There is a catch to the new trade in promo

[MarieDea]

I felt like the current trade in promotion had to have a catch. After working hard and asking a lot of questions, I finally figured it out. If you take advantage of the trade in deal and you do NOT purchase the insurance you might have a problem down the road. If your new phone is damaged, you will be responsible for paying off the remainder of the cost of the phone and your trade in discount will be over. You will literally have to pay off the remainder of a broken phone and buy a new phone. That doesn't qualify as a trade in in my book. Be careful and know what you're getting into.

[mama23dogs]

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@MarieDea wrote:

I felt like the current trade in promotion had to have a catch. After working hard and asking a lot of questions, I finally figured it out. If you take advantage of the trade in deal and you do NOT purchase the insurance you might have a problem down the road.

    That is true whenever you purchase a phone on installments, whether it is purchased through a promotion or not.  Personally I do not use insurance and have never needed insurance bad enough to purchase it. In over 20 years of owning a cell phones we’ve had one lost basic phone, one QWERTY phone chewed by a puppy, and one iPhone 5 that failed. And none of these cases did the replacement cost as much as the deductible and the premiums would have had I’ve been paying for insurance.

If your new phone is damaged, you will be responsible for paying off the remainder of the cost of the phone and your trade in discount will be over.

   Or you could just buy your own replacement. I know that’s a novel concept but you do not have to upgrade through the service provider. And since the installment loans are now 36 months long, it’s often cheaper to replace the phone on your own buying a used phone off of Swappa.  

You will literally have to pay off the remainder of a broken phone and buy a new phone. That doesn't qualify as a trade in in my book. Be careful and know what you're getting into.

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No, you don’t.   You can always purchase a phone directly from the manufacturer, without a Verizon Sim card finance it through the manufacture, or Buy a used version of the same model phone on Swappa and swap the SIM card.  
I had to do it with the iPhone 5.    If you bring your own device and swap the Sim card there is no charge whatsoever. And your credits for the promotion continue.