iPhone insurance

Discussion in 'iPhone' started by mpossoff, Apr 5, 2010.

  1. mpossoff macrumors 68020

    Joined:
    Mar 21, 2010
    Location:
    Philadelphia
    #1
    Hi since I bought my 3gs from Best Buys I have the opportunity to get their Black Tie iPhone insurance for $14.99/month.

    It seems a little steep.

    Can anyone suggest other means?

    Marc
     
  2. mpossoff thread starter macrumors 68020

    Joined:
    Mar 21, 2010
    Location:
    Philadelphia
    #2
    I took a suggestion from a co worker and called my home owners insurance. They have what is called Home Computer Endorsement which covers mobile devices as well up to $5000 with a $50 deductible. The premium is $19/year.

    These are the exclusions:

    wear and tear
    mechanical breakdown- failure
    neglect
    intentional loss
    indirect loss
    water damage related to a flood
    error in programming
    short circuit
    change in electrical supply

    The above are the important exclusions.

    I asked about cracked screens and water damage due to dropping device accidently and they said it would be covered.

    What other damages and coverage should one look for?

    The only disadvantage is if you file certain amount of claims your home owners premium will go up.

    Marc
     
  3. Cooper1662 macrumors newbie

    Joined:
    Jan 16, 2010
    #3
    Get your iPhone Insurance from Worth Ave Group. They cover theft, fire, flood, liquid submersion, cracked screens, etc. Plus, you still have insurance even if you file a claim, unlike some warranty providers.

    But you should use a screen protector and have your phone in a case either way, just in case something happens.
     
  4. r3vo macrumors newbie

    Joined:
    Apr 13, 2010
    #4
    I worked for best buy.

    Don't get the black tie protection.
     
  5. ajohnson253 macrumors 68000

    ajohnson253

    Joined:
    Jun 16, 2008
    #5
    That is pretty steep for something that you probably won't intentionally break or someone will break. 14 a month? Like everyone else said, keep looking. There are options.
     
  6. mpossoff thread starter macrumors 68020

    Joined:
    Mar 21, 2010
    Location:
    Philadelphia
    #6
    why?

    Marc
     
  7. KentuckyHouse macrumors 68020

    KentuckyHouse

    Joined:
    Jan 29, 2010
    Location:
    Lexington, KY.
    #7
    I got mine through State Farm (where I also have my car, renters, and motorcycle insurance). They don't do it in every state, apparently, but they do here in Kentucky. My agent said they don't do iPhone insurance specifically anymore, but they now call it a Personal Electronics Policy.

    $41/year with no deductible. It covers everything (drops, theft, fire, water damage...everything). Well, ok, it covers everything but (straight from the policy):

    1. War, including
    a. undeclared war
    b. civil war
    c. insurrection
    d. rebellion
    e. revolution
    f. warlike act by military force or military personnel
    g. destruction, seizure, or use for a military purpose
    h. any effects of any of these

    2. Seizure or destruction under quarantine or customs regulations

    3. Any order or law of a governmental or municipal authority

    4. Risks of contraband, illegal transportation or trade

    5. Nuclear hazard, meaning:
    a. any nuclear reaction, radiation, or radioactive contamination, all whether controlled or uncontrolled or however caused
    b. any effect of any of these

    Loss caused by nuclear reaction is not considered loss caused by fire, explosion, or smoke. Direct loss by fire resulting from the nuclear hazard is covered.

    7. Vermin or insects

    So, as long as I'm not caught in a war (declared or not), not seized by the government, not transporting drugs, guns, or any other illegal contraband, don't let bugs overtake my phone, and as long as the phone survives the initial nuclear blast, yet gets destroyed by the fire afterward, I'm covered. LMAO!!!

    This gave me a good laugh when I received the policy. :D
     
  8. r3vo macrumors newbie

    Joined:
    Apr 13, 2010
    #8
    There's so much crap in the fine print they add in there that make it stupid and a waste. I also don't think that covers accidents, not sure about phones never sold them. I would look in the the home owners if I were you.
     
  9. Paratel macrumors 6502

    Paratel

    Joined:
    Jan 26, 2005
    Location:
    Somewhere in the US
    #9
    There is also Squared Trade http://www.squaretrade.comAnyone have any experience with this insureance? I see that there is a 50.00 deductible.
     
  10. mpossoff thread starter macrumors 68020

    Joined:
    Mar 21, 2010
    Location:
    Philadelphia
    #10
    Ok called my insurance company Liberty Mutual and they have what is called Home Computer Endorsement that goes on the home owners policy.

    iPhone is eligible

    $50.00 deductible

    $19.00/year

    Coverage is up to $5000 of other related items such as computer, ps3 etc.

    Sounds pretty good but this is what caught me.

    1.​Wear and tear, gradual deterioration, depreciation, insects, vermin, corrosion, rust, mold, dampness, dryness, cold or heat;
    2.​Mechanical breakdown, faulty construction, an original defect in the property, error, omission or deficiency in design, specifications, workmanship or materials;
    3.​Neglect, meaning neglect of the insured to use all reasonable means to save and preserve the property at and after the time of a loss, or when property is endangered by a Peril Insured Against.

    Wear and tear is not covered and mechanical breakdown.

    Now it seems to me when you get 'policy' from the place you bought it , it would cover mechanical breakdown and possibly wear and tear.

    Correct me if I'm wrong let's take best buy insurance , they would cover mechanical breakdown?

    Marc
     
  11. mpossoff thread starter macrumors 68020

    Joined:
    Mar 21, 2010
    Location:
    Philadelphia
    #11
    I've heard alot about Worth Ave Group so I called to compare what Liberty Mutual offers and them.

    It turns out they are the same except Worth Ave premium is close to 4 times as much.

    The only downside I can see in adding to existing home owner policy is a claim is count against you for the entire policy , home related stuff included.

    Marc
     
  12. tanndie macrumors newbie

    Joined:
    Apr 15, 2010
    #12
    ACTUALLY
    I work for Best Buy in the Mobile phone department and you provided incorrect information.

    IPHONE BLACK TIE PROTECTION IS 14.99 MONTHLY AND IT COVERS DUST, HEAT, HUMIDITY, NORMAL WEAR & TEAR, POWER SURGES, WATER DAMAGE (NOT COMPLETE SUBMERSION) CRACKED SCREENS AND EVERYTHING EXCEPT FOR THEFT OR LOST.

    THERE IS NO DEDUCTIBLE REQUIRED AND YOU CAN USE THE INSURANCE AS MANY TIMES AS YOU WANT. ALSO BEST BUY DOES NOT BOTHER TO FIX IPHONES, SO THEY SEND OFF YOUR PHONE AND YOU GET A DIFFERENT ONE BACK IN 3-5 BUSINESS DAYS.

    OH AND YOU KEEP THE PLAN FOR AS LONG AS YOU WANT, THERE IS NO SET DATE FOR IT.

    THANKS. ;)
     
  13. Applejuiced macrumors Westmere

    Applejuiced

    Joined:
    Apr 16, 2008
    Location:
    At the iPhone hacks section.
    #13
    How could they determine WATER DAMAGE but (NOT COMPLETE SUBMERSION)?
     
  14. mpossoff thread starter macrumors 68020

    Joined:
    Mar 21, 2010
    Location:
    Philadelphia
    #14
    thanks tanndie it does sound like a great plan but it's pricey.

    What advantage is Best Buys Black tie for the iphone compared to the Liberty Mutual one I posted?

    Marc
     
  15. Applejuiced macrumors Westmere

    Applejuiced

    Joined:
    Apr 16, 2008
    Location:
    At the iPhone hacks section.
    #15
    I'd go with the Liberty Mutual.
    Within a year the BB plan will cost you $180 and the other one $19.
     
  16. TB07-NJ macrumors 68020

    Joined:
    Jul 7, 2008
    Location:
    US of A
    #16
    Be VERY careful when adding an iPhone or any cellphone, electronics, camera etc to your home or apartment owners insurance policy. If you need to file a claim they will pay but in MANY cases 1 year later your homeowners insurance will skyrocket.

    I didn't have a claim with my homeowners insurance company for OVER 35 YEARS. We had a pipe break in our house and they paid out around $2500. On my next renewal my rates went up $150 (almost 30%) due to the claim and will stay that way for 3 years assuming no other claim is made. I've hear people who claim their rates almost doubled after a claim. I'm sure every state is different but here in NYC area it's a common occurrence.

    If you need to waste money on cell-phone insurance do it with a company separate from your current insurance.
     
  17. KentuckyHouse macrumors 68020

    KentuckyHouse

    Joined:
    Jan 29, 2010
    Location:
    Lexington, KY.
    #17
    That sucks, MisterEdF, but maybe you should look into someone else to insure your home?

    I specifically asked (and got in writing) that if I ever used my "Personal Electronics Policy" with State Farm on my iPhone that it wouldn't affect my rates going forward. In other words, if I break, lose, or whatever my iPhone and need to file a claim, it won't be held against me.

    Sorry guys, but State Farm FTW!
     
  18. Applejuiced macrumors Westmere

    Applejuiced

    Joined:
    Apr 16, 2008
    Location:
    At the iPhone hacks section.
    #18
    So what State Farm location you're an agent at? :D
     
  19. truncj macrumors member

    Joined:
    Jun 26, 2009
    #19

    I can vouch for the state farm insurance policy. It's an individual articles policy and it is $50 a year in NJ. It covers just about everything including theft... Lost... Accidental damage... Just about everything ( hell... Like the above post... Civil war is one of the only things that wouldn't be covered). It's damn hard to beat.
     
  20. CocoaPuffs macrumors 68010

    Joined:
    Aug 23, 2008
    #20
    I would recommend switching to State Farm and use them as well.

    They can actually insure you without home owner policy with them. I did it on my MBP for around $25 bucks if I remember correctly.
     
  21. mpossoff thread starter macrumors 68020

    Joined:
    Mar 21, 2010
    Location:
    Philadelphia
    #21
    I live in New Jersey and called state farm to inquire about purchasing a policy just for computer, iPhone etc.

    They said it goes on to existing home owners policy just like how liberty mutual would work.

    Marc
     
  22. TB07-NJ macrumors 68020

    Joined:
    Jul 7, 2008
    Location:
    US of A
    #22
    EVERY STATE IS DIFFERENT! That may be how it works in Kentucky but up here in civilization it's totally different.
     

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