Apple Care + or AT&T insurance?

Scott1012 · Oct 21, 2014

I got my AT&T 6+ gold 128 GB on launch day. I bought it with the AT&T Next program. I understand the price and differences between the two insurances.

My questions is knowing this phone is basically a lease for 12 months until I trade it in for the new phone next year, doesn't it make sense to take the AT&T insurance for $6.99 a month to insure for loss or theft which basically is "catastrophic insurance" just in case the phone is lost or stolen?

If the phone is stolen or lost, I am protected. If I take Apple Care +, I will have to pay for a new phone while still paying off the original phone on the Next program.

Which insurance would you take given my situation? I still am in the window to swap for Apple Care +.

Thanks

bradl · Oct 21, 2014

Scott1012 said:
I got my AT&T 6+ gold 128 GB on launch day. I bought it with the AT&T Next program. I understand the price and differences between the two insurances.

My questions is knowing this phone is basically a lease for 12 months until I trade it in for the new phone next year, doesn't it make sense to take the AT&T insurance for $6.99 a month to insure for loss or theft which basically is "catastrophic insurance" just in case the phone is lost or stolen?

If the phone is stolen or lost, I am protected. If I take Apple Care +, I will have to pay for a new phone while still paying off the original phone on the Next program.

Which insurance would you take given my situation? I still am in the window to swap for Apple Care +.

Thanks

I was told this when I went in to inquire about the new plans.

when you turn in the phone, they are expecting it to be flawless. So that way when you turn it in, they know that it is their phone that they are getting back for the trade.

Now, if you went with AppleCare+, you may get a refurbished phone back, should something happen. Depending on what caused it to be refurbished , ATT may not take the phone on trade.

I'd say to go with ATT's insurance, but to be honest, I'd get both if you could afford it.

BL.

Scott1012 · Oct 21, 2014

bradl said:
I was told this when I went in to inquire about the new plans.

when you turn in the phone, they are expecting it to be flawless. So that way when you turn it in, they know that it is their phone that they are getting back for the trade.

Now, if you went with AppleCare+, you may get a refurbished phone back, should something happen. Depending on what caused it to be refurbished , ATT may not take the phone on trade.

I'd say to go with ATT's insurance, but to be honest, I'd get both if you could afford it.

BL.

I can afford it but I hate to waste the money. To pay $99.00 for Apple Care + and $84.00 for AT&T insurance for a total of $183.00 a year seems awfully high. I wish I can take one that protects me for all situations.

It seems the only thing Apple Care + gets me is a cheaper screen replacement.

JayLenochiniMac · Oct 21, 2014

bradl said:
I was told this when I went in to inquire about the new plans.

when you turn in the phone, they are expecting it to be flawless. So that way when you turn it in, they know that it is their phone that they are getting back for the trade.

Now, if you went with AppleCare+, you may get a refurbished phone back, should something happen. Depending on what caused it to be refurbished , ATT may not take the phone on trade.

Sounds like some BS scare tactics that an AT&T rep told you.

ssl0408 · Oct 21, 2014

I'd probably go with the AT&T insurance. Honestly, I don't see why you need insurance on a phone to begin with, but I've never been impressed by Apple's offering.

Scott1012 · Oct 22, 2014

ssl0408 said:
I'd probably go with the AT&T insurance. Honestly, I don't see why you need insurance on a phone to begin with, but I've never been impressed by Apple's offering.

I agree. I am going to stay with AT&T insurance because what they are offering, in insurance parlance, is "catastrophic" insurance in the event of theft or loss. That is the only insurance that is relevant when "leasing" the phone bought through AT&T Next program. I must have the phone when I return it for a new one next year. AT&T covers if lost or stolen. Apple care is also good for one year if there are manufacturing malfunctions.

So, the only thing I get with Apple Care + is cheaper screen replacement than AT&T insurance. However, the trade off is that I get coverage worth $1000 if I lose the phone.

Seems like my analysis makes sense to stay with AT&T insurance coupled with complimentary one year regular Apple Care and not change/add Apple Care +.

Steve686 · Oct 22, 2014

ATT. Lost and stolen here in Florida is rampant.

Rayy42 · Oct 22, 2014

In my case I did AppleCare + and dropped AT&T Insurance

calvy · Oct 22, 2014

I'd love to be covered for loss and theft, but the $199 deductible seems kind of high. Perhaps it's just the price you pay for loss and theft coverage.

Also I like that if I needed something replaced because say I broke the screen, it would be much quicker to go to the Apple store and have them replace it for me, rather than waiting on AT&T to approve my claim and then mail me a replacement.

But I don't want to pay for both.

kwando · Oct 22, 2014

AT&T has a deductible plus your monthly fee. In the long run it's going to cost more.

Apple care is $99, no monthly fee. But they don't cover lost or stolen devices.

Scott1012 · Oct 22, 2014

kwando said:
AT&T has a deductible plus your monthly fee. In the long run it's going to cost more.

Apple care is $99, no monthly fee. But they don't cover lost or stolen devices.

Both insurance plans do not make any economic sense. They are for peace of mind. That is why the insurance companies make a profit.

However, if I chose to buy insurance (which i did), it just seems to make sense to protect against loss and theft. I have a case and a glass screen cover so I doubt the screen will break. None of my previous iPhones ever broke. My greatest vulnerability is loss/theft.

Given that, AT&T insurance has no upfront fee like Apple Care + which is $99.00. So, if I need insurance for one year being on the Next plan, AT&T costs $84.00 a year compared to Apple Care + which is $99.00 divided by 2 which equals $49.50 a year. So, the difference is an additional $34.50 a year for the AT&T plan which gives me the "catastrophic" insurance of loss/stolen compared to Apple Care +.

The more I think about it the more it makes sense to get AT&T insurance. I am paying $34.50 to protect a $949.00 phone which is not a bad deal even with the $199 deductible. If the phone is loss/stolen, I pay $199 rather than $949.00.

kepler20b · Oct 22, 2014

i got apple care once on my 2012 rMBP. I was worried that apple had pushed the technology too hard for the hardware and I could be saddled with issues down the road between the fans, battery, and gpu.

the gist is, I'll never buy applecare again. It's just unecessary unless you have the $$s to throw around.

rigormortis · Oct 23, 2014

applecare on a computer is great, cause it also covers your airport extreme and time capsule for 5 years

I've used apple care a lot. my mac minis have had the click of death once, and the optical drives apple uses on mac minis failed a couple times on me

i use square trade. they repaired my mac book air when i spilled water on it. I've used square trade so much they owe me a couple free warranties

the thing i don't like about applecare is that they won't take mail ins on mac minis.

renters insurance might be a better deal then AT&T insurance.

other companies like protect my bubble might be worth mentioning too

its pretty good assumption that you will drop your phone at least once and maybe break your screen, so i figure any kind of accidental damage plan is a necessity just like a good case.

i went to protect my bubble and found out they have a new plan. if you bust your existing phone you can still get a replacement phone and warranty for it, and they call it close call. doesn't say how much that costs!

Dandrews524 · Oct 23, 2014

as a former ATT customer care rep i would always recommend the ATT insurance when on the next program. i have seen too many people break or lose a new phone and still be on the hook for the $600+ in payments left. plus there is a declining deductible now.

eagleglen · Oct 23, 2014

I've chosen to go with ATT insurance since I think my biggest risk is loss or theft. My second most likely claim would be for a broken screen, and for the iPhone 6, Apple charges only $109 to repair, so almost idential to the initial cost of AC+. I also only keep my phone one year before upgrading, so the second year of AC+ would not get used.

Dandrews524 said:
as a former ATT customer care rep i would always recommend the ATT insurance when on the next program. i have seen too many people break or lose a new phone and still be on the hook for the $600+ in payments left. plus there is a declining deductible now.

Do you mind explaining what the declining deductable is?

pdxmatts · Oct 23, 2014

I went with ATT insurance. Peace of mind if lost or stolen and the declining deductable now for me is $99

Dandrews524 · Oct 23, 2014

eagleglen said:
Do you mind explaining what the declining deductable is?

The longer you have the phone, the less the deductible cost would be. It usually starts at $200 for newly released deivice. i believe after 6 months its $150 and a year its $99. Something along those lines.

pdxmatts · Oct 23, 2014

eagleglen said:
Do you mind explaining what the declining deductable is?

See this link and scroll down to declining deductable http://www.att.net/smartcontrols-MobileInsurance

eagleglen · Oct 23, 2014

pdxmatts said:
See this link and scroll down to declining deductable http://www.att.net/smartcontrols-MobileInsurance

Dandrews524 said:
The longer you have the phone, the less the deductible cost would be. It usually starts at $200 for newly released deivice. i believe after 6 months its $150 and a year its $99. Something along those lines.

Thanks for the info. I didn't know the deductable went down like that. I imagine since I've had the coverage for over a year with no claims, on my iPhone 5s, I'm already eligible for the $99 amount on my 6

Let's hope it's still not needed.

pdxmatts · Oct 23, 2014

eagleglen said:
Thanks for the info. I didn't know the deductable went down like that. I imagine since I've had the coverage for over a year with no claims, on my iPhone 5s, I'm already eligible for the $99 amount on my 6 Let's hope it's still not needed.

Go here and scroll down to what is my deductable? Just put in your number and today's date and it will tell you what your deductable is. Just verified that my line that has had insurance since my i5 and now is for an i6 is still $99

maflynn · Oct 23, 2014

I opted of the applecare+, mostly because I purchased the phone at apple. Now that I own applecare+, I don't feel like paying for more extended coverage.

eagleglen · Oct 23, 2014

pdxmatts said:
Go here and scroll down to what is my deductable? Just put in your number and today's date and it will tell you what your deductable is. Just verified that my line that has had insurance since my i5 and now is for an i6 is still $99

Yup, that link worked. My i6 is covered and the deductible will be $99. Very helpful info. Thanks again.

willmtaylor · Oct 23, 2014

Scott1012 said:
Both insurance plans do not make any economic sense. They are for peace of mind. That is why the insurance companies make a profit.

However, if I chose to buy insurance (which i did), it just seems to make sense to protect against loss and theft. I have a case and a glass screen cover so I doubt the screen will break. None of my previous iPhones ever broke. My greatest vulnerability is loss/theft.

Given that, AT&T insurance has no upfront fee like Apple Care + which is $99.00. So, if I need insurance for one year being on the Next plan, AT&T costs $84.00 a year compared to Apple Care + which is $99.00 divided by 2 which equals $49.50 a year. So, the difference is an additional $34.50 a year for the AT&T plan which gives me the "catastrophic" insurance of loss/stolen compared to Apple Care +.

The more I think about it the more it makes sense to get AT&T insurance. I am paying $34.50 to protect a $949.00 phone which is not a bad deal even with the $199 deductible. If the phone is loss/stolen, I pay $199 rather than $949.00.

Sounds like you're mind is made up then.

Steve686 · Oct 23, 2014

Scott1012 said:
Both insurance plans do not make any economic sense. They are for peace of mind. That is why the insurance companies make a profit.

However, if I chose to buy insurance (which i did), it just seems to make sense to protect against loss and theft. I have a case and a glass screen cover so I doubt the screen will break. None of my previous iPhones ever broke. My greatest vulnerability is loss/theft.

Given that, AT&T insurance has no upfront fee like Apple Care + which is $99.00. So, if I need insurance for one year being on the Next plan, AT&T costs $84.00 a year compared to Apple Care + which is $99.00 divided by 2 which equals $49.50 a year. So, the difference is an additional $34.50 a year for the AT&T plan which gives me the "catastrophic" insurance of loss/stolen compared to Apple Care +.

The more I think about it the more it makes sense to get AT&T insurance. I am paying $34.50 to protect a $949.00 phone which is not a bad deal even with the $199 deductible. If the phone is loss/stolen, I pay $199 rather than $949.00.

NOT insuring a $950 phone against theft/loss is what doesn't make sense.

deeddawg · Oct 23, 2014

Scott1012 said:
I must have the phone when I return it for a new one next year.

You realize you don't have to trade in the phone if you don't want to, right? You can simply either finish out the payments and keep the phone (if you don't want to upgrade), or pay it off early whenever you want and then sell it on your own or trade it in elsewhere and start a new Next finance plan with another phone.

Steve686 said:
NOT insuring a $950 phone against theft/loss is what doesn't make sense.

No. It really depends on often you lose your phone combined with how impactful it would be to you buy a replacement .

If you're forgetful and lose stuff often or you're in an environment where there's a substantial chance of having you phone stolen, then yes the insurance makes sense. Otherwise it may not.

Always remember; insurance companies are in the business to make money. On average they take in more money than they pay out, else they wouldn't exist. On small stuff that's not life changing, it often doesn't make financial sense unless you're likely to "beat the odds".

Apple Care + or AT&T insurance?

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