How much is the deductible on the lumia 900?

[rgbjr]

How much is the deductible on att's insurance on the lumia 900?

 

[ninjaap]

I wonder that too, but I'm going to venture and guess that's a tier 3 phone at $200 deductible range. Which would mean that if I broke my phone after a year, the cost of monthly payments, plus the deductible would bring it to about $300 to get it replaced. Which to me is no longer worth it. As you can tell, I've also thought about getting the insurance.

 

[rgbjr]

Well once you put it that way it doesn't seem like it's worth it. However, if something were to happen to the phone sooner than later....

 

[ninjaap]

That's true... Maybe its a good idea to get the insurance and cancel after a year?

 

[eastbayrae]

$200? Wow, it used to be $50.

 

[rgbjr]

I tried getting the insurance on att's website but it keeps giving me an error. Going to have to call them later then.

 

[Oridus]

Deductible is $125

 

[Oridus]

I wonder that too, but I'm going to venture and guess that's a tier 3 phone at $200 deductible range. Which would mean that if I broke my phone after a year, the cost of monthly payments, plus the deductible would bring it to about $300 to get it replaced. Which to me is no longer worth it. As you can tell, I've also thought about getting the insurance.

Insurance on ANYTHING is EVER meant to be cost effective.... it's meant to make sure that you're not digging yourself a hole in the current time. It's a convenience thing.

$292.76 for 24 months of insurance plus 1 replacement of a phone at a $125 deductible with no new contract is better than $450 (using lumia as example) up front in the first 6 months, or $386 with new contract (including upgrade fee)..... then I could turn around a pay $100-200 plus $36 upgrade fee whenever I want for the latest and greatest phone.

 

[red grenadine]

Insurance on ANYTHING is EVER meant to be cost effective.... it's meant to make sure that you're not digging yourself a hole in the current time. It's a convenience thing.

$292.76 for 24 months of insurance plus 1 replacement of a phone at a $125 deductible with no new contract is better than $450 (using lumia as example) up front in the first 6 months, or $386 with new contract (including upgrade fee)..... then I could turn around a pay $100-200 plus $36 upgrade fee whenever I want for the latest and greatest phone.

It is way more cost effective to self-insure than to pay AT&T / Asurion a fat margin to do it for you.

Unless, of course you are an "adverse" candidate for insurance (i.e. you would lose/break your phone more than the normal person). Then take as much advantage of the insurance companies as possible. Although I do believe they limit the amount of claims you can file

 

[rgbjr]

It is way more cost effective to self-insure than to pay AT&T / Asurion a fat margin to do it for you.

Unless, of course you are an "adverse" candidate for insurance (i.e. you would lose/break your phone more than the normal person). Then take as much advantage of the insurance companies as possible. Although I do believe they limit the amount of claims you can file

If I remember correctly they only allow 2 claims per year

 

[Oridus]

It is way more cost effective to self-insure than to pay AT&T / Asurion a fat margin to do it for you.

Unless, of course you are an "adverse" candidate for insurance (i.e. you would lose/break your phone more than the normal person). Then take as much advantage of the insurance companies as possible. Although I do believe they limit the amount of claims you can file

Self-insure? Want to elaborate?

 

[ftap]

Self-insure? Want to elaborate?

Self insure means take your own chance. Use Amex 90 day accidental protection and most credit card extra year warranty.

And for gods sake. Get at least some type of silicone shock absorbing cover that can be brought for less than $20

 

[red grenadine]

Self-insure? Want to elaborate?

Simply take the money you pay AT&T and set it aside yourself

Let's say you are a person who breaks/loses his phone once every 5 years

You pay to AT&T:
7*60 months = $420
Deductible = $125
Total = $545

AT&T purchases a used/refurbished phone (Cost ~$300-$400) and sends it to you
They take in anywhere from $145 to $245 in profit from you

Now just do this yourself and set aside $7 a month in some imaginary account (or even a real account in your bank or something)

Do the same math, but instead of AT&T pocketing profit, your insurance fund still has $145 to $245 in it.

Now obviously this depends on whether you are a good risk or not. If you're the type of person who breaks / loses their phone twice a year then you are an adverse customer that in a perfect world wouldn't be insurable or would have to pay much more for insurance. If that's the case, take advantage of AT&T/Asurion not knowing your behavior

However, for most normal individuals that aren't out breaking or losing their phones (and really, any type of consumer electronics), its almost always better to self-insure. Especially with things such as accidental protection built-in from credit cards. I would say doubly so in the case of cell phones with the ability to break contracts and get better pricing for phones, etc

 

[rdubmu]

I broke my phone twice in two months last year. the first time I did the Assurance and paid $130 with Tmobile. The 2nd time, I took it into a repair shop and fixed the digitizer for $75 on my HD7.... I am thinking insurance is a waste unless if you are prone to loosing your phone. I would do total coverage for $9.99 for that

 

[ninjaap]

Insurance on ANYTHING is EVER meant to be cost effective.... it's meant to make sure that you're not digging yourself a hole in the current time. It's a convenience thing.

$292.76 for 24 months of insurance plus 1 replacement of a phone at a $125 deductible with no new contract is better than $450 (using lumia as example) up front in the first 6 months, or $386 with new contract (including upgrade fee)..... then I could turn around a pay $100-200 plus $36 upgrade fee whenever I want for the latest and greatest phone.

$125 is a whole lot better than $200. But if I think about it, its still not worth it, because phones drop in value within a year. I bet we'll be able to find a brand new 900 on Craigslist, Ebay or Amazon for about $200 once WP8 devices are released.

The latest and greatest is only available to you if your current phone is no longer available, which probably won't happen for two years. By then you're already eligible for a new upgrade. I myself am always eligible for an early upgrade after just 18 months.

 

[Oridus]

Simply take the money you pay AT&T and set it aside yourself

Let's say you are a person who breaks/loses his phone once every 5 years

You pay to AT&T:
7*60 months = $420
Deductible = $125
Total = $545

AT&T purchases a used/refurbished phone (Cost ~$300-$400) and sends it to you
They take in anywhere from $145 to $245 in profit from you

Now just do this yourself and set aside $7 a month in some imaginary account (or even a real account in your bank or something)

Do the same math, but instead of AT&T pocketing profit, your insurance fund still has $145 to $245 in it.

Now obviously this depends on whether you are a good risk or not. If you're the type of person who breaks / loses their phone twice a year then you are an adverse customer that in a perfect world wouldn't be insurable or would have to pay much more for insurance. If that's the case, take advantage of AT&T/Asurion not knowing your behavior

However, for most normal individuals that aren't out breaking or losing their phones (and really, any type of consumer electronics), its almost always better to self-insure. Especially with things such as accidental protection built-in from credit cards. I would say doubly so in the case of cell phones with the ability to break contracts and get better pricing for phones, etc

Do you gamble like that with your car? ^_^ have fun with that.

 

[red grenadine]

Yep automobiles and consumer electronics are completely the same. Same risks and everything. Enjoy your ignorance

Sent from my Windows Phone using Board Express

 

[Oridus]

Yep automobiles and consumer electronics are completely the same. Same risks and everything. Enjoy your ignorance

Sent from my Windows Phone using Board Express

If you like paying huge chunks of cash to replace a phone, that's fine. But most people I know, have much more important things to think about.

 

[red grenadine]

If you like paying huge chunks of cash to replace a phone, that's fine. But most people I know, have much more important things to think about.

I just gave you the math on why that might not be the case. Those small chunks of cash you pay monthly + the deductible are oftentimes bigger than those huge chunks you are talking about.

How about this:
Samsung Focus bought in November 2010 breaks/gets lost today
You've paid $7*18 months = $126
Add $125 deductible = $251 total replacement cost

eBay shows a refurbished Focus costs $159, used $90. You've paid AT&T $251 for one instead. How did that trade end up for you?

This doesn't even take into account the fact you can upgrade to a better phone with a new contract.

Again, if you're losing your phone twice a year by all mean get the insurance. You're a "bad" insurance customer in that you're costing them money and benefiting from that.

 

[danwc]

I've had good luck with squaretrade for phone insurance. It is now a bit more expensive and the deductible is higher. But with my Focus. It fell about a little over a month from when I got it, in a case, at just the right angle and the screen broke. The insurance cost me 94 or something like that. I had to pay a 50.00 deductible. And they ended up paying me full retail for the phone (close to 600). Att worked out some way to charge me an update renewal price of 250. So I made money off the deal. I've looked into their prices this time around. They are now 124 for 2 years insurance and 100 deductible, but you cam cancel at any time for a prorated refund. So if you bought and kept it for a year and then cancelled it, you'd get 62 back. Something else to think about.

Sent from my Lumia 900 using Board Express