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General Yes of No: Verizon Equipment Protection

Discussion in 'Android Devices' started by jetguat, Sep 19, 2013.

  1. jetguat

    jetguat Android Enthusiast
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    I dont really ever purchase additional protection for devices or stuff at home, except for major kitchen appliances. I didnt purchase protection for my Droid Bionic. I am pretty good/safe with my stuff. I've dropped the Bionic but the case has protected it nicely. That is until I accidentally took it for a swim with me. Bye Bye Bionic.

    So to keep my unlimited VzW data, I am going to purchase N3 at full retail price like many of you. Its cheaper in the long run, over the add monthly cost to move to a Share everything plan.

    So after dropping $736 on the phone. What your guys views on the protection options available. (FYI I called my State farm agent, State Farm no longer allows/offers cell phone coverage/protection).

    Total Equipment Coverage $8 p/month (loss, theft, damage, you name it)
    Asurion $5.18 p/month (loss, theft, damage)
    Extended Warranty $3 p/month (replacement for equipment issues)

    Figuring that I will have the phone for at least two years. is it worth the $120-$200ish to protect it? Most secondary insurance is really just a money grab. But paying full price. Dang... its giving me pause...

    views? Comments? :thinking:
     

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  2. The_Chief

    The_Chief Accept no imitations!
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    Well, Squaretrade is a good price, but (a) it's all up front and (b) doesn't cover loss or theft. Considering the price of the phone and the value of its contents, I will get TEC on it.

    Like any other insurance policy: you don't get it because it's a bargain. You buy a good one and hope you never have to use it... but if you need it and DON'T have it, what would you do THEN?
     
  3. jetguat

    jetguat Android Enthusiast
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    reading the TEC from the vzw site. Its got the $3 extended warranty included, which most people already get on their credit card. At least up to 1 extra year. what is the standard warranty on the Note 3. TEC also has some garbage/crap in which they can help you trouble shoot stuff. Doubt most folks on this site need that. We all help each other! So at best I was thinking the $5.18 Asurian coverage. Its got a $99 deductable, which I guess most/all plans will have.
     
  4. xaelith

    xaelith Android Enthusiast
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    The manufacturer's warranty ONLY covers defects (lots of dead pixels, something not working correctly out-of-the-box, etc.)

    TEC covers all that, plus theft, and accidental and water damage. However, that all comes at a price: 1) the coverage is close to $10/month, 2) when you DO have to file a claim, they require a $100 deductible up-front, and 3) you're only allowed two claims within a 12-month period (manufacturing defects not included in that caveat, but Verizon is good about exchanges, so long as you can replicate the problem in-store).

    The best coverage plan I've come across so far is Best Buy's Geek Squad Protection plan. it's either $170 up-front or $10/month (there's a benefit to paying all at once other than saving money in the long run, but I don't remember). It covers everything the TEC does, but there is no deductible, and I want to say there's no limit on claims either (haven't tested it out, and can't remember what they told me when I got my Photon Q; I've gotten better at protecting my devices in my "old" age, but I still tend to be accident-prone :p). One other additional bonus that I just remembered is that with GSP, you are able to get a new device in-store at the time of filing the claim; with TEC, you're required to wait for them to mail it to you (which can take up to 3 days depending on when the incident happens).
     
  5. rivera02

    rivera02 Android Enthusiast
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    From what I remember, the best buy coverage didn't replace lost or stolen devices.
     
  6. zendroid

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    Years ago I made the money saving choice to self insure.

    It's one of the best decisions I've made. Here's a brief explanation of my personal insurance company. :)

    Each month I make a "payment" into my dedicated smartphone account I've setup at my bank. Obviously each month the balance grows larger. If I don't have an accident, loss, or catastrophic event, that sum of money keeps getting larger. You'd be surprised how well this works.

    In the event I do need it, there's no deductible, no hidden exclusions, plus I know the owner of the company :)

    After I established this arrangement I went a full five years without needing it. Then one day I dropped and shattered my phone. Not only did I get a brand new phone for "free" there was money left over. Now that's hard to beat!
     
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  7. The_Chief

    The_Chief Accept no imitations!
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    Self insurance is always the best... IF you can afford both a new phone fund and an insurance fund :)
     
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  8. Jerry-rigged

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    I tend to drowned phones about once every 14 months. I use the Asurion insurance, $100 deductible, and have had no issues. I have also tried 3rd party insurance and gotten the screw.
     
  9. AntimonyER

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    I usually skip the extended warranty, my credit card covers me there. I chose insurance through Verizon for a couple of reasons:
    1. Coverage limits much higher. If you are a klutz with your phone, assurion coverage is good for three full phone replacements. Most third party insurance is only good for one.
    2. Covers loss and theft.
    3. I usually don't carry insurance the full 2 years. After a while, the difference between buying a comparably specd phone off eBay or Craigslist or swappa, or repair parts to fix damage myself, and the deductible are no longer wide enough to justify insurance. So I cancel it when that happens and self insure from that point on. Usually happens Around the 1 year mark. The third party plans are all up front, so you don't have that option.
     
  10. TulsaTime

    TulsaTime Well-Known Member
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    I plan to carry the TEC. I kept it on my current razr maxx and never needed it till about a month ago when I dropped the phone out of my pocket in my car and shut it in the car door before I realized it. Had a new phone from Asurion within 24 hours no questions asked. It was a great experience, even with the $100 deductible. I plan to sell that phone now when I get my N3
     
  11. jetguat

    jetguat Android Enthusiast
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    Exactly what I was gonna do. Use my credit card for extended warranty. So that's the two years there. Use the Asurion to $5.18 p/month from Verizon. It helps that your can cancel whenever. So like you once its closer to time for a new phone, will likely just drop the coverage.

    Don't normally do extended protection. But paying full price on my white N3 coming, I guess I wanted protection from myself or my kids accidents.
     

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