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Why would you not get insurance?

dukebound85 said:
No kidding

Besides, my CC protects me...FOR FREE

Also, 600 bucks is really not that much. It is not like I am insuring a car or a house that can have potentially tens of thousands in claims
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Which card, if I may ask. I was under this impression with Amex, but apparently accidental damage is covered only 90 days after purchase. After that, you get a two manufacturers warranty only.

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aristobrat said:
Just so that you can tell your customers the correct info, Apple replaces broken iPhone for significantly less than CONTRACT PRICE!

$229 iPhone 5
$199 iPhone 4S
$149 iPhone 4, iPhone 3GS, iPhone 3G, Original iPhone

http://support.apple.com/kb/index?page=servicefaq&geo=United_States&product=iphone
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Good information. But it doesn't include loss (which the OP mentioned). I think the take home point is that people don't realize their $200 phone isn't actually a $200 phone.
 
lordofthereef said:
Which card, if I may ask. I was under this impression with Amex, but apparently accidental damage is covered only 90 days after purchase. After that, you get a two manufacturers warranty only.

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Good information. But it doesn't include loss (which the OP mentioned). I think the take home point is that people don't realize their $200 phone isn't actually a $200 phone.
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Mine is the same. I feel that is an adequate ant of time to be covered personally vs paying a significant % of the phone price in premiums and deductibles
 
Because selling insurance is profitable! Customers pay more than insurance companies pay out. Pretty simple.

In my opinion, insurance is only a good idea when the risk has the possibility of destroying you financially (such as health, life, auto and home.)
 
BaldiMac said:
Because selling insurance is profitable! Customers pay more than insurance companies pay out. Pretty simple.

In my opinion, insurance is only a good idea when the risk has the possibility of destroying you financially (such as health, life, auto and home.)
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This. Excellent post.

I have fairly expensive homeowners insurance because if god forbid something happens I wouldn't be able to cover it myself. If something does happen although a hassle I'd actually make out better with all brand new stuff, or the price I initially paid anyway.

If my phone is broken, no big deal apples got my back. If its list or stolen then that sucks but I can just buy a new phone.
 
SR45 said:
Here is a sales pitch for ya...

I'd rather have it, and not need it, than need it, and not have it. Common sense when it will only take one issue or loss. ;) Make jokes all you want, but don't come running back here and whine about your damaged phone or its loss.
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Agreed. I have never had to use it, but it is nice to know it is there if I need it.
 
I have the asurion insurance through Verizon and think its a huge waste

i can't believe you'd think the lady was committing fraud because she didn't want a case or insurance. I cant stand Verizon salesman. Going to the Verizon store is the worst time of my life.
 
It's nice you actually believe in what you are selling. You aren't initially ripping people off like I'm sure a lot of your co-workers are.
 
I don't buy phone insurance because I am always careful with my stuff and to date, haven't had any damage to my phones.

I even carry the 4S with no case or cover and it's still as good looking as the day I got it.

I know the risk and the costs involved should I severely damage it and I made my decision based on my habits.
 
I've been using cell phones since 1993, and have never lost or broken one. Using your math, that's $2400 in insurance premiums I haven't spent.

I'm pretty far well ahead of the game.
 
MacDawg said:
Simple, I know the risk and I am willing to take it
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The rule is: If the possible damage is low enough that you can pay it, then you shouldn't get insurance. A $600 phone is of course painful to replace, but you can do it. Therefore: No insurance.

Of course there will be people who benefit from having an insurance when their phone gets broken or stolen, but there are more who just pay out the money and get nothing back, and there are more of them, because otherwise the insurance would lose money.

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Interstella5555 said:
Unfortunately insurance companies don't love people who give them money as much as you seem to love them.
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Huh? Insurance companies love people who give them money a lot. What they don't like is people who want something in return ;)
 
thehustleman said:
Only problem with apple care - a problem I REALLY wish that they'd go ahead and fix is it doesn't cover loss or theft. There's no good reason for them NOT TO cover that, but I guess it is, they feel that they'd get you to buy another one easier.

How is insurance a rip-off?

it's 10 dollars a month which is 120 a year and let's say you make the MAX claims (2 per year). In that first year, you spent 120 on insurance.

the first claim at 170 for the deductible.

You just got a 650 phone for only 390 bucks total.

File another claim? Another 170 and now you're looking at 560 - LESS THAN the price of ONE replacement and you've had TWO replacements.

2 years and 4 claims will get you 1,120 dollars spent, but you just got 4 replacements over 2 years. You can't even find 4 iphone 5's on CRAIGSLIST in working order for that price.

If you re-buy it, you're looking at 1,300 for the first year in replacements, and 2,600 over 2 years.


How is that a ripoff?

Meanwhile applecare is 99 bucks, but it doesn't cover loss, or theft.
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Dude, I dumped my money into the insurance. It wasn't worth it, as I didn't lose my phone or get it stolen, and it won't happen. I've dropped it plenty of times, that's why I have the Otterbox. Great case for when I'm going to be out causing a ruckus (tailgating, bar hoping, camping, etc.). I keep it nude the rest of the time. :apple:care+ covers the drops and that stuff. That is going to be what causes me to replace my phone, not getting stolen or lost.
 
thehustleman said:
I've never understood this...It's a great value
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If u say so.

I believe there is a Consumer Report article, says Extended Warranty for electronics is a money maker for the vendor and a sucker deal for the consumer.

But OK it makes you feel safe.

There is a whole constellation of sales pitches out there that prey on your fear: If this and IF that and what if. If - If - If.

The same way I don't buy insurance for my home against theft and and only liability for my old car, no collision.

Not going through a long expianation, this is discussed countless times already.

It all comes down to what you are making and your tolerance for risk. Life is a series of managed risks.


P.S. Just noticed your USER NAME, is that a coincidence? ;)
 
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My house insurance covers me enough. If it gets stolen, it's covered, if a friend smashes it, it's on his/hers insurance. If I drop it, it's my ass, and I have dropped it, and working as a worker for the metal industry, it's had a pretty rough life, and you know what? It's still working, the screen is not smashed or anything. It have a few dents in the plastic, and the obvious scratches in the glass, but nothing serious and thats all. 1.5 year old iPhone 4.

None of my previous smartphones has ever been stolen, or smashed. The latest phone I remember I killed, was my beloved Nokia 6100, and thats 9 years ago.

9 years without damages, and at the cost of about 29kr (I live in DK) meaning I saved 3132kr. Even if I drop it and smashes the screen or the glass on both sides it will cost me about 700kr for both. Thats 4 times I have to smash my iPhone.


I'll take the risk..
 
A phone salesman comes here telling everyone they should buy insurance. Interesting.

I've been carrying around cell phones since they were invented. I have never bought insurance. I have had the iPhone 3S and every upgrade since. I never bought insurance. And, I have never needed insurance.

Sure, it may be helpful to some. But, most of the time insurance on certain products is just another way to get the customer to give more money. Why? Because most problems with phones are covered under warranty.

Also, my wife, brother, sister-in-law, mother and father all use cell phones regularly. None of us have ever needed insurance. While I understand you are selling a product, you need to realize it is not a necessity.
 
I've been using cell phones for 20 years now. My first one in 1993 was so big that I could not put it in my pocket and had 100 # storage. In all these years, I've never had insurance and never needed it. I would highly recommend against it as well. It's just another way for carriers to make more money just as Apple care is just another way for Apple to make more money.

I've never purchased Apple care either and never had a computer or phone fail me.

The OP must work for a cell phone store or something similar.
 
BoostDeuce said:
I have the asurion insurance through Verizon and think its a huge waste

i can't believe you'd think the lady was committing fraud because she didn't want a case or insurance. I cant stand Verizon salesman. Going to the Verizon store is the worst time of my life.
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Huh?

Let's talk about your reading comprehension.

Where did u say she was committing fraud because she didn't want a case or insurance?



Now we do get A LOT of fraudulent purchases with iphones.

They will buy an iphone in contract , not pay the bill, and sell the phone, usually only profiting 100-150$

Then we get charged back meaning our commission is taken back from us.

One of the main signs of fraud is no insurance, no case, no porting numbers, multiple lines (not always but sometimes)
 
Purchased iPhone 4 Sim free without insurance. Used it everyday until the iPhone 5 came out and then I sold it. Perfect condition except the home button which was a little tired. Sold it for about £250.
Purchased iPhone 5 Sim free without insurance still going well thank you.
Not every person needs insurance because some of us actually look after our stuff and don't use it in the toilet etc.

I'd rather pay the price if it breaks than give you and yours £10-£20 a month thanks.

If you never go for the extended warranty every time you buy something electrical, but put the money in the bank, when you are unlucky and have something break you ail still be quids in. If nothing breaks all the more so.

The only exception for me is my iMac when I went for applecare as its such a pain to service.
 
I paid for AppleCare when I got my iPhone.

Beyond that, in 30+ years of being fascinated by electronic do-dads, I've never felt a need to purchase "insurance" to cover my devices.

Insurance is for big stuff. One car accident or trip to the hospital can RUIN you, financially. That is where insurance can help.

But if my TV, video game system, or phone breaks, I just get another one.

Carriers like AT&T and Verizon charge thousands of dollars to use the device. If I can afford that, I can certain afford the phone.
 
Xenomorph said:
I paid for AppleCare when I got my iPhone.

Beyond that, in 30+ years of being fascinated by electronic do-dads, I've never felt a need to purchase "insurance" to cover my devices.

Insurance is for big stuff. One car accident or trip to the hospital can RUIN you, financially. That is where insurance can help.

But if my TV, video game system, or phone breaks, I just get another one.

Carriers like AT&T and Verizon charge thousands of dollars to use the device. If I can afford that, I can certain afford the phone.
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It's a great excuse to use to buy another model phone.

When I bought my 4S at Radio Shack in January, the guy was so disappointed because I would not buy any accessories or cases or even car chargers. I told him straight up that I had owned every iPhone model several times over and that this 4S was not my first and that I owned everything I could ever need to put on my iPhone or charge it with, even the XM Skydock.

He didn't make any extra money from me and it showed in his attitude but I really didn't care. It's just like the insurance. They make extra money in their pockets by pushing it and I refuse to place my hand in their pocket to put it there.
 
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