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  1. #21  
    Quote Originally Posted by GoodNamesRTaken
    I believe it's also a $50 deductible + $10 "administrative fee" + the right to give you a refurbished phone instead of a new one (which probably costs lockline less half the price of a new phone).

    So, after a year, you are really paying about $120 for the right to get a phone with a fair market value of about $200.

    Honestly, no finanancial planner on the planet would call that "prudent", but I guess you can't put a real price on perceived value. The "only $5 a month!" thing isn't exactly the whole story ... but if it gives you piece of mind anyway, I suppose it's worth it.
    well first of all - you are saving $80 with your math, so it's still not like you're losing money on it

    second of all, is the $10 administrative fee thing new? It wasn't there when I did it (then again this was back when it was $30)
    Palm Pilot 1000 -> Sprint TP-3000 -> Treo 300 -> Treo 650
  2. #22  
    Quote Originally Posted by CySurflex
    well first of all - you are saving $80 with your math, so it's still not like you're losing money on it
    True, but spending $120 to insure a $200 product is *usually* considered a horrendous, if not unheard of, insurance ration.


    Not saying the you won't make $80 on the deal, but why not take that money to the BlackJack table instead? It's a more enjoyable gamble.

    Would you pay $120,000/year to insure your $200,000 house, or $30,000/year to insure your $50,000 car? I suppose some would, but most reasonable folks probably wouldn't.


    And of course, if you manage to keep your phone in working condition for two years, you just bought the refurbed phone straight out. Or you have a nice amount of money to put toward a brand spanking new phone, which combined with the end of contract discount, may be darn near free.


    Quote Originally Posted by CySurflex
    second of all, is the $10 administrative fee thing new? It wasn't there when I did it (then again this was back when it was $30)

    I think it's new, and I think it depends on carrier.

    As if the indignity of the insurance ratio wasn't enough, they sometimes charge you to make a claim.

    I can't help but imagine these lockline guys in a room laughing their asses of and high-fiving each other everytime they issue a "policy", but hey, capitalism needs people to be capitalized on in order to survive.
  3. #23  
    Also you can just as easily drop your phone in month #2 vrs 12 and save even more. Most importantly for me, though, is the peace of mind in not having to treat the thing like a raw egg all the time. Well worth it for me. Also the phone from lockline (as opposed to buying a used one from ebay or whereever) has a full 1-year warranty on it no matter how old your old phone was.
  4. #24  
    Oh, and you also have a manufacturers warranty during that first year.


    "Extended Warranty, how could I lose??!!" - Homer Simpson
  5. #25  
    Quote Originally Posted by midmofan
    Also you can just as easily drop your phone in month #2 vrs 12 and save even more. Most importantly for me, though, is the peace of mind in not having to treat the thing like a raw egg all the time. Well worth it for me. Also the phone from lockline (as opposed to buying a used one from ebay or whereever) has a full 1-year warranty on it no matter how old your old phone was.
    Yeah, or you can drop it in month 18 and lose even more., and on and on. And who knows what was wrong with your refurb, and loclkine will only replace it twice (so that refurb better be in decent shape).

    Hey, if it gives you peace of mind ... the more power to you.

    Personally, what i would do ... is put $10/month in a drawer, and see how much I had if I dropped it.

    Yes it's a risk, but insurance is all about risk as well. The risk/rewad on lockline is just too out of whack for my tastes.

    A 5% annual insurance ratio is usually the maximim rule of thumb. We are talking about 50%+ here.

    I'd buy a good Titanium case, and squirrel the lockline money away (be sure to start off the pot with the $60 dedeuctible & fees). Then, if you ended up not needing it ... you would stil have your money. If you end up not needing lockine, well, the money is gone anyway.

    Insurance is gambling by another name. Not have insurance is gambling as well.

    There are certain risk/reward scenarious that you have to consider, but like I said, a 1.2:1 annual ratio in the insurance industry is an underwriters wet dream.

    Personally, I don't want to be the porno that dampens those sheets.
  6. #26  
    Quote Originally Posted by GoodNamesRTaken
    True, but spending $120 to insure a $200 product is *usually* considered a horrendous, if not unheard of, insurance ration.


    Not saying the you won't make $80 on the deal, but why not take that money to the BlackJack table instead? It's a more enjoyable gamble.

    Would you pay $120,000/year to insure your $200,000 house, or $30,000/year to insure your $50,000 car? I suppose some would, but most reasonable folks probably wouldn't.


    And of course, if you manage to keep your phone in working condition for two years, you just bought the refurbed phone straight out. Or you have a nice amount of money to put toward a brand spanking new phone, which combined with the end of contract discount, may be darn near free.





    I think it's new, and I think it depends on carrier.

    As if the indignity of the insurance ratio wasn't enough, they sometimes charge you to make a claim.

    I can't help but imagine these lockline guys in a room laughing their asses of and high-fiving each other everytime they issue a "policy", but hey, capitalism needs people to be capitalized on in order to survive.
    Hmmm....I paid $2,500 for a '94 Corolla, but my insurance is just a little under $2,000/yr (only liability, doesn't cover the car if it's my fault). I think $60/yr, plus $35 deductible (that's what it was last time I checked) for a refurbished phone ain't bad. Hopefully if I drop/lose the 650, I can get a Hardware B revision. You can't lose with insurance, unless you're with Cingular. Then you don't have the option at all.
  7. #27  
    True, but spending $120 to insure a $200 product is *usually* considered a horrendous, if not unheard of, insurance ration.


    Not saying the you won't make $80 on the deal, but why not take that money to the BlackJack table instead? It's a more enjoyable gamble.

    Would you pay $120,000/year to insure your $200,000 house, or $30,000/year to insure your $50,000 car? I suppose some would, but most reasonable folks probably wouldn't.
    you're right. I was not thinking clearly with my previous post - the math makes sense IF you have to make a claim but insurance is all about the IF... You're paying for the risk factor, and if you're paying a lot for something that has a low risk factor, you're losing money, insurance wise.



    Hmmm....I paid $2,500 for a '94 Corolla, but my insurance is just a little under $2,000/yr (only liability, doesn't cover the car if it's my fault). I think $60/yr, plus $35 deductible (that's what it was last time I checked) for a refurbished phone ain't bad. Hopefully if I drop/lose the 650, I can get a Hardware B revision. You can't lose with insurance, unless you're with Cingular. Then you don't have the option at all.
    but again that goes to what I was saying, the insurance is about the risk..and you even said, you're not even insuring the value of the car - in your example you're insuring the risk/chance that you will get in an accident and the cost of the medical bills, so it has nothing to do with the value of the car. With the Treo you are insuring the value of the Treo.

    I've heard that there is an insurance company in London that will insure anything - like if you want to insure that your long finger nails will never break, they will calculate the odds and give you a premium based on how much you want to be paid if that does happen. If you want $100,000 if your nails break and they think there is a 75% chance that it will break, your premium will be $75,000.

    (see, now I'm thinking more clearly)
    Palm Pilot 1000 -> Sprint TP-3000 -> Treo 300 -> Treo 650
  8. #28  
    Quote Originally Posted by CySurflex
    if you're paying a lot for something that has a low risk factor, you're losing money, insurance wise.

    Well thats the key, for a lot of users, myself included, it is not low-risk. I am not the most coordinated of humans and am always running around airports and taxis and courtrooms where i can easily misplace or drop my $600 toy, and the warrenty do not cover such stupidity!

    So for a lot of us, breaking or losing your treo IS a high risk issue. If I break it or lose it I am stuck with either buying a new one at full price or buying a used one of ebay for nearly full price without a warrenty or knowing what has been done to it. (Remember, until the 650 came out 600s were still selling not THAT much off of list if they were in good cosmetic shape and had the accesories and such.)

    When I used lockline for my drop kicked 300, I did get a refurb unit, but it looked like new, had been tested and came with a 1 year warranty on defects, which had expired on my old 300. So given what I consider MY high risk situation it was sure worth it to me.
  9. #29  
    Quote Originally Posted by grndslm
    Hmmm....I paid $2,500 for a '94 Corolla, but my insurance is just a little under $2,000/yr (only liability, doesn't cover the car if it's my fault).
    Dude!!!!!

    WTF??

    Either change insurance carriers or stop drinking and driving.

    But, what you are comparing is not the same. You are getting a cumulative $80,000 per year (this will vary by your state's requirements) in collision/property/bodily injury LIABILITY coverage, not coverage to replace your car.

    This would be like insuring you against injuring someone's lawsuit should you throw your Treo at someone's head and put them in a coma. Apples and Oranges.

    You're actually getting tens of thousands of dollars of coverage for that $2,000 ... and even then, you're getting royally screwed. Most people pay $300-$1000 tops for liability only.



    Quote Originally Posted by grndslm
    I think $60/yr, plus $35 deductible (that's what it was last time I checked) for a refurbished phone ain't bad. Hopefully if I drop/lose the 650, I can get a Hardware B revision. You can't lose with insurance, unless you're with Cingular. Then you don't have the option at all.
    Yes, yes you CAN lose with insurance. If you do not make a claim, you are out the full premium. And there are many stories of people getting pretty rotten replacement refurbed (read: Broken in some manner) phones. And if depreciation exceeds premiums paid, you lose. Etc, etc.

    There are more ways to lose with insurance, than to win.

    That's why it's such a large industry.

    If you always won - by simple logic the insurance industry could not exist.
  10. #30  
    Quote Originally Posted by midmofan
    Well thats the key, for a lot of users, myself included, it is not low-risk. I am not the most coordinated of humans and am always running around airports and taxis and courtrooms where i can easily misplace or drop my $600 toy, and the warrenty do not cover such stupidity!

    So for a lot of us, breaking or losing your treo IS a high risk issue. If I break it or lose it I am stuck with either buying a new one at full price or buying a used one of ebay for nearly full price without a warrenty or knowing what has been done to it. (Remember, until the 650 came out 600s were still selling not THAT much off of list if they were in good cosmetic shape and had the accesories and such.)

    When I used lockline for my drop kicked 300, I did get a refurb unit, but it looked like new, had been tested and came with a 1 year warranty on defects, which had expired on my old 300. So given what I consider MY high risk situation it was sure worth it to me.
    This makes sense, but I always looked at it differently.

    I always figured that if you could afford to insure a $200 device for $180 (assuming 2 years premiums and device depreciation), then you could afford to straight out buy a new phone.

    Perhaps I was wrong, but if you are paying premiums that steep with deductible's that high, I wouldn't have you pegged as a person that would be hard pressed to shell out for a new device.
  11. #31  
    And they wonder why there's such a high rate of insurance fraud when it comes to lockline. Paying that much for insurance makes you feel obligated to have your phone replaced twice a year.
    It has turned into a sort of "technology assurance program" where you're guranteed an upgrade ever 6 months.
  12. #32  
    Does lockline have the 650 in stock? Can someone please let me know.
    TIA
  13. #33  
    Quote Originally Posted by GoodNamesRTaken
    Dude!!!!!

    WTF??

    Either change insurance carriers or stop drinking and driving.

    But, what you are comparing is not the same. You are getting a cumulative $80,000 per year (this will vary by your state's requirements) in collision/property/bodily injury LIABILITY coverage, not coverage to replace your car.

    This would be like insuring you against injuring someone's lawsuit should you throw your Treo at someone's head and put them in a coma. Apples and Oranges.

    You're actually getting tens of thousands of dollars of coverage for that $2,000 ... and even then, you're getting royally screwed. Most people pay $300-$1000 tops for liability only.

    Yes, yes you CAN lose with insurance. If you do not make a claim, you are out the full premium. And there are many stories of people getting pretty rotten replacement refurbed (read: Broken in some manner) phones. And if depreciation exceeds premiums paid, you lose. Etc, etc.

    There are more ways to lose with insurance, than to win.

    That's why it's such a large industry.

    If you always won - by simple logic the insurance industry could not exist.
    Yea, I dunno why I brought up the whole liability part of my car insurance when it wasn't really related in any way. That was just the first thing that popped into my head about bull**** insurance. BTW, it's so high because I'm nineteen years old and a guy (I guess)...but my mom has the highest liability you're capable of...hundreds of thousands of dollars worth (she's uber paranoid). To tell you the truth, if it were legal to not have insurance in my state, I wouldn't have it....but a $1,000 non-insured driver fine is a pretty good deterrent.

    Of course you can't always win with insurance, but it sure does seem worth it to a careless teenager that maxes out what lock/line has to offer him. If I had the option, a phone that I take in and out of my pocket multiple times every day is THE ONLY thing I'd actually pay an insurance premium for.
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