Seems like a hefty charge when coupled with the $89 deductable. I have another 3 weeks to decide but want some input. I took my previous phone for a swim (which it survived) but generally am responsible. What do you think?
GS
GS
If you can, get it through your homeowners insurance. It costs me about $12 a year to insure a $600 phone. There is no deductible, it covers theft, breakage, water damage, just about thing you can think of. And since it's covered under a rider on your policy, if you make a claim, it does not affect your premium.
T
Homeowners does not, however, extend the warranty beyond 1 year, which the VZW total coverage package ($7.99 per month) does. Therefore, if there is a problem with the phone's operation, your homeowners will not cover it.
Just to be clear, if you want to use your homeowners/renters policy to insure your phone be sure you have it on a rider or schedule. If it is not on a rider/schedule the claim will be subject to your deductible which is usually $250 or $500.
Also, homeowners policies are meant to replace your house if it burns and to provide liability coverage for your personal protection. With that in mind talk to your agent about what might happen to your premium if you turn in a $600 claim. That's small potatoes but not exactly what the policy is designed to do. If your rates would increase $250 a year for 3 years there not much point in even adding it to your policy in the first place. There are premium penalties for turning in large claims as well as for claims frequency. If you've never used your policy before $600 might not effect your rates at all. If you had storm damage last year and the policy paid $1,000 another $600 claim might trigger an increase.
Disclosure: I'm an IT manager in the insurance industry - i.e. I know just enough about insurance to be dangerous and a lot more about IT.
Exactly. Or say it accidentally fell in a bucket of water.Were there a problem with the phone's operation that, say, accidentally resulted in the phone being bounced off the nearest concrete surface, though, homeowner's would kick in
Oh and unless it has changed, with asurion you are only allowed one claim on that phone? Someone has to verify, I'm not totally sure.
Question: would the replacement phone be new via VZW/Asurion or a refurb?
I've got insurance on my X, but when I had to replace my daughter's EnvTouch (no insurance), I was able to buy a refurb for $200.
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