cblaisd

A family member just got a new iPhone 7 (an upgrade, which re-starts the 30 month contract clock) to replace a 6S which had been dropped and rendered inoperable.
This isn't the first time damage to phone or screen has happened

I have a couple of days to decide whether to enroll that phone in AT&T's mobile insurance plan, but would like the opinion of the experts:

https://protectioncenter.att.com/con...pp/miterms.pdf

https://www.att.com/legal/terms.mobi...amdetails.html

$8.99/month.

chipmaster

Read the fine print, looks like there is deductible and for newer models an out for them, but of course an iPhone7 isn't new by anymeans.

FWIW a new screen replacement runs 50-100 bucks depending where and whom you have do it. If you do the math the premium adds up in my back of the envelop math to break even about every 12 months, add the deductible and you are looking at 9 months break even.

BTW do you use a silicon case, I can honestly say I've dropped my iPhones a dozen times and nothing, knock on wood.

Boraxo

No. Go to Wells Fargo, apply for a free 1.5% cash rewards credit card (no annual fee). Set up autopay for your monthly mobile phone bill to the WF card. Free theft insurance, no additional cost. Enjoy.

tentseller

I only buy insurance for my daughter's phone. It is a simple cost benefit analysis based on historical data.

Instead of crying to Daddy, she cries to the service provider who overnight a replacement. That is a lot more than I can do.

CPRich

As with most insurance, it's not a positive investment in aggregate, but it is if you're the subset who needs it.

iPhone 7 at AT&T looks to have a $225 deductible. Screen-only is $49 (who repairs it is unknown) - it's $125 through Apple directly.

A used iPhone 7 128GB is about $385 in Good condition through Swappa, which I've used before.

At $9/month, and with used phone prices falling over time, that's about 15 months of insurance costs to equal the cost of full replacement or 8 months for screen replacement.

You need to decide on how long you think it would be until replacement is needed, and the value of cost certainty vs. a one-time larger cost at an unknown time.

AT&T still has "contracts"?

javabytes

Yoshi212

Just filed my Wells Fargo coverage claim and it was very very easy. Apple repaired my cracked screen in about 75 minutes and claim is pending review. I called to confirm they received the appropriate paperwork and the CS rep was really efficient while also polite. Really nice benefit for a card with no annual fee.

KRSW

Spoken like a true FT'er!

Also, check your homeowner's policy -- mine had an additional rider for $10/YEAR for mobile device coverage or $20/YEAR for all of my electronics (computers, laptops, HiFi/etc). $50 deductible.

Boraxo

good point ^ my liberty mutual policy has a similar rider covering theft of ipads, laptops, etc. of up to $5k per year with $50 deductible.

nmenaker

abosfreakinlutellyno. These plans are really no good for anyone other than ATT. They often get added without knowledge - of course a confirmation is done but nobody really understands. Sometimes they are FREE for the first month, but then nobody remembers to cancel. After 2-3 years you've already paid enough to buy a new phone. When one buys a new phone, one forgets to terminate this coverage.

Most decent credit cards have some 90 days of damage, loss coverage. Some have mentioned squaretrade, it's a better value as it's a one time purchase 75-100$ and then either NO or LOW deductible. No, you can't just walk in and walk out of an ATT store with a new device, but I don't see that as a problem.

The ONLY caveat I would make is there USED to be a 10.99 plan that would cover a family up to FOUR on a shared data mobile share bundle. At that price, for FOUR iphones - two of which are most likely Kids, there is an argument to be made that the cost/benefit for that is decent. YMMV. If it's still available on family plans, it would most likely require a call and some negotiating.

Otherwise, walk away ;-0

cblaisd

I appreciate everyone's wisdom. I've decided to forgo AT&T's plan and look for something else; thanks for the suggestions.