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  1.    #1  
    Thanks to user arc918, who instructed me to check with my Homeowners insurance company before signing up for Sprints TEP or BestBuy's product replacement plans. Sprint is $7/month ($100 deductible). BestBuy is $10/month (no deductible, doesn't cover complete immersion). My Homeowner's insurance will add the phone to my policy for a whopping $1.75/month (no deductible)!! My agent sent me the forms, and I've read all the fine print. The only thing not covered is the event in which my phone is damage as a direct result of war or detonation of a nuclear device!

    Do yourself a favor, forget TEP, call your insurance agent!
  2. #2  
    Your underwriter?

    Thanks for the idea....checking now.
  3. #3  
    Quote Originally Posted by Bradleycorn View Post
    Thanks to user arc918, who instructed me to check with my Homeowners insurance company before signing up for Sprints TEP or BestBuy's product replacement plans. Sprint is $7/month ($100 deductible). BestBuy is $10/month (no deductible, doesn't cover complete immersion). My Homeowner's insurance will add the phone to my policy for a whopping $1.75/month (no deductible)!! My agent sent me the forms, and I've read all the fine print. The only thing not covered is the event in which my phone is damage as a direct result of war or detonation of a nuclear device!

    Do yourself a favor, forget TEP, call your insurance agent!
    TEP doesn't just include insurance but also service at Sprint's stores. Also how long does your homeowner insurance take to replace? My assumption with it being an insurance company they'd either send you a check for the full replacement value, or what they deem as the fair market value to buy that phone used.
  4. lpapesh01's Avatar
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    #4  
    Thanks Bradleycorn. Looking into this one myself. I have been very pleased with my insurance compnay thus far and i am confident i will be able to find something of value here!
  5. migs's Avatar
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    #5  
    once you make your following first claim your premiums will go up I dont think its worth it.
  6. #6  
    Only problem i had was that i didn't pay enough for a phone. Had to be over 499. Doesn't matter what its worth but what you pay.

    Besides, i'm not sure i want to screw with home insurance going up because i put in a cheap phone claim.
  7.    #7  
    Quote Originally Posted by donatom3 View Post
    TEP doesn't just include insurance but also service at Sprint's stores. Also how long does your homeowner insurance take to replace? My assumption with it being an insurance company they'd either send you a check for the full replacement value, or what they deem as the fair market value to buy that phone used.
    My carrier allowed me to declare the price of the item. I declared it at $500 (which is the current no contract price on Amazon), so if I need to make a claim, they will cut me a check for $500.

    As for needing service at a sprint store .. if my phone is under warranty, then that service will be paid for. If it's not, I can just make a claim on my homeowners and get a new phone ... there's no need to worry about sprint service.

    For those worried about premiums going up if you make a claim, that is not the case. Well, my main homeowners insurance premiums will not go up anyway. If I want to insure the new phone the rate for that might go up a bit (to say $2.00 instead of $1.75), but it's still WAY cheaper than Sprint's TEP. It's actually a separate coverage (My insurer calls it "Personal Articles Coverage"). We've already got my wife's wedding ring on it, we are now going to add the phones. According to my carrier, you can really add anything of value to it that you want covered.

    Oh yeah, my carrier's coverage only applys in the US, so if I'm out of the country and something happens to the phone, I'm out of luck. But I'm out of the country maybe once every 5 years or so, so that's not a big deal for me. Could be for some though...
  8.    #8  
    Quote Originally Posted by cardfan View Post
    Only problem i had was that i didn't pay enough for a phone. Had to be over 499. Doesn't matter what its worth but what you pay.

    Besides, i'm not sure i want to screw with home insurance going up because i put in a cheap phone claim.
    Sorry Cardfan, coverage is only available for Cats fans!!! GO CATS!!!
  9. #9  
    I will be curious to see what happens when and if someone has to make a claim...... only reason I say that is because not all insurance policies are written equally (even in the same insurance company written by the same underwriter). Various things can effect policy, as well as what you are giong to actually get in return for your claim or how a claim will be honored.


    As to the comment above..... most policies depending on how they are written will net you a check not for 500, but for 500 minus the deductible as set in your policy for loss of property. As always YMMV depending on how the underwriter and company have written your policy. Also, MOST insurance companies DON'T cut checks as quickly as phones get replaced via TEP or in store exchange.



    I am far from saying using your homeowners is a bad idea, I just hope that everyone realizes that for the most part no 2 insurance policies are written equally.
  10.    #10  
    Agree with VWlover. I made sure to read all the fine print and ask my agent LOTS of questions before I added coverage for my phone, and I would suggest anyone else who considers it doing the same. In my case, it's a great situation becuase filing a claim will not affect my rate, and there is no deductible, they simply cut me a check for $500. It will probably take 6 - 8 weeks to get that check, but I can go ahead and purchase a phone with my own cash in the meantime. But as VWlover said, not all companies and policies are the same. Read the fine print and ask lots of questions.

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