What seems to be the general consensus on this?
I'm currently with T-mobile and their premium handset protection, which covers loss, accidental damage, theft, and mechanical breakdown, cost me 8$ per month. Of course the deductible is also $175.00
I'm pretty clumsy, I've had my Note 5 for about 2 weeks only, I've dropped it like 4 times, no damage so far, just minor drops. But my clumbsiness is the only reason I even consider insurance. I'm pretty safe with my phone and over last 10 to 15 years, have never loss or have phone stolen, of course this doesn't mean it wont happen. And I've never had the phone just breakdown all the sudden, either way if it does, its still covered for 1 year under manufacturer warranty so really it's just for if I drop it or in the rare case that I get robbed and they steal my phone.
So I went ahead and looked at screen repair cost for my Note 5 through Samsung's repair center is $199.00 to repair. So now it seems really silly to even have insurance. With the $8.00 monthly payment and the $175.00 deductible, I'm better off just paying Samsung to repair it for me.
Am I missing something or does it not seem worth it at all? The deductible is just too high. Then I'm thinking okay, maybe I can wait until a year later or 2 when I'm ready to upgrade and pay 175$ plus the 100ish I've paid monthly since then to claim it fell in the lake and get a brand new one. Even with the depreciation in value, a Note 5 would still probably cost around $400 to $500 so 275 is about a 200 value gained. But with that logic, if I'm planning to get a new phone, I'm not going to care about my old phone anymore whether its in good condition or not. Only good thing this year is my mom really wanted the Note 4 if I was going to get the Note 5, told T-mobile I lost phone at a club and paid the deductible for a brand new Note 4, or seems to be new at least and gave it to mom.
Then I read stories where you are not guaranteed a new phone or even the same model. How does that work?
I'm currently with T-mobile and their premium handset protection, which covers loss, accidental damage, theft, and mechanical breakdown, cost me 8$ per month. Of course the deductible is also $175.00
I'm pretty clumsy, I've had my Note 5 for about 2 weeks only, I've dropped it like 4 times, no damage so far, just minor drops. But my clumbsiness is the only reason I even consider insurance. I'm pretty safe with my phone and over last 10 to 15 years, have never loss or have phone stolen, of course this doesn't mean it wont happen. And I've never had the phone just breakdown all the sudden, either way if it does, its still covered for 1 year under manufacturer warranty so really it's just for if I drop it or in the rare case that I get robbed and they steal my phone.
So I went ahead and looked at screen repair cost for my Note 5 through Samsung's repair center is $199.00 to repair. So now it seems really silly to even have insurance. With the $8.00 monthly payment and the $175.00 deductible, I'm better off just paying Samsung to repair it for me.
Am I missing something or does it not seem worth it at all? The deductible is just too high. Then I'm thinking okay, maybe I can wait until a year later or 2 when I'm ready to upgrade and pay 175$ plus the 100ish I've paid monthly since then to claim it fell in the lake and get a brand new one. Even with the depreciation in value, a Note 5 would still probably cost around $400 to $500 so 275 is about a 200 value gained. But with that logic, if I'm planning to get a new phone, I'm not going to care about my old phone anymore whether its in good condition or not. Only good thing this year is my mom really wanted the Note 4 if I was going to get the Note 5, told T-mobile I lost phone at a club and paid the deductible for a brand new Note 4, or seems to be new at least and gave it to mom.
Then I read stories where you are not guaranteed a new phone or even the same model. How does that work?
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