Sprint to Launch Total Equipment Protection Plan for iPhone on January 25

Discussion in 'iOS Blog Discussion' started by MacRumors, Jan 17, 2013.

  1. macrumors bot


    Apr 12, 2001

    Engadget reports that Sprint will finally begin offering its Total Equipment Protection (TEP) plan for the iPhone beginning January 25. The TEP plan offers coverage not only for device failures that occur outside of Apple's standard warranty but also loss, theft, and damage.

    The TEP plan consists of two parts, an $11 monthly fee for the service and then a significant $150-$200 deductible for cases where the phone requires replacement due to loss, theft, or physical damage. Consumers have 30 days from the date of purchase of their device in which to enroll in the program.

    AT&T offers a similar program, although it costs $6.99 per month with a $199 deductible for all iPhone, iPad, and iPad mini models. Verizon's Total Equipment Coverage carries a special higher rate for iPhone compared to other devices, with the monthly fee set at $9.99 and deductibles ranging from $169-$199 depending on model.

    Article Link: Sprint to Launch Total Equipment Protection Plan for iPhone on January 25
  2. macrumors newbie

    Mar 30, 2009
    PA, USA
    Ok, I don't get it... AppleCare+ is $99 plus $49 for each of up to 2 replacement iPhones.
    Why are people using these outrageous carrier plans?
  3. macrumors regular


    May 1, 2012
    Athens, GA
    Exactly! AT&T has their own "protection plan," but I would rather have AppleCare+ myself :) After all, Apple is the company that makes and fixes my phone. Why would I expect a carrier to do the same? Thats like asking Comcast to fix my TV if it breaks. That doesnt make any sense?

    If someone can explain this to me, by all means, I'd love to know :)
  4. macrumors regular

    Feb 25, 2012
    Any of the carriers insurance plans are a rip off. If you don't want to get AppleCare fine, but even without it apple will replace a broken out of warranty iphone for a flat fee. $149 for iPhone 4 and older, $199 for a 4s and $229 for a 5. Why would you pay $11 a month to pay the same deductible as the apple store charges for a new phone? The only benefit the carriers offer is if the phone is lost or stolen, but if you haven't enabled Find My iPhone by now you're an idiot and aren't responsible enough to have a $600+ phone.

  5. macrumors regular


    May 1, 2012
    Athens, GA
    Pretty much! :)
  6. macrumors member

    Oct 25, 2011
    Yeah, because Find My iPhone is foolproof lol

    With TEP, even after the Apple Warranty is out, Sprint will replace the phone for free if the problem is a manufacturer defect.
  7. macrumors 68000

    Oct 23, 2003
    Brunswick, MD
    I agree ....

    But I *think* these things are often purchased by businesses, simply because it's easier to place the cost under the "telecommunications" part of their budget than to have it eat away at part of their equipment budget.

    Economically, they don't really make the most sense, in and of themselves.

  8. macrumors 6502a

    Aug 4, 2007
  9. avanpelt, Jan 17, 2013
    Last edited: Jan 17, 2013

    macrumors 65816

    Jun 2, 2010
    Ok, but doesn't AppleCare+ cover the phone for two years from the date of purchase against the same defects?

    If anything happens to my phone after my two year contract is up, I'm either using it as an excuse to get a new subsidized handset or I'm switching carriers. These carrier warranties don't make any sense when it comes to Apple products. The carriers are just trying to take advantage of uninformed consumers who blindly walk into a carrier store and say they want an iPhone and who haven't done any research about what Apple provides in terms of extended warranty.

    I'm sure the carriers manage to sucker quite a few people in with these warranty gimmicks. Sprint didn't add the option because it "knows accidents happen" and wants to look out for their customers. Sprint added the option because they ran the numbers and it was apparent that warranty sales would be a good source of revenue from uninformed iPhone buyers.

    Even in loss and theft cases, total up what you've paid for the insurance for, say, a year and a half. If the phone gets stolen 19 months after you bought it, you likely would've been better off saving the money you gave to Sprint every month especially when you couple that with the $150-$200 deductible, it really doesn't make sense. Save that money and use it to pay the ETF to get away from Sprint!
  10. macrumors regular

    Mar 30, 2012
  11. macrumors 6502a


    Sep 7, 2011
    Saint Louis, MO
    The only upside i see to any of these carrier plans is that it covers theft and loss.

    If you damage your iPhone out of warranty you go to the apple store and pay out of warranty replacement cost which last time i checked was the same as buying the phone with a new contract. So to replace an iPhone 5 if you broke it out of warranty would be $199.

    Scams for money, thats it.
  12. macrumors 68000


    Jun 21, 2007
    On The Interweb Thingy!
    $132 a year...doesn't exactly sound free to me.
  13. macrumors 68020


    May 9, 2008
    AppleCare+ won't give you a replacement iPhone for $49 if you lose it.

    No, a better analogy would be 'why do I need homeowners' insurance if I have an accidental damage warranty on my TV?'.

    The insurance/the carrier's protection plan provides protection against theft or loss. The accidental damage warranty/AppleCare+ provides protection against manufacturer's defects and any damage you cause on the product.

    Right, because Find My iPhone will be so useful if the thief turns off the phone, pulls out the SIM card, turns on airplane mode or restores the phone.

    And even if you track it down, what will you do if FMI shows the phone as being in an apartment building? Are you going to knock on every single door and ask everyone, hoping for an honest answer? (hint: thieves usually aren't going to tell you what they stole)

    That's a whole lot more useful than an accidental damage warranty when it comes to iPhones. $700 for a new iPhone if you lose it, only $200 for an OOW replacement.
  14. macrumors 6502a


    Sep 6, 2006
    Atlanta, GA
    Go tell Apple you lost your iPhone and want a replacement.
  15. macrumors 6502


    Nov 15, 2010
    Or, for the $430 that plan would cost me with one replacement, I'll just go buy a new phone. Unless I plan on loosing a phone EVERY YEAR, it is a significant loss of money. BAD INVESTMENT.

    Anyone here with any sort of decent financial background (or has any reference for what is or isn't financially viable) will tell you up and down that carrier plans are a *waste of money*
  16. macrumors regular

    Mar 30, 2012
    yep. house always wins.
  17. macrumors 68020

    May 23, 2011
    Thank you! You are so right! I keep telling family and friends NOT to buy any of the extended warranty crap (Apple or otherwise and definitely not carrier ones), and with Apple's half price replacement you describe, I think it's worth the risk.
  18. macrumors 68000


    May 28, 2008
    Let me know what AppleCare or AppleCare + does for you when you've lost or had your phone stolen.
  19. homeward, Jan 17, 2013
    Last edited: Jan 17, 2013

    macrumors member

    May 8, 2002
    Westchester County, NY

    I got the AT&T plan because it offers to replace iPhones dropped in the bathtub, which happened to my daughter's iPhone 4s last week, but now I found out that Apple will do the same at the same replacement price of $199.
  20. macrumors 6502a


    Jul 27, 2012
    In an ethereal plane of existence.
    AppleGuesser's analogy was far better.

  21. macrumors 68020


    May 9, 2008
    Does Comcast offer an insurance plan for your TV if it gets stolen or lost?
  22. macrumors 6502a


    Sep 19, 2007
    "Armpit of the South"
    Ok. So say I "lose" my phone one day...what hoops do I need to jump through to get my phone replaced? Surely it isn't as easy as calling them and saying "Hi, Jim Jimerson here and I lost my phone while playing in the park today. Please send me a new one".

    Even if it is that easy, its still a game of odds. And those odds favor me keeping that $11/month in my pocket lest maybe I somehow lose my phone.
  23. macrumors member

    Oct 6, 2011
    Chicago, IL
    The other problem with these "replacement plans" is that you do not get a new phone. You get a carrier refurbished phone.

    I used to have Sprint's insurance on my old android phone and it isnt Sprint providing the replacement or coverage. It is a third party warranty company who will only send you a used, refurb phone that is not always in perfect condition. They replace outer shells and cosmetically inspect the phone a swell as do a function test.

    The replacement phones I have gotten have often had issues with functionality as well. I do NOT recommend these warranties. Get a squaretrade one instead with the money or AppleCare+.
  24. macrumors 68020


    May 9, 2008
    Of course it's a game of odds, they rely on a number of people who sign up to never use the service in order to make money. Exactly the same way every single insurance or warranty company operates.

    Furthermore, these carrier offered protection plans are generally underwritten by a third party company (in Sprint's case, Asurion).

    While I have personally never used Sprint's TEP, I'd guess claims would be fairly straightforward.

    Seems like you can just call in, pay the deductible and get a replacement phone sent to you. Someone who has actually used the service would be able to tell you more though.
  25. macrumors 6502


    Dec 22, 2008
    Tampa, FL
    Because AppleCare+ doesn't cover theft or loss, only damage and defect. It's a significant difference. (I personally prefer SquareTrade...which also covers theft/loss)

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