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  1.    #21  
    Quote Originally Posted by copernicus
    I think it's wise to insure as well. I had my car broken into and the phone stolen once. In those days, as I undertood it, one had to make out a police report and provide the report number to the company working with Sprint on the insurance side (which I did). When I called to confirm that my 700p was covered, the current company (Lockline) told me that was no longer necessary and explained that if the phone had water damage, was stolen from ones desk or at Starbucks, was dropped and cracked open, all that was covered, no questions asked. Like KStewart said: On a $700 phone, yeah!
    Hell, I was told that if I got angry and threw it against a brick wall, it's covered. That said, if I should throw it against a brick wall, I think I'll tell it was lost.

    Also, I'd like to add that now that I'm insured, I felt really good about taking the phone rock climbing today.
    Blogging at Agabus.com

    Palm V > Vx > Clie Peg T615C > T3 > Clie TH55 > T3 > Treo 650 > Treo 700p & T3
  2. #22  
    Quote Originally Posted by ScaryHumor
    I was so glad I had insurance. I even told the nice lady at Lockline what happened, and got a chuckle.
    I'll keep my insurance.
    Let that be a lesson to us all!... Never tell anyone a story like that because they will only laugh.. as am I! haahaha thats funny...

    That happened to someone I know. She was on the phone with me while she was cleaning the house. She reached for something over a toilet and all I heard was "Oh CRA......" The sound got distant like she was pulling the phone away from her mouth as she said it. Then it went dead. She called me back from the house line and told me what happened. I also laughed. She didn't have insurance.
    "So long and thanks for all the Treos!"
  3. #23  
    Oh yeah, I have insurance. Was visiting my brotherinlaw (while back), when my old but sweetest doggy (american eskimo) fell into the pool. She has cataracts in both eyes - moderate. I jumped right in to save her as$. Well, the phone & battery was toast. Verizon said tough luck. But I had taken the battery right off and after a good wipe down and shake off, stuck the phone without the batt in a toaster oven on low for about 2 hours. Bought a new bat and the phone worked rather well. Until I bought the treo. So, Insurance is worth every penny you pay. Imagine that happening to a Treo. The old one was a Samsung flippo.
  4. #24  
    Quote Originally Posted by Aviator
    But I... stuck the phone without the batt in a toaster oven on low for about 2 hours. Bought a new bat and the phone worked rather well
    That's the coolest thing I've heard all day.
  5. #25  
    I understand it is quite well known trick. And it works every time. Just dont be in a hurry to try it on with a new batt until you are sure there is no more moisture left.
  6. #26  
    Quote Originally Posted by KRamsauer
    I did buy it even though in theory I'm opposed to insurance for such small items. Call it adverse selection if you must, but I know that I'm rougher on my stuff than many.
    you are mostly right, and your position is sound financially as a rule, but maybe not in this case.

    insurance against any non-catastrophic loss (the kind that would make you lose your home) is generally a mistake. the average consumer is not just mistaken to have a low deductable, but statistically any collision insurance on their vehicle (or even theft insurance). Insurance companies calculate odds, add profit, and thereby offer services that do not pay for the consumer to purchase.

    in the case of handset insurance it would normally be completely insane to get insurance sicne you are underwritingall the company's employees, overheads, stockholders and a boatload of people committing insurance fraud. you are even paying state and federal taxes on your insurance purchase!

    but as long as sprint charges the same $6 price (effectively about $12.50 per month) for your $600* worth of insurance (replacement minus deductable) as they charge the sucker who is stupid enough to insure a $150 phone --often after one year when the insurance is worht a mere $25 ($150 phone -50 deductable - $75 accumulated replacement rebate) -- then you are getting the good end of an unequal cost benefit wiht loewr cost handset insureres underwriting your insurance purchase.

    so yes, all things equal it would be 1) idiotic to insure a handset or anything under a few thosuand dollars; 2) more a product of buyer's remorse just like "extended warranties" (also a major consumer mistake), than a logical one.

    but in this case other fools are underwriting you so the decsion is probalby one that could go either way. I have had mobile handsets for almnost 15 years and broken one. got a break ont he replacemnt phone

    we have two 700ps on our three line account. since sprint retention has writen into our notes the ability to add a line at no montly cost my replacement cost is effectively lower ($400* or less). My decsion is to insure one handset for one month** and the other for about five to six months then drop insurance.


    **I added this atwo days before ordering my phone. a good retention strategy is to add the insurance just before you get your offer as it juices up your profitablity and the credits to which you are eligible.

    Quote Originally Posted by dbarrett5381
    What a lot of people don't understand though, is you paid 300$ for the phone, but you got a subsidized price. If you have to replace it, you will pay full retail of $649.
    * you also pay a $50 deductable for lost handset through insurance, AND recycle your rebate eligiblity date. so your highest recovery is not $650 but $600, minus about $6.25 ($150 rebate/24 months) a month in addition to you insurance premium. IE if lose the phone at 10 months your have paid $65 plus tax (average 15%!) and lose another $65 in rebate benefit, and lose r $50 deductable. the phone will have declined in price. let's say it is selling in ten months for $550. your benefit is $550 -$50 - $65 - $65 = $370.

    my suggestion is that anyone who hasn't spend $6 worth of their time and sign up as a palm developer. that lowers your replacment cost $100 right there. I also suggest you consider negotiating a very low priced/free additional line to be added to your notes thereby dropping your repladment cost to that of a new customer (staggered contract dates are an excelent way to get cheap high end handets once a year).

    On the insurance to each his own but balance the real costs which are not $6 month but more like $14.

    postscript:
    just checked ebay. sealed in-box no contract 700p's for sprint from reputable sellers on ebay are about $500. they will be $400 by christmas if normal price trends follow
    Last edited by aero; 06/20/2006 at 07:57 PM.
  7. #27  
    Are you allowed to cancel the insurance mid way through your contract?
  8. pump142's Avatar
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    #28  
    I have verizon..4.99 / mo wel worth it for a phone that costs this mush..
    Ever since my 600 (then 650) Ive needed it 4x
    M505 -> M515 -> Kyo6035 -> Kyo 7135 -> Treo 600 ->Treo 650 -> Treo 700P -> Treo 700 WX -> Samsung Saga VZW
  9. #29  
    Aero, convoluted logic, but you may be right. However, for most in this forum, like me I would say it remains a bargain if something were to occur in the first month or two.
  10. #30  
    Quote Originally Posted by jkimcpa
    Are you allowed to cancel the insurance mid way through your contract?
    With Sprint you used to be able to cancel the insurance at any time. I'm not sure if that has changed but I doubt it.
  11. #31  
    Quote Originally Posted by copernicus
    With Sprint you used to be able to cancel the insurance at any time. I'm not sure if that has changed but I doubt it.
    you can cancel any add on, and of course even lower or raise your plan with no renewal of contract. it is an old trick to add services before renewal to get a better deal.

    if you might be raising your plan minutes aim to get the biggest % discount. iof you are more interested in add ons aim for credits tied to add ons
  12. Noahas's Avatar
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    #32  
    Quote Originally Posted by Lnoble
    I do have insurance on my phone through Verizon. You should make sure you're homeowners insurance explicitly covers portable electronic devices, since mine (State Farm) would not cover it without an additional rider. The other problem with relying on homeowner's insurance, even with a separate rider, is that every claim counts against you. Enough claims, even small ones, and your insurance company can drop you or raise your rates. I did not want to jeopardize my homeowner's insurance for a $400 to $700 claim.

    This is not entirely correct according to my agent (State Farm for 15 years). I got the PAP (personal articles policy) through them and the cost is I believe $1.50 per $100 annually (so $9.75), don't hold me to that as it might be up to $2.50 per $100 as I also got my $800 camera and $1500 tablet pc added as well and all 3 rates were between $1.50 - $2.50 per hundred. In addition, she told me the best part is that it will not affect your homeowners insurance and only that rider, so if worse comes to worst, they will cancel that rider, but claims will have no effect on the homeowners insurance. Also, it is a $0 deductible and covers everything except malfunction and intentional abuse. I figure between that coverage and the one year warranty which is doubled by my credit card, that gives me 2 years of warranty protection for everything except intentional damage for less than $30.
  13.    #33  
    aero,

    All that you say is well and good, except I frankly have destroyed enough phones and handhelds to see some benefit. No doubt, Verizon profits and I don't begrudge them that. I'm simply tired of having to use busted cell phones and PDAs because I'm too cheap to fix them.

    Granted, I saved some bucks when my Nokia busted and I could only make calls from the wire headset, but, gee, what a pain. And I'm tired of having to slap my T3 into action. Or the Treo 650 keyboard that doesn't type F's. If I fixed everything that I've busted (dropping is the primary method), I'd be out a lot of cash. But, instead, I'm ahead quite a few bucks, using eletronics that no longer function as they should.

    Frankly, I'm done with that. I want my Treo 700p to function two years from now as it does today. If this means paying a few extra bucks per month, great. I can afford that; I can't afford to replace the Treo at full price (and, yes, Verizon doesn't pay $650 for the Treo; that's good for them).

    It really comes down to what one should insure. I wouldn't insure my desktop. There's very little chance that I will drop it. But a Treo? I have dropped every PDA I've ever owned. Now, I just won't worry about it.
    Blogging at Agabus.com

    Palm V > Vx > Clie Peg T615C > T3 > Clie TH55 > T3 > Treo 650 > Treo 700p & T3
  14. #34  
    Quote Originally Posted by noahas
    This is not entirely correct according to my agent (State Farm for 15 years). I got the PAP (personal articles policy) through them and the cost is I believe $1.50 per $100 annually (so $9.75), don't hold me to that as it might be up to $2.50 per $100 as I also got my $800 camera and $1500 tablet pc added as well and all 3 rates were between $1.50 - $2.50 per hundred. In addition, she told me the best part is that it will not affect your homeowners insurance and only that rider, so if worse comes to worst, they will cancel that rider, but claims will have no effect on the homeowners insurance. Also, it is a $0 deductible and covers everything except malfunction and intentional abuse. I figure between that coverage and the one year warranty which is doubled by my credit card, that gives me 2 years of warranty protection for everything except intentional damage for less than $30.
    As with most things, I guess it depends on which agent you talk to. My agent (30+ years) told me that even inquiries about making a claim, where no claim is made, are noted in your file and taken into consideration. (Also, see the article below.) The insurance industry has really cracked down in recent years. A friend who is an executive relatively high up in an insurance company also confirmed this. There is no hard and fast rule, but they do look at a lot of things when deciding whether to renew and one of the things they look at is claims made on any policy.

    This is from an October 1, 2005, NY Times Article:
    -----------------
    "But after 2000, when the stock market began its downturn, insurance companies could not rely as much on their investment income and capital gains to offset the losses, and needed to refocus on underwriting profitability, Mr. Diodato said.

    So insurers were, as he said, ''willing to eliminate policies that generated unprofitable results.''

    Consumer advocates say that another factor that led to the ''use it and lose it'' mentality is the greater use of databases that, much like a credit report, list a customer's claims history and how many claims have been made for a property.

    These databases are known as CLUE (Comprehensive Loss Underwriting Exchange) and A-PLUS (Automated Property Loss Underwriting System). Insurance companies use the databases all the time; consumer advocates say homeowners can -- and should -- obtain their reports to make sure their claims record is accurate.

    Simply inquiring about filing a claim can be noted on your record. The Insurance Information Institute notes that ''generally questions about coverage are not recorded in the database'' but that if a policyholder reports damage, even if no payment is made -- for whatever reason -- it will show up in the file."

    ------------------

    I'm just suggesting that this is something to add to the equation when deciding on using homeowner insurance for a relatively small item.
  15. #35  
    More from the same article about insurance claims:

    "And though many consumers, like the Baigels, think that filing two minor claims within a few years is nothing, Ms. Worters said insurance companies expect an average of one claim every seven years. ''So those who make more raise a red flag,'' she said. Sometimes that means the company will not renew a policy after a second claim; sometimes it will raise the rate.

    Those who can afford it should also avoid making any claims under $5,000. It is simply not worth the chance of a rate increase or losing a policy.

    For the longer term, consumers need to look beyond price when buying a policy and find out what they will really get for their money, according to Ms. Bach. Agents serve two masters, she said: the insurance company and the customer. So they should advise consumers if it is unwise to put in a certain claim.

    When shopping for a policy, do not be afraid to quiz the broker intensely.

    ''Give your agent a hypothetical,'' Ms. Bach said. ''O.K., Mr. Agent, if my pipe bursts next winter and my bathroom floods and the damage is $5,000, what will happen to my insurance? Will you jack up my rates or cancel? If they say they can't tell you, that's false. If you don't like their answer, go to another agent.''
  16. #36  
    Quote Originally Posted by adamsmark
    Hell, I was told that if I got angry and threw it against a brick wall, it's covered. That said, if I should throw it against a brick wall, I think I'll tell it was lost.
    Oh, I am sorry I read this, for many is the day I wind up to pitch a fastball with Treo in hand, only to pull back at the last second realizing how much more miserable I'd be if I went through with it... Now, maybe I will... Or, I could just give it to my 6 year-old for 5 minutes. That oughtta do it!
  17. #37  
    Quote Originally Posted by dbarrett5381
    What a lot of people don't understand though, is you paid 300$ for the phone, but you got a subsidized price. If you have to replace it, you will pay full retail of $649.
    Good point. I've always had the insurance ever since I dropped an early Motorola SmartTac phone in the toilet
  18. #38  
    A little over a month ago my Sprint 650 developed the headphone jack problem. I took my phone in and Sprint said they would replace it with a refurb in a week. I complained politely that a business phone cannot be down for a week. He went in the back and spoke to a manager who approved them giving me a brand new phone right on the spot with no deductible charged.

    So, yeah... I got the insurance two weeks later on the new 700P. :-)
  19. #39  
    Quote Originally Posted by dbarrett5381
    What a lot of people don't understand though, is you paid 300$ for the phone, but you got a subsidized price. If you have to replace it, you will pay full retail of $649.
    Quote Originally Posted by stuartr
    Good point. I've always had the insurance ever since I dropped an early Motorola SmartTac phone in the toilet
    wrong. in box on ebay from reputable sellers with no contract needed they $500 or so. they will just get cheaper.

    $649 is not the benefit.
    a) you will pay a deductable ($50).
    b) real repalcement cost is more like $500

    this creates net benefit of $450 maximum. on sprint each month this is reduced by more than $13 each month you have insurance. ($6 fee, >$1 average tax, $6.25 lost rebate credit).

    it still may well be worth it if you have an unusually above average risk of losing or ruining your handset. but after one year the benefit is well under $300.
  20. #40  
    Quote Originally Posted by awerry
    A little over a month ago my Sprint 650 developed the headphone jack problem. I took my phone in and Sprint said they would replace it with a refurb in a week. I complained politely that a business phone cannot be down for a week. He went in the back and spoke to a manager who approved them giving me a brand new phone right on the spot with no deductible charged.

    So, yeah... I got the insurance two weeks later on the new 700P. :-)
    Exact same happened for me about 2 months before I picked up the 700P. Problem with headset jack, which I expect to fail on the 700 as well, since I plug in a jack several times a day. Also, did not pay a deductible. However, with the replacment phone, I lost my $75 one year upgrade discount.
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