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***MobileProtect / Squaretrade Ins. Thread: Do You Have It? If Not Why? ***

falconman515

falconman515

macrumors 6502a
Original poster
Jun 8, 2010
578
36
I am looking at getting insurance for my phone! Lets talk about MobileProtect a bit and why its better than Squaretrade and Visa Versa. Would love to get some feedback on these insurance carriers.

And yes I have searched and read a few other threads but they didn't help to to much so I wanted to get a good thread together for those of us out there ready to look into this for our new iPhone4's.

Thanks for the help and advice guys! :eek:
 
I did SquareTrade because its cheaper and covers what I need to have covered -- me being clumsy.

With that said, I never did anything on my other iPhones and they lived a good life. My 3G broke ~3 weeks before the 4 came out, so I didn't bother to get it fixed. I dropped and the top right part of the screen broke. This convinced me maybe insurance maybe wasn't such a bad idea :)
 
I'm thinking of getting the mobile protect and according to their website it's 199 dollars to replace both the 16GB and 32 GB iPhone 4. If i knew this in advance i would have gotten the 32.
 
sinsin07 said:
Safeware: What Squaretrade is missing: Theft

http://www.insuremyiphone.com/
Click to expand...

How good is SafeWare? Are they a reputable company? Will they actually honor a claim?

The reason I ask, is because with SqT I have never had an issue on the one claim I made, and their feedback is consistently good with honoring the policy.

Other vendors not so much. Around ~10 years ago I worked for a company that offered after market warranties (in IT) and I can tell you that they deny as many claims as they possibly can. I'm not saying all are like that, but some are.
 
I don't have it because loss of my iPhone wouldn't be catastrophic for me. Even if my phone blew up tonight I could get a 3GS on craigslist for $250. And the iPhone 5 ship date is just 1 year away!!!
 
JediZenMaster said:
I'm thinking of getting the mobile protect and according to their website it's 199 dollars to replace both the 16GB and 32 GB iPhone 4. If i knew this in advance i would have gotten the 32.
Click to expand...

Mobile protect seems like a ripoff at $12/M + a $199 deductible? After a year you'll have paid ~$350 for coverage. That is a lot of money to only also cover for theft over SqT.

If SafeWare is reputable, then they seem like a good deal as well.
 
JeffreyDJ said:
How good is SafeWare? Are they a reputable company? Will they actually honor a claim?
Click to expand...

I just started looking into them so i have no idea, but they have an A+ with the BBB and have been registered since '88.

Here's my claim estimate:

Your total policy cost for 1 Year of coverage is $108.90.

Features
Covering: Apple iPhone 4 - 32GB ($500)
Total Coverage Amount: $500.00
Coverage Area: Domestic
Policy Term: 1 Year
Deductible: $50.00
1 Year Premium: $99.00
1 Year Municipal Tax: $0.00
1 Year State Tax: $0.00
Policy Fees: $9.90

Total Policy Cost: $108.90

quotechart6-24-10.jpg


Please Note: If international coverage is selected a $200 deductible is applicable for all claims that occur outside of the United States, Canada and Puerto Rico.
Click to expand...
 
My quote was $70. It really looks like a good deal for 1 year, especially the theft coverage (even though thats not a huge concern for me). I wish there were a few people who actually have used them before.
 
Thanks for the replies so far!

Safeware is not an option for me cause I want as plan with monthly payments and not have to drop 100+ for one year of insurance. Yes the site on the main page says $69 for the year but there is a * and it says doesn't include state fees etc. and when I got the full quote it was $100 with 8 dollar state fee or something so its was a total of $108 for the year with no monthly payment option just one full lump sum.

Squaretrade seems great since its 2 years and it has the monthly payment option and with a coupon code that hear comes all the time it brings the monthly down between $4-5 dollars. the only thing that it doesn't do is cover theft / lost iPhone. They seem to get great reviews and has been a reputable company for many years.

Mobileprotect seems to cost more of course per month but there in turn covers the loss or theft of your phone! This is big for some people and though not huge for me a real coverage to have. Though it seems to get a new 32gb iPhone4 under this policy I have to pay $199 where as S.T. is $50 I think.

This is my initial view on these so please chime in with your thoughts so we can have thread to make the correct insurance choice for our new investments. :D
 
I think MobileProtect is a ripoff.

Because the deductible is $199, your better off putting $12 in a savings account every month ALONG with $200 ... and then pull it out if it's broken or lost. In two years, assuming you don't need to use it, it's ~$440 + interest that you can use for a new phone and have enough for an upfront warranty, plus a few accessories.
 
One thing to consider is that the SLICKPHONE4 coupon code for SquareTrade is no longer valid - so it'll cost $99 instead of $80, if that matters to you.
 
Jemi9OD said:
One thing to consider is that the SLICKPHONE4 coupon code for SquareTrade is no longer valid - so it'll cost $99 instead of $80, if that matters to you.
Click to expand...

I heard they do these codes all the time and sometimes up to 40% all depending on the promo. so i'm sure this week or next week will yield a new promo code for a discount again.

But even if so is Squaretrade really the one to go with? Its weird to think they will try and FIX my phone... they are not iPhone experts and I'de to think of anyone other than apple working and tearing apart my new iPhone4 when they really dont what they are doing. So since they dont replace the phone (unless completely unfixable) how great of a policy is this... they dont even cover loss or theft... An insurance plan should ALWAYS cover loss or theft or the warrantied product I think. It would be great to save 6 bucks but how worth it would it be If I spend 6 a month for a year then lose my phone.... THEN WHAT?

Still stuck on what the heck to do here.
 
JeffreyDJ said:
Mobile protect seems like a ripoff at $12/M + a $199 deductible? After a year you'll have paid ~$350 for coverage. That is a lot of money to only also cover for theft over SqT.

If SafeWare is reputable, then they seem like a good deal as well.
Click to expand...

+ 1. You would have to be out of your mind to buy MobileProtect.
 
JeffreyDJ said:
Mobile protect seems like a ripoff at $12/M + a $199 deductible? After a year you'll have paid ~$350 for coverage. That is a lot of money to only also cover for theft over SqT.
Click to expand...

$350 is alot better than $700 I would think! Plus they cover loss and lets face it we have all lost something along the lines and most its been there phone. I have never lost mine but I know many who have and wish they would have had something to cover a lost phone... especially a 700 dollar one.

Still not saying thats the best route cause ST is alot cheaper with pretty much the same coverage with a lower monthly and lower deductible... but still no loss or theft coverage.

Its a hard decision guys. If I do ST and lose my phone I will kick myself in the ass. :rolleyes:
 
That's all good and all... but no warranty coverage? I guess you can't have EVERYTHING and a cheap price. LOL.
 
You said you don't have the $100 to pay up front for the SafeWare contract; That is a fraction of the MobileProtect, but if you buy Mobile Protect you'll need to shell out $199. Seems to me if you're that worried about Theft/Loss your only real choice is SafeWare -- even if you have to pay upfront.

If you loss your phone even just 3 months from now then MobileProtect would be $236. SafeWare would be $150.

Every month afterward that total is going up by $12...
 
JeffreyDJ said:
You said you don't have the $100 to pay up front for the SafeWare contract; That is a fraction of the MobileProtect, but if you buy Mobile Protect you'll need to shell out $199. Seems to me if you're that worried about Theft/Loss your only real choice is SafeWare -- even if you have to pay upfront.

If you loss your phone even just 3 months from now then MobileProtect would be $236. SafeWare would be $150.

Every month afterward that total is going up by $12...
Click to expand...

You do make a good point! And I think with Safeware your policy doesnt have to start within 30 days of purchase... it can made at anytime (correct me I'm wrong).

Once again that is a good point. :eek:
 
lorenwade said:
That's all good and all... but no warranty coverage? I guess you can't have EVERYTHING and a cheap price. LOL.
Click to expand...

Are you talking about safeware? I saw that on there comparison that the other had Yes under warranty coverage and safeware has no under warranty coverage!

What exactly does this mean?
 
That means they'll cover if it breaks because you're clumsy, but not if it fails on it's own -- like a battery failure.

MobileProtect is the only one that seems to do everything. It's just so darn expensive!
 
JeffreyDJ said:
That means they'll cover if it breaks because you're clumsy, but not if it fails on it's own -- like a battery failure.

MobileProtect is the only one that seems to do everything. It's just so darn expensive!
Click to expand...
OKKK... well that rules them out! How is that considered coverage? If you mess it up and break it cool we'll give you another but if the battery fails or the phone did it on its own... well Sorry? ... REALLY?

Ok then I'm now back to Squaretrade and Mobileprotect. So this is the meat of it then:

Mobileprotect - Cost twice as month a month and you pay about 150 dollars more in deductible when needing replaced. BUT they cover Loss or theft which may be worth the extra 6 a month possibly.

Squaretrade - They have half the price of a monthly payment with the same coverage (CORRECT ME IF I AM WRONG ON SAYING THE SAME COVERAGE MINUS THE LOSS COVERAGE OF COURSE) as Mobileprotect but only 50 dollars deductible when needing replaced instead of 199 dollars.

ALSO... Squaretrade "Tries to fix your phone first" It seems that with Mobileprotect if you lose your phone well of course they just send you a new one and you pay the deductible and if its damaged they dont try and fix it... they send you a new one (you pay deductible of course) and then you send back the damaged phone. Am I wrong on this or is that correct?

And i see that Mobile protect gives you 2 replacements in the one year period while ST only gives 1 replacement in the 2 year. And it shows ST has a 30 day claims waiting period and MP does not.
 
This is why I do SquareTrade and add a plan on my home owners insurance. SquareTrade for any claims on breakage and warranty, but my home owners insurance (or renters) for theft, etc. Home owners insurance plan is $25 a year ($2 a month basically), and the same $50 deductible.
 
lorenwade said:
This is why I do SquareTrade and add a plan on my home owners insurance. SquareTrade for any claims on breakage and warranty, but my home owners insurance (or renters) for theft, etc. Home owners insurance plan is $25 a year ($2 a month basically), and the same $50 deductible.
Click to expand...

where in the world are you getting HO Ins. / Renter Ins. for $25 a year??? Mine is $23 a month for renters through progressive with a few hundred Deductible.
 
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