- Currently I have a 32GB Dev Ed Moto X that I got during the Cyber Monday sale and pay $5.18 + 6% sales tax for insurance on it. Because I have to pay a $99 deductible and will receive back a 16GB non-Dev Ed black plastic Moto X if I need to use the insurance, I am considering dropping the insurance and getting a 32GB wood backed Moto X as my daily driver during the upcoming sale and keeping my Dev Ed as a back up.
My plan is to sell both my Moto X's when the Moto X2 is released. My assumptions are that the Moto X2 will be released in August of this year and I would be able to net $150 by selling a 32GB Moto X and $100 for a 16GB Moto X at that time.
I worked out all of the math given the phone prices, insurance cost, sales tax, net resale values, Google Play credits, Motorola Trade Up $100 prepaid VISA and using the above assumptions, the net costs for the following scenarios would be:
1) $240 if I did not buy a second Moto X during the sale, kept the insurance and never needed to use it;
2) $389 if I did not buy a second Moto X during the sale, kept the insurance but needed to use it; and
3) $340 if I bought a 32GB wood backed Moto X during the sale, drop the insurance and both the wood backed and Dev Ed Moto X's were in good condition to resell when the Moto X2 came out.
So my question is - given the above costs using my assumptions what would you do? I have never lost or broken a phone nor have I ever had one stolen so it is likely I would be fine in the next 7 months without insurance or a back up. However, I always carry insurance for piece of mind so given my risk adversion, I either need to carry insurance or buy a second phone so I have a back up. And I really would like to have a wood backed phone.
To summarize the additional costs of Scenarios 2 and 3 above (i.e., in addition to the cost of Scenario 1 above) are as follows:
Scenario 2: $149
Scenario 3: $100
Of course I am neglecting a 4th scenario - I break the wood backed Moto X and it can't be resold! Then the total additional cost would be close to $300 but then at least I would have my 32GB Dev Ed as my back up phone and not a 16GB one.
It seems like an additional $100 for piece of mind AND a wood backed phone isn't bad. At least that is how I am looking at this. What do you think?01-25-2014 04:14 PMLike 0 - B. DiddySenior AmbassadorToo ... much ... math!
I'd have to sit and read through that at least 10 more times before I could even comment on it directly. What I'd suggest right now off the bat is to consider a 3rd party insurance like SquareTrade. It's $125 for any smartphone for a 2 year policy, which ends up being about $5/month. The main advantage over Asurion is that there is no deductible. Check it out here: Cell Phone Insurance - Cell Phone Warranty - Cellphone Insurance
Edit: How embarrassing--there is in fact a $75 deductible. Still a pretty good deal at about $5/month. But sorry for the misinformation!01-25-2014 04:30 PMLike 0 - Sorry! Here is all you really need to know:
Scenario 2 additional cost = $149;
I keep the insurance, need to use it and receive a 16GB black plastic Moto X to use;
Scenario 3 additional cost = $100
I buy a 32GB wood backed Moto X during the sale, drop the insurance and both the wood backed and Dev Ed Moto X's are in good condition to resell when the Moto X2 comes out;
Scenario 4 additional cost = $288
I buy a 32GB wood backed Moto X during the sale, drop the insurance, damage the wood backed Moto X to the point it can't be resold but I have the 32GB Dev Ed Moto X to use and resell.
I am financially better off with Scenario 3 AND never have to settle for a 16GB phone. With scenario 2, not only am I worse off financially, I have to settle for a 16GB phone. Scenario 4 I am financially worse off, but at least I don't have to settle for a 16GB phone.What I'd suggest right now off the bat is to consider a 3rd party insurance like SquareTrade. It's $125 for any smartphone for a 2 year policy, which ends up being about $5/month. The main advantage over Asurion is that there is no deductible. Check it out here: Cell Phone Insurance - Cell Phone Warranty - Cellphone Insurance01-25-2014 04:44 PMLike 0 - B. DiddySenior Ambassador
So it sounds like they don't provide you with the replacement phone--you purchase the phone, and then they reimburse you. Good question about whether they'll only reimburse the original cost of the phone, or if they'll cover the difference if the price went up after a sale.01-25-2014 05:31 PMLike 0 - I think from what you posted you get replacement cost. But what I meant is do you have to buy coverage within 30 days of purchasing the phone?01-25-2014 05:34 PMLike 0
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What about my scenarios? I think I am going to pull the trigger on the wood backed one on monday but since it won't be in a case, I am a bit worried about dropping it.01-25-2014 05:39 PMLike 0 - B. DiddySenior AmbassadorI guess I'd go for scenario 3, assuming you're not too tight on funds. I think insurance is always a good idea for these devices, considering how ridiculously expensive they can be retail--at least for the first 2 years. 32 GB is, of course, more future-proof than 16 GB. If you're as careful as you sound with your phones, scenario 4 seems unlikely, but you can never tell.01-25-2014 05:43 PMLike 0
- I can afford it. I just have never been without insurance before. I like the piece of mind it gives me. I wouldn't have even considered dropping insurance if they would give me a 32GB dev ed if I need to make a claim. The only downside to the Square Trade policy is you have to do without a phone while your phone is being repaired. And since I am over 30 days now, it would be more expensive.01-25-2014 06:00 PMLike 0
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I do have a GNex as a backup but the bluetooth has issues. I guess I could put a KitKat ROM on it if I had to use it.01-25-2014 06:05 PMLike 0 - B. DiddySenior AmbassadorOk, now your scenarios are starting to coalesce in my thick head. I guess having the 2 phones without insurance would be a reasonable approach. If one of them got damaged beyond recovery, you could probably still sell it for parts for some decent amount.01-25-2014 06:09 PMLike 0
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thanks, guess I should check ebay to see what I could get for a non working Moto X.01-25-2014 06:14 PMLike 0 -
- dpham00Moderator Team VPToo ... much ... math!
I'd have to sit and read through that at least 10 more times before I could even comment on it directly. What I'd suggest right now off the bat is to consider a 3rd party insurance like SquareTrade. It's $125 for any smartphone for a 2 year policy, which ends up being about $5/month. The main advantage over Asurion is that there is no deductible. Check it out here: Cell Phone Insurance - Cell Phone Warranty - Cellphone Insurance
With asurion for example, if I had a note 3 with a broken screen , it would be covered. If 6 months later, I bought a friend's s5 just to try it out for a few days, it would be covered.
In the 2 years term, asurion can replace the device up to 4 times.
Sent from my Verizon Samsung Galaxy Note 3 via Tapatalk Pro01-26-2014 12:20 AMLike 0 - B. DiddySenior AmbassadorYes, you're right. And I'm sorry, I'm afraid I misspoke before--there is in fact a $75 deductible for SquareTrade. Which I think is still a little less than Asurion for smartphones, but not inconsequential. But about $5/month is still worthwhile for me.01-26-2014 12:32 AMLike 0
- dpham00Moderator Team VP
I think it depends, I have 5 lines of service and have had service since the 90s,and not a single phone damaged. On the other hand I have used extended warranty several times.
I only recently got insurance because of my daughter who likes to throw phones around.
Sent from my Verizon Samsung Galaxy Note 3 via Tapatalk ProB. Diddy likes this.01-26-2014 12:59 AMLike 1 - Verizon asurion deductible is $99 for android . Up to $199 for iphone. Keep in mind other carriers can be different in terms of coverage and pricing, my friend on tmobile said they wanted $150 deductible for claims.
I think it depends, I have 5 lines of service and have had service since the 90s,and not a single phone damaged. On the other hand I have used extended warranty several times.
I only recently got insurance because of my daughter who likes to throw phones around.
Sent from my Verizon Samsung Galaxy Note 3 via Tapatalk Pro
Posted via Android Central App01-26-2014 07:39 AMLike 0 -
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Cost of Dropping Insurance vs. Getting a Spare Moto X
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