Insurance price up -- deductible down?

[agent0064life]

So I got a message from Metro today telling me that the insurance price is going up to 5 dollars a month, and the deductible is also being changed. Does anyone know the new deductible?

 

[TechSys]

I just got that message today. I will be dropping the insurance before the week is out. I don't need the crap anyway.
Knowing them, the $80 deductible will probably only go to $75

 

[ChazzMatt]

I just got that message today. I will be dropping the insurance before the week is out. I don't need the crap anyway.
Knowing them, the $80 deductible will probably only go to $75

I was wondering the same thing. When I got my phone I know the deductible back then was $85 and they would give you a refurbished phone. The insurance cost then was $4 per month ($48 per year).

I also know the deductible varies, depending on the price of the phone. I paid $229 for this phone back in November 2010. Since the Optimus is now $149 brand new (current pricing on MetroPCS.com) I was curious what the deductible price on that price would be, even before this new insurance announcement.

$48 per year (old amount) + $85 deductible (old amount) = $133. For a refurbished phone.
Brand new phone = $149.

So, I was about to cancel the insurance! I'm practically paying for a new phone anyway, but would only get a refurbished phone. The insurance made sense back when the phone was priced over $200.

Now that the insurance has gone up to $5 per month, that's $60 per year. Well, the new deductible better be something like $30!

 

[Darnell0216]

You guys should've gotten a letter from Asurion with the new pricing guidelines for Insurance. I got it last month I believe. I'll try and find the letter and put the prices up for you guys if someone else doesn't before then.

 

[agent0064life]

I talked to someone from metro and they said the deductible is 85.

I can buy a used phone on eBay for that much without insurance.

 

[Darnell0216]

That's the current pricing. The new pricing doesn't take effect until June 1st. I found the online copies of the papers they mailed out.

Updated Information: Welcome MetroPCS Customers
Deductible Chart: http://www.asurion.com/html/documents/metropcs/MetroPCS_Handset_Deductible_Tables.pdf

Optimus M deductible will now be $69

 

[TechSys]

Hmm, $149 for a brand new phone or $69 for a refurb that may or may not work (I think that is why my wife's is not working right. Sold as new but was refurb).

I'll drop the insurance. Download the app to backup my phone to my Gmail. Then if anything happens to the phone (stolen, lost, whatever), I can use lookout to wipe the phone completely.
Done deal. Insurance is gone.

 

[ChazzMatt]

Download the app to backup my phone to my Gmail.

Just curious, to which app are you referring?

 

[ChazzMatt]

Optimus: Old vs New



Total annual cost of insurance has not changed that much. Just means Metro is now getting more cash flow each month from all their customers.

And if you go over one year without using the insurance, when you do use it by that time you really are paying the cost of a new phone.


$4 x 12 = $48 per year (old amount) + $85 deductible (old amount) = $133. For a refurbished phone.

$5 x 12 = $60 per year (new amount) + $69 deductible (new amount) = $129. For a refurbished phone.

Brand new phone = $149.



This insurance makes sense when a new phone is well over $200.

========

That's the current pricing. The new pricing doesn't take effect until June 1st. I found the online copies of the papers they mailed out.

Updated Information: Welcome MetroPCS Customers
Deductible Chart: http://www.asurion.com/html/documents/metropcs/MetroPCS_Handset_Deductible_Tables.pdf

Optimus M deductible will now be $69

The Indulge has a $129 deductible? Ouch.

 

[odatkid]

Just curious, to which app are you referring?

I would like to know the app you're referring to also.

 

[Darnell0216]

At this point I'm probably going to cut my insurance. Since we have 2 phones, that's $120 a year + $69 deductible. I got it when we bought them on recommendation. Even the rep said it's not worth it over the cost of a year, but it's good to have to start in case of up front issues. Since we're all good, I'm about ready to drop it.