Insurance for my Cell Phone?

[cschin4]

My son bought the Envy Touch phone with his own money and insurance. Eventually it did break. We called the insurance and you couldn't even talk to a human being unless you first paid $89 via your cc over the phone. If that was in the fine print somewhere, i didn't see it. It is a waste. I would suggest perhaps buying cheaper phones and viewing them as more disposable.

[WealthWrestlers]

Unless you are extremely clumsy, I would avoid the insurance. $7.00 a month for a phone is pretty pricey...

[photo]

Just purchase a new Android $300 cell phone from Veriozon. I have 14 days to consider getting insurance coverage for about $7/month and a $99 deductible.

Normally, I would say no, but with a $99 deductible, I would say definitely not.

The only insurance I think worthwhile is for life, health, and auto. (There may be another one somewhere that I'm forgetting.)

[thefrugaltoad]

Depends. We have insurance for my 12 year old. She lost 2 phones within a 6 month span. If you take reasonably good care of your things you can forgo the coverage.

[shanecurran]

The phone is like a used car in the sense that the second you drive it off the lot (or make the first call in this case) it is no longer worth the sticker price. The value of the phone is less than $300 and as quickly as technology is increasing the value will drop quickly. One year from now the next best thing will be out and that phone will be worth less than the deductible. You would have to be a grossly negligent phone owner for the insurance to make sense (like 90% chance of losing or breaking the phone in the first month) and if that is the case you should not spend $300 on a phone IMO.

[photo]

I lose/break phones regularly.

How? My phone is so old that it may be worth something to a museum! Not really, but it is 7 years old. I can't tell you how many times I've dropped it, but it really doesn't have any major dings. I lost a phone in the previous century and have since always kept a better eye on it and don't think I've even come close to losing it. I've owned 3 phones: my original one, the replacement, and my current one. When mistakes cost me, I'm a quick learner.