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  1. #21  
    I wished I had it on my 650 when it got _smashed_. I do have it on my 700.
  2. #22  
    Quote Originally Posted by t4l View Post
    Woof,

    If it were such a good deal (insurance), I doubt any company would be selling it. I'm sure insurance companies love you & your math (wait, maybe you're an insurance salesperson).

    The point is that you are paying for peace of mind. In the long run, insurance is a bad deal. Unless you lose phones quite often and/or you don't have the resources to spend when the unfortunate event happens, insurance is just a waste of money.
    I dont quite get this part. (bold) Fact is though the numbers dont lie.

    Actually I do sell insurance. At my cellular retail outlet, when I activate a new line of service for someone with new hardware, I encourage them to buy insurance if they have chosen a phone that costs more that $200 to replace outright.

    Whats wrong with buying peace of mind? Clearly your dont see any value in insurance and thats your choice. I hope for your kids sake you dont feel the same about life insurance.

    Funny thing though. You have a big problem paying an extra 6 bucks a month and getting piece of mind, but you'll drop a bunch on new phone. Different strokes for different folks i guess
  3. #23  
    Quote Originally Posted by Woof View Post
    I dont quite get this part. (bold) Fact is though the numbers dont lie.
    No, the numbers don't lie. What the numbers say is that the companies offering the insurance policy make a profit on the operation. That means that they pay out less in claims and administrative expenses associated with the plan than they collect in premiums. The evaluation you make regarding the worth of an insurance policy (Is the toal amount of premiums and replacement fees less than the cost of a new phone?) completely ignores the probability that you'll actually have to make a claim.

    Actually I do sell insurance. At my cellular retail outlet, when I activate a new line of service for someone with new hardware, I encourage them to buy insurance if they have chosen a phone that costs more that $200 to replace outright.
    How much do you make on each insurance policy you sell? Does Sprint underwrite the insurance policy themselves, or do they contract with a re-insurer who worries about the actuarial calculations and claims? If they re-insure, what's Sprint's cut of each policy underwritten by the insurer?

    Whats wrong with buying peace of mind? Clearly your dont see any value in insurance and thats your choice. I hope for your kids sake you dont feel the same about life insurance.
    Different people have different tolerances for risk in different situations. Obviously, a loss suffered to life or health is much more catastrophic than the loss of use of a cell phone. It strikes me as pretty ridiculous to speculate about someone's risk tolerance in the area of health/life based upon their risk tolerance when considering the loss of an electronic gizmo.

    Funny thing though. You have a big problem paying an extra 6 bucks a month and getting piece of mind, but you'll drop a bunch on new phone. Different strokes for different folks i guess
    The probability that he'll have to drop a bunch on a new phone doesn't necessarily justify the cost of the premium.
  4. #24  
    Ok I'll bite

    Quote Originally Posted by Matty87 View Post
    No, the numbers don't lie. What the numbers say is that the companies offering the insurance policy make a profit on the operation. That means that they pay out less in claims and administrative expenses associated with the plan than they collect in premiums. The evaluation you make regarding the worth of an insurance policy (Is the toal amount of premiums and replacement fees less than the cost of a new phone?) completely ignores the probability that you'll actually have to make a claim.
    All insurance works like that. If it didnt there would be no insurance. Probabilty isn't my issue. Sure you may not ever file a claim but I'd rather pay 6 bucks monthly for the priviledge of paying $50 to replace my $600 phone if anything happens to it. I personally dont relish the thought of buying a treo and then having it run over in a parking lot two weeks later and having to spend another $600. That actually happened and that makes the insurance well worth it to me. That was dec of 04 and if I add up the premiums I have paid I am still ahead. How is that a bad deal?

    How much do you make on each insurance policy you sell? Does Sprint underwrite the insurance policy themselves, or do they contract with a re-insurer who worries about the actuarial calculations and claims? If they re-insure, what's Sprint's cut of each policy underwritten by the insurer?
    Not a dime. We get nothing for selling insurance. I have verified this with Cricket, Sprint, Cingular and Verizon. No compensation for selling insurance. The carriers are not self-insured. Cricket and verizon use Assurion and Sprint and Cingular use Lockline.

    Different people have different tolerances for risk in different situations. Obviously, a loss suffered to life or health is much more catastrophic than the loss of use of a cell phone. It strikes me as pretty ridiculous to speculate about someone's risk tolerance in the area of health/life based upon their risk tolerance when considering the loss of an electronic gizmo.
    It was just a statement dude. He said he thinks insurance is a waste. I said I hope he doesnt feel that way about life insurance. In my experience though people feel one way or the other about insurance of any kind. They either believe in it or not.


    The probability that he'll have to drop a bunch on a new phone doesn't necessarily justify the cost of the premium.
    Since I doubt most users take the time to statistically calculate there phone's probability for damage, that is a matter of opinion.
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