Is cell phone insurance a good idea, or is it just a rip off?

1. 78

   Earl S. Wynnposted 12 years ago

   Is cell phone insurance a good idea, or is it just a rip off?

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2. 54

   xquisit1985posted 12 years ago

   Absolutely a great idea. I have saved thousands of dollars by having my insurance replace lost stolen and damaged phones! I wouldn't be caught without it

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3. 63

   Abbasangelposted 12 years ago

   Now that is a good question.
   
   These days Cell Phones have your "life" on it, your apps, that you use for budgeting, emails, etc.
   
   If your insurance covers this when you have theft of identity
   Also phones are worth a lot of money, almost as much as a laptop or musical instrument.
   
   These phones can be fragile or malfunction, it would be handy to be able to have this fixed quickly and with not so much out of pocket expenses.
   
   It depends on how much you value your phone, or how much of a pain it is going to be when you don't have it.
   
   I used to think the same way about pet insurance until I got my kitty, and she was unwell.

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4. 64

   Brandon E Newmanposted 12 years ago

   All insurance is a rip-off if you don't file a claim now and then.

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5. 71

   vinnerposted 12 years ago

   I think it is a good idea, as it will be useful in case of theft. Also as the prices of phones are going up, it is becoming a must

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6. 52

   itsascamposted 12 years ago

   It depend so much on how you value your phone that there is no definite answer.
   
   However, I would much rather buy a new one than to pay for insurance. It is not worth it.

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7. 64

   glendajaneposted 12 years ago

   I personally think that phone insurance is a good idea - especially for when we have those unexpected moments when we may lose our phone, or if an unfortunate event occurs such as having your handbag stolen (which has happened to my mother before). Insurance is a good safety net, no matter what it's for , whether your car, travelling or your phone. As they say, better to be safe than sorry!

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8. 0

   Teri Heltonposted 12 years ago

   From personal experience, Yes, it is a good idea to insure your cell phone. We purchased an expensive cell phone and it fell out of my pocket into water. It was ruined. Nothing worked to revive it. We couldn't replace it as our budget wouldn't allow it and we had not insured it. We were left with a contract and no phone. The company put our contract on hold and that's where we're at right now. If we had insured our phone, we would have had another the next day. It is always worth it to insure.

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9. 60

   smarter4everposted 12 years ago

   Hi Earl.  I think that depends on how often you drop your phone, travel, participate in sports....  Situations where you are likely to damage your phone.
   
   Also, I have a 16 year old, whom, in one year, had to replace her phone 6 times, so I was glad I had the insurance.  I saved hundreds by having insurance.  Mine only costs an additional 5.99 per person, and I have a $50 deductible which is cheaper than buying a phone outright or paying for repairs.

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10. 50

    zainab783posted 12 years ago

    it may a good idea instead of bad things

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11. 61

    supplies expertposted 12 years ago

    Depends on how careful you are with the phone... if you're in the US and you have Verizon, I believe it's only $5 a month, so $60 a year... say if you have a phone that costs only $100 it'd definitely not be worth it, since there's a $50 deductible so it'd be $110 to get a replacement. But say if you were to lose/break two phones then it'd be $160 as opposed to $200 and would be worth it. Not many phones though are worth only $100 anymore so overall if you're prone to breaking/losing cell  phones then I'd say go for it.
    
    As for all the other answers about people stealing your phone... Does that happen often?

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12. 70

    Sparkle Chiposted 11 years ago

    I absolutely love having insurance on all of my electronics!
    
    I was never comfortable with the cell phone insurance plans, they never seemed very good to me. But I am one of those people that hardly ever uses insurance of any kind. I don't get into car accidents, I don't get sick, and I don't lose my cell phone.
    
    When I came across Square Trade warranties, I changed my mind. I absolutely love their prices, the fact that they offer accident protection, and their customer service is the best! I cover all my devices with them now, and would never consider it a rip off. The quality of some of these high priced devices might warrant calling them a rip off though.. unless you have good insurance!

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