Verizon

I am, quite frankly, a bit of a mess. I am constantly forgetting things and my memory seems to have rapidly deteriorated within the past several years. It is quite often when I have to return to a previous locale and attempt to locate my personal belongings. I cannot count how many times I have lost a hat or various articles of clothing. Another item I seem to have difficulty holding on to is cell phones. Cell phones are convenient because they are portable - but for me that is also their downfall. I will set them down somewhere and go about my business, and not remember where I have left it - so for me, when I went to Verizon Wireless to pick up my new cell phone, their insurance policy was extremely attractive.

In previous years I have had to resort to buying phones on eBay after losing my cell because I refused to get insurance (This time I won't lose it! I'll be extra careful! etc.). The full retail price to purchase the phone again was much too expensive and eBay offered a moderately cheap replacement of a different model. This year I went with a different route. Verizon's insurance policy involves paying $6 a month and a $50 deductible when you are in need of a replacement. The phone I bought this past April was a Samsung Flipshot tagged at a hefty $220 price - something I would not want to pay again. I must say it has payed off so far.

Me being the klutz I am, I left it out in a locker room and it was stolen within my first month of ownership. I deactivated my phone and then filled out the necessary paperwork before being shipped a replacement in about two weeks.

Several downsides of Verizon's insurance program were the $50 deductible (I could have gotten a working replacement on eBay for this amount) and the fact that you had to pay for the

Verizon service while your phone is out of commission. Also one cannot simply go to the Verizon Store to replace your phone. You have to mail it to Verizon's insurance company and then wait for them to process your claim.
Regardless I decided I made out quite well because I really liked the make and model of my phone and wanted to keep it. Several months later I left it in a hotel room and when I called to see if it had been reported missing I had no such luck. I ended up filing the insurance report again and received another replacement.

How much did I save? The math:
2 new phones = $220 each * 2 = $440
2 $50 dollar deductibles = $100
6 months of insurance = 6*6 = $36
$440 - $136 = Approximately $300 in savings

For me getting insurance was definitely worth it. Unfortunately Verizon's insurance company will only replace 2 of your phones a year so I will have to be extra careful for the next 6 months or I will have to resort to eBay again. Moral of the Story? If you purchase an expensive phone and have a past history of losing or forgetting your cell insurance is a bargain.