You’ve just bought the latest smartphone and you’re ready to go, you’ve got a case, and a car charger if you need one, -maybe a Bluetooth headset. There may be one more thing you really need, however, to complete the package. Check out the retail price on that Samsung Galaxy S4. Could it really be $649.99? Sure, and some phones retail for more. What if your kid, just wanting to “see the phone” drops it out the window? What if you leave it at In ‘N Out Burger? Gotta replace it, and fast.
Ever play darts at the local brew pub? Take one of those darts and throw it at the calendar. Ok, you just hit September 21. Can you afford $649 on that random date? Not me. Not most of the people I know, either. Here’s where phone insurance comes in… If you have the money to replace a high-end phone, maybe you are better off trying to add up the monthly cost (generally 6.99 to 9.99) and fretting over whether it’s “worth it.” As for me, I need the ability to make a mistake and fix it for $150. If you’re one of the 19% of people that are part of the following group (Horrifying statistic warning that you can’t unhear) that dropped their phone in the toilet, you’ll want to get that dealt with quickly and never speak of it again.
Paying that monthly fee suddenly makes all kinds of sense.