Asurion Phone Insurance Through Verizon? Don’t Waste Your Money

For years we’ve been paying $10.99 per month per phone to Verizon for insuring our family’s cell phones with Asurion in the event of loss, theft or damage.  If I remember correctly, we only had to file 2 phone claims over the years.  Yes, we had to pay a small fee for a full replacement (I believe both times it was $50) but the replacement phone was received the next day, everything was great.

iphoneEnter the mighty iphone into the insurance equation.  We have one iphone on our plan that won’t charge, it’s not a new one but a now ancient iphone 4s.  After a call to see how I can get it fixed or replaced, I now learn that it probably can’t be fixed and it’s going to cost me $169  for a replacement.  That’s quite a jump from $50. Things now get a bit dicey.  When I question the customer service representative why it’s so much I was told because the retail on the old iphone is $499.  I think I snorted when I laughed at that one, what a crock.  When I asked what my $131.88 a year I’ve been paying on that phone for insurance actually covered, I was told so I don’t have to pay the full retail price, and basically that was it.  Great investment on our part huh?

I quickly cancelled the insurance on all our phones and told Verizon thanks for nothing.

Off to the Apple store I went.  After taking a look at the phone, their first reaction was that there’s a good possibility it could be fixed.  But, if by chance it can’t, it would cost me $199 to replace it because, get this, that’s the retail price.  Far cry from what my friends at Verizon told me the retail price was, that’s a $300 difference.  Oh, and I can also pay $99 for insurance to cover the life of the phone for any loss, theft or damage and the phone will be replaced, no fee and no questions asked.

Boy I wish we had done our homework when we got all the kids their phones and purchased them all through Apple.  We’ve basically been throwing $54.95 per month (for 5 phones) down the drain for a service that just makes us pay more money when we need to actually use it.  Shame on us!

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