Phone warranty

[monil]

It has been just 8 days for my phone so far. All is good, I am probably inclining to keep it...

I am wondering if it is worthwhile to purchase any insurance coverage for the phone.

Sprint offers TEP program wherein I need to pay $8 per month. If something happens, I will need to shell out a $100 deductible over the phone replacement.

I was checking squaretrade.com. They are offering a warranty for $124 which states the following:
Coverage Details

2 years of coverage: The SquareTrade Smartphone warranty covers your Smartphone for up to 2 years, starting on the date of purchase.

Covered Issues: Both accidents (e.g., broken screen or other damage through drops AND liquid damage including full immersion) and out-of-warranty normal use failures (e.g., battery no longer charging or other hardware failures) are covered. We do not cover loss, theft, willful damage or damage occurring through gross misuse.

Deductible: There is a $50 deductible when claiming on an accident (e.g., drops, spills). There is no deductible for a normal use failure (e.g., power issue).
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Does any one have any experience using either of the warranties? Is it really worth spending money?

Please share your thoughts.

 

[Relgoshan]

Some people claim 1yr Warranty + Sprint replacement plan is plenty, TEP adds up to $100 per year so it's better if you FREQUENTLY risk damaging the phone.

 

[monil]

Some people claim 1yr Warranty + Sprint replacement plan is plenty, TEP adds up to $100 per year so it's better if you FREQUENTLY risk damaging the phone.

Well, i am a careful user. Sure, occasional bumps and scratches happen. Never lost a phone so far (fingers crossed).

 

[Relgoshan]

Then ride into the the sunset, wild and free. Call it another $80 in the New Year drinking fund, or another $200 in a kid's college fund.