Ok. I have a kid in my house that's about to turn 9 months old. He's still in the slobbering stage. If something happens to my phone in my house, will my homeowners insurance cover the phone or will Sprint's TEP cover any accident in my home. What is everyone using for insurance? This EVO was a huge investment and I just want the best. Thanks!
Does My Homeowners Insurance Cover My Phone?
- Thread starter dougeetx
- Start date
Not sure anyone else can tell you what YOUR homeowners insurance policy covers. Most likely you have a deductible that would be higher than the TEP deductible...and possibly higher than just outright buying a new phone...you will have to look into your policy. Although I doubt many policies would cover drool damage...they are usually limited to theft, fire, etc.
As far as TEP through sprint.... here you go:
http://www.nextel.com/assets/pdfs/en/services/service_repair/AP9303-2024_TEP.pdf
I just called up Geico to see and this guy wouldn't even give me a straight answer. Uuuggh. I'll just stick with the TEP insurance. Will the phone be brand new or will it be a refurb? I'm thinking new since the EVO is so new but there again, I'm not sure.
I am a Business Analyst for an insurance company. I used to be an underwriter. Coverage for your phone will vary by company and type of policy that you have. My company has an endorsement that you can add to your policy to provide open perils coverage (cause of loss is covered unless specifically included).
As noted a Homeowners claim will most likely result in surcharge levels that can take years to come back off. Also your deductible is probably more than the cost of the phone.
There are also lots of stories of people having a couple of small claims and then being canceled. Is it worth that risk? If you move to another state you may be uninsurable by your company for 3 years even with one small claim.
The insurance from Sprint is cheap when you think about a $500 investment. The last time Homeowners policies had $100 deductibles was 20 years ago. And a TEP claims does not show up as an insurance claim.
There is a type of policy called a Personal Articles Policy that may cost less than $7 a month and may have no deductible. But that again will be a claim on your record and can affect your homeowners rates and your future insurability.
There are also lots of stories of people having a couple of small claims and then being canceled. Is it worth that risk? If you move to another state you may be uninsurable by your company for 3 years even with one small claim.
The insurance from Sprint is cheap when you think about a $500 investment. The last time Homeowners policies had $100 deductibles was 20 years ago. And a TEP claims does not show up as an insurance claim.
There is a type of policy called a Personal Articles Policy that may cost less than $7 a month and may have no deductible. But that again will be a claim on your record and can affect your homeowners rates and your future insurability.
What's your deductible on homeowners? If it's low enough to pay for a replacement phone you're probably paying way more than you need to.
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