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Does it really "pay" to have insurance on your phone?

Hello all, I am putting this out there in case there are others who have run into the scenario of submitting a warranty claim versus a repair request that may incur a deductible charge. Does it really "pay" to have the insurance for manufacturer assessment/ repairs? This is something that Verizon strongly suggests you buy when purchasing a new phone. It is my experience that like most insurance companies "as long as you don't file a claim" it is a good thing to have............. I just had an unpleasant issue with a brand new iPhone 6S that started to have display issues and was told by an in-store rep to send it in for a warranty claim since it is covered by insurance. Not surprisingly I was then emailed information with a $329 charge by Verizon stating that the phone had problems deemed non-repairable...... Seems to me that insurance is a waste of time and only good if you don't use it................. After spending almost an hour on the phone dealing with Asurion, then Verizon, then Asurion, then back to Verizon, my patience did become somewhat transparent. At the end of the call I was told that their is no "wiggle room" for any assessments made by Verizon's repair department. Just wondering...............................

Any and all responses are welcomed.

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Re: Does it really "pay" to have insurance on your phone?
Customer Support

I want to first apologize for the experience you recently had with us, Orale. I know I would be shocked too if I received an unexpected charge. Let’s get to the bottom of this. May I ask if your phone issue was considered physical or liquid damage? You mentioned a warranty claim, so I want to ensure I am on the same page.

To clarify, the phone’s warranty and insurance policy are two separate things. The warranty covers your phone up to 1 year if there are any mechanical defects that can’t be fixed (void if there is any damage). The insurance would cover your phone for any lost/stolen and/or physical/liquid damage. We also have Total equipment that bundles the extended warranty (after 1 year expires) with insurance.

To answer your question, it really depends on your comfort level if you think insurance and/or the extended warranty is worth the price tag. Phones can be a very expensive investment, so it is always recommended to have some sort of coverage. What’s your back up plan if you do start to have issues, lose the phone, or drop it in water? I would calculate how much you pay each month plus your insurance deductible to see if it is more or less than paying full retail value of a phone if something does happen. Keep in mind warranty replacements are free of charge as long as there is no physical or liquid damage on the phone. You can find more details about this here: . Please let us know if you have any further questions or concerns.

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If my response answered your question please click the 'Correct Answer' button under my response. This ensures others can benefit from our conversation. Thanks in advance for your help with this!

Re: Does it really "pay" to have insurance on your phone?

For one thing, Verizon Wireless doesn't repair phones. Two, you don't put in a warranty claim. You request a warranty replacement. After receiving the certified pre-owned device, you transfer your information from the old phone to the replacement and then you send in the old phone to the Warranty processing center. If they deem the device a damaged for any reason outside of what the warranty covers, you are accessed a damage fee.

For a insurance claim for items beyond the warranty, you have to submit a claim through Asurion and pay the deductible, then the insurance company sends you a replacement device. Once you receive the device and transfer your information, you send the old phone to Asurion.

I'm most definitely NOT a VZW employee. If a post answered your question, please mark it as the answer.

Re: Does it really "pay" to have insurance on your phone?

The $329 sounds like Apple's fee for a device no longer under warranty (either because it's over a year old and you didn't have AppleCare+ or because damage to the device occurred that is not covered under warranty). Wasn't aware that Verizon charged the same amount...especially since they don't actually do repairs. Were you told what the non-repairable issue was? Liquid damage for example would void out the warranty unless you have AppleCare+ or you have Asurion. And if you have either the replacement price would NOT be $329. It would be the deductible. Not sure what Ausurions is but if I'm not mistaken AppleCare+ is either $99 or $129. So first you need to verify what coverage if any you actually have. AppleCare+ (meaning you paid a fixed amount upfront for the coverage unless you purchased from somewhere like Best Buy that gives you a monthly payment option payable to them by auto-pay from a credit or debit card) or Ausurion. But again...if you're being told $329 it sounds like you had neither and your issue may be tied to something that voided the manufacturer warranty. sounds like you were dealing with Apple directly via either the Apple Store or Apple Support where you mailed your damaged device in to them. Again, I may be wrong about that but the $329 isn't a insurance deductible from AppleCare+ or Asurion.

Re: Does it really "pay" to have insurance on your phone?
Sr. Leader
Sr. Leader

Orale wrote:

Seems to me that insurance is a waste of time

For phones, this would be my opinion. The only time I ever got the insurance was for the very first smartphone I ever purchased and I dropped it after only 1 month thinking it was STILL a waste of money. In my 20+ years of cell phone usage, I only had 1 occasion where I would have actually needed to file a claim. Without insurance, I simply re-activated an old phone I had. I normally have many to choose from which are still in perfect working order, even if they are a generation or 2 removed from the currently top of the line phones.

In those 20+ years of NOT purchasing the insurance on my phones(10+ years with only 2 lines and 5-10 years with 4 lines), I have saved AT LEAST $5000-$10,000 in premiums which can purchase a LOT of phones if I need them.

Of course, many people are much more careless with their devices than I am. I know many people who can't go a single year without cracking the screen on their phone. For THESE people, I can understand why insurance is a must. I can't imagine how they do that, though, as I have NEVER cracked a screen(except one time when falling on the ice and phone was in my back pocket) and I RARELY use a case with my devices OR have a screen protector on them and don't have a problem with this. I simply carry my phone in my front pocket when I am not using it and don't put any keys/change in the same pocket.

I guess my take on it is for SOME people phone insurance is a good idea. For others, it is a waste of money. For the most part, those who need it know that they need it.

Re: Does it really "pay" to have insurance on your phone?

OMG. What a scam is this, same thing happen wit me I have paid Asurion insura6since I got the Samsung so plus, the phone had the problem with sound that a Verizon tech couldn't fix, she made the claim the same day.  And  soon I received the replaced and I send mine back now I had a message that said they'll applied at my account $299.00 share of them they state that the phone has a physical damage which is untrue. My phone only huge problem was the sound only the speaker worked.... I will love to contacted an attorney and file a suit because that's dishonest shame of Verizon I can wait to leave this sneaky company. Please suggested what to do if you can.. this is a nightmare because I'm really having healthy problems and with this I feel worse, I paying for 18 months I believed $15.00 per month with a list decided I should pay only $199.0] and those heartless people are asking for $299.00 I can wait for a suit law.againgst those scams beside they said that mi phone will not be returned. I CAN'T BELIEVE THIS .