Lost or stolen insurance?

Discussion in 'iPhone' started by davidra, Jun 25, 2012.

  1. davidra macrumors 6502

    Joined:
    Oct 12, 2011
    #1
    I know that Applecare+ does not cover lost or stolen, which I don't understand to some extent. If I smash my iPhone with a sledgehammer I get a new phone for $49 but if I lost it in a lake I get nothing. Trying to decide if Applecare + is worth it and what alternatives exist for a 4S....and is there anyone who does cover lost/stolen phones?
     
  2. GoCubsGo macrumors Nehalem

    GoCubsGo

    Joined:
    Feb 19, 2005
    #2
    Square Trade I think & Homeowner's Insurance.
     
  3. Ivan P macrumors 68030

    Ivan P

    Joined:
    Jan 17, 2008
    Location:
    Home
    #3
    It makes sense the way Apple has it already - if it covered lost phones you could theoretically walk into an Apple Store, claim the phone as lost when it could very well be in your back pocket, pay $49 and walk out with a second iPhone. There's no way for Apple to verify if the phone is lost or not.
     
  4. davidra thread starter macrumors 6502

    Joined:
    Oct 12, 2011
    #4
    Yeah, I don't get that either since I find it hard to believe that either Apple or the carriers couldn't block a IMEI number or serial number to never work again, seeing as you can do a remote wipe.
     
  5. takeshi74 macrumors 601

    Joined:
    Feb 9, 2011
    #5
    That's because it's not insurance. If you want insurance for your device then shop for insurance. AppleCare+ is a warranty that also covers a set number of incidents involving accidental damage.
     
  6. boomhower macrumors 68000

    boomhower

    Joined:
    Oct 21, 2011
    #6
    Homeowners or renters is your best bet. Most dedicated tech insurance companies don't do it because the iPhone is very expensive and the program would be rampant with fraud. Even if they did block it from US carriers unlocked phones still will sell for a nice premium to be sold overseas. When present the opportunity to take $300-$400 and turn it into $1000 your going to have a lot of fraud.
     
  7. davidra thread starter macrumors 6502

    Joined:
    Oct 12, 2011
    #7
    Funny how what you just described sounds an awful lot like insurance. I still say it is irrational to say that you will replace a phone I drop off a building but not one I drop off a boat. But whatever. My homeowner's deductible is more than the cost of an iPhone so that won't do. Does Square Trade cover lost/stolen devices? Does anyone?
     
  8. blueroom macrumors 603

    blueroom

    Joined:
    Feb 15, 2009
    Location:
    Toronto, Canada
    #8
    There's a big difference between a warranty and insurance.

    Your homeowners policy will often cover lost/stolen but not warranty.
     
  9. davidra thread starter macrumors 6502

    Joined:
    Oct 12, 2011
    #9
    Semantics. Warranties usually cover manufacturer's defects, not accidents where you smash the phone to pieces. Applecare + is NOT just a warranty; it's insurance against damage that you cause to the phone as well as a warranty. Do you really not see the difference?
     
  10. cyks macrumors 68020

    cyks

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    Jul 24, 2002
    Location:
    Westchester County, NY
    #10
    There is a difference and Apple's biggest reasons have already been pointed out, which you've chosen to ignore.
     
  11. tok macrumors member

    tok

    Joined:
    Mar 8, 2012
    #11
    Securranty does, but I actually never went through the claiming process to see how they are:

    http://www.securranty.com/smartphone-extended-warranty-accidental-damage-handling-loss-theft.html
     
  12. davidra thread starter macrumors 6502

    Joined:
    Oct 12, 2011
    #12
    I'm not ignoring it. It may seem very rational from their point of view, just not from the consumer's point of view. And as I said before, I suspect there are ways of minimizing the risk of fraud by disabling the phone. The way I see it, Applecare+ seems to be a great deal if you are pretty sure you'll smash your phone not once (which would save you no money at all over just going with the regular warranty) but twice. Of course, you would need to be more careful the second year without it, but really...it doesn't seem that overwhelming a deal if you are careful with your phone. What am I missing?

    ----------

    They do for some phones, but not the 4 or 4s.
     
  13. cyks macrumors 68020

    cyks

    Joined:
    Jul 24, 2002
    Location:
    Westchester County, NY
    #13
    You're not missing anything.

    It's no different than buying an extended warranty on a TV or any other piece of equipment. It's a piece of mind for those who are often clumsy, but generally useless to the rest.

    Disabling the phone on a worldwide level with multiple carriers wouldn't be an easy task, they'd have to be on the watch for new hacks or tricks to bypass their systems, and they'd have to deal with the poor unlucky saps who bought said phone thinking it was legit and working.

    It's much easier for Apple to simply avoid those risks by not covering lost/ stolen.
     

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