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Verizon Protection Plan vs. Starting your own device fund
MikeB92
Member
  • I pay $32/month ($384/year) to have protection on my devices.
  • A month after owning my phone (back in 2018) it dropped onto linoleum and the Google Pixel 2 has a glass like backing on the top half of the back of the phone. The drop spidered the glass but caused no structural damage and there were no dents of any kind on the aluminum framing, merely cosmetic, I continue on with life for 2 years and the phone works perfectly during this time.
  • January of 2020 my phone dropped off a coffee table and onto carpet (with a case on it) and the phone became completely unresponsive. I call Verizon and spend 3 hours getting bounced between them and Asurion for who needs to pay for the phone. I talked to 2-3 customer service representatives from each company, the whole time they're trying to decide if the physical damage suffered TWO YEARS AGO played a role in it breaking now. Eventually  Asurion schedules me for a repair (over a 2 hours away round-trip to Flint, MI.), they replace the motherboard and send me on my way. This means I spent over 5 hours coordinating something that should take minutes and that I pay almost $400/year for.
  • Fast forward to this August 2020. I’m already on the edge of quitting Verizon because the bills keep increasing and the jet pack speeds are slow and unreliable. My phone drops off the same coffee table onto the same carpet with the same case and the phone is unresponsive again.
    • I spend another 2 hours getting ping ponged between Verizon/Asurion, and of course neither one wants to pay for it (even though I pay $384/year for this protection). I see all of this coming like a slow car crash as I know they’re going to point fingers at the 2 year old cracked glass on the back of the phone. I get the pleasure of explaining all of this four times to 2 different representatives from each company, and eventually I end up in Asurion’s lap AGAIN.
    • But this time, they tell me I need to pay $150 insurance deductible. I look up the phone and Walmart has the pixel 2 available for $130 (among other places, refurbished ones are around $80)
    • I tell explain all of this to a Verizon customer service representative and all I got was that it will be looked into. It's now February 2021 and I never heard a thing (shocking, I know).
    • So I've been forced to go back to my old Pixel 1  and then I asked myself, "Why do I even pay for the protection plan?? I should just put $32/month in savings and when something breaks I’ll use my own money and I won't be charged a deductible that's worth more than the phone".
  • After all of this I cancelled all my protection plans on my devices and my bill dropped considerably (I highly recommend it). I took that extra money and started my own "protection fund". I would highly discourage anyone from using the Verizon protection plan. They wouldn't offer it if it didn't make them money in the long run and this story is exactly why.
  • TLDR; put away $20-$30 month in your own fund instead of using the protection plan, I promise you'll save more money and all that time on the phone getting transferred back and forth from Verizon to Asurion.
Re: Verizon Protection Plan vs. Starting your own device fund
vzw_customer_support
Customer Support

Hello there MikeB92 and thank you for bringing this to our attention. We are concerned to learn that you have had this experience and we appreciate your feedback. Seeing as many times as the phone has fallen from the same location and then having issues after would concern me as well. We are here to help if you are continuing to experience issues with your device as well as your Jetpack as making sure you have the service you need is important to us.

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Re: Verizon Protection Plan vs. Starting your own device fund
9wood
Sr. Member

My previous experience with asurion years ago learned the hard way they will do nothing get told basically oops nothing we can do or try to get a exchange or refund after the time for that is gone by the way as for Verizon's plan not used but as you experienced they just bounce you to asurion

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Re: Verizon Protection Plan vs. Starting your own device fund
Tigerstep
Sr. Member

Maybe because Verizon isn't an insurance company, that's why you get "bounced" to Asurion. The only thing Verizon handles is warranty if device is undamaged.

Asurion itself I wouldn't bother with per OP. My S20 is fine, my LG V30 still in one piece, Nexus 6P before that as well. I keep a case on my phones and am careful.

Insurance has a place for those weird parents that give their kids top end iPhones.

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Re: Verizon Protection Plan vs. Starting your own device fund
DMathews1
Novice

Having insurance on your phone is not unlike any other insurance...  you're paying an amount to avoid a future risk, period.  If you are willing to absorb that risk since you plan on self-insuring, great!  

I also have an S20+ and I pay $7 month for insurance.  I'm  probably more careful than most with my phone; but for the first year or two, I choose to pay Asurion their fee.   If my phone, is lost, stolen or broke, I pay  my deductible and get a new replacement phone.  Eventually, when the cost of a replacement phone doesn't warrant paying insurance, I'll stop paying it. 

I too had an instance where the back of my S8+ broke when dropped onto a tile bathroom floor... shattering the back panel  I called Asurion and got a replacement phone within 24 hours... try that compared to dealing with Samsung!  You might wait 2 weeks to get a replacement phone from Samsung and/or a phone back from their "inefficient repair center".   Deciding on insurance is all based on risk tolerance....

Since you have 3 or more phones that you're paying insurance on, maybe it makes sense to self-insure; but that would NOT be true it one or more of your phone users are in college or high school... good luck on them not breaking their phones... Btw, something sounds awfully weird that dropping your phone from a coffee table (what's that 2 feet drop?) inside a case onto a carpet causes your phone to shatter?.... I occasionally drop my s20+  from about that height in a Speck case onto carpeted flooring and it's just like new...  Maybe you just got some bad luck.

Anyway, good luck on what you decide upon re: insurance... and there's no question that certain companies' customer service has gone downhill....  Verizon used to be among the very best;  unfortunately, now they are among the worst...  and if one decides to use Verizon, they need to accept the woeful Verizon customer service that goes along with their plans.