, don't do it.
     
  23. Aero1

    Aero1 Well-Known Member

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    Riders generally don't cover electro mechanical fault, (warranted or not), they can cause your rates to go up (insurance companies now keep extensive databases of all your claims and claims made on other insurers), your statefarm home insurance quote can now in fact be affected by an Allstate claim.

    Also home insurance is not the same processing time. With Sprint you get very quick turnaround.

    Again, with any insurance you are just buying a product where the statisticians have already put you on the losing side, and added in further costs to you like supporting all their overhead, their costs, their profit, fraud from other buyers etc. The exceptions for insurance are a) catastrophic loss, is you should insure against things that will cost you more than you make in a year, and b) where the insurer acts as a buyers consortium (eg with medical/health insurance negotiating prices).

    Some people here will be in high risk situations and should consider insuracne. If that is the case I think Sprint insurance makes the most sense. But the great majority of people insuring rapidly decreasing in replacement cost items like personal electornics, are just subsidizing frequent claimers, insurance company workers and stockholders, and in the case of the most idiotic people, workers and stockholders of places like Best Buy.
     
  24. RiverOfIce

    RiverOfIce Banned

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    My mother has broken/lost her evo 4 times in 4 months. You know what it would cost to replace a phone 4 times in 4 months. 299x 4= 1,200 bucks. You know what it really cost us? 28+100 bucks= 128 bucks. So I could be out another 1000 bucks. Or I could have gotten insurance.

    OR

    I can beleive my insurance agent, the person that covers my home and car. She say that if I file a claim my rates will go up about 10% per month, or 33 bucks a month.

    So I will decide to beleive my agent over you sorry, she has not lied to me yet.

    But if you think it is true, ask your agent. What happens if you file a claim. If they tell you that they do not know or tell you nothing, get it in writing and find another agent. It really depends on your credit rating and your coverage.

    But more then likely you rates will go up, but do ask your agent.
     
  25. AndroidSPCS

    AndroidSPCS Well-Known Member

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    Well of course, if you're going to be breaking your device all the time, of course you're going to be paying more, whether it's for insurance (relatively cheaper option) or full price of the phone.

    If she broke her Evo 4 times, wouldn't it be 28 + 100 + 100 + 100 + 100 = $428?

    And doesn't Asurion only allow 2 insurance claims per year? How did she get 4 replacements in 4 months?? :confused:
     

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