# Phone Insurance



## EsotericPunk (Jul 23, 2011)

Just thought I'd throw out something interesting I discovered. I have always hated the $6-7 monthly charge for insurance through the carrier and how the only other option is to pay 80-100 for an independent plan (plus deductibles on both).

I have renter's insurance, so I decided to check in with them on their coverage. After talking to my rep, I discovered that my wife's and my phones were covered with a $500 deductible (no thanks), but that we could add a clause to the policy to waive the deductible for these items. The clause ended up costing us an additional $6 per month on our renter's policy. That covers the full retail cost of replacement for both of our phones! With no deductible! We will get paid the full initial retail value for either phone if the phone is lost, stolen, broken, submerged in water, dropped in the toilet, abducted by aliens, accidentally grilled on a BBQ, et cetera. Basically, anything except normal wear and tear.

If any of you out there have renter's or homeowner's insurance, you may want to look into your coverage. Totally worth it to us.


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## UrbanBounca (Aug 9, 2011)

I'm not sure I want that insurance to increase due to a damaged phone.

Sent from my DROID2 using Tapatalk 2


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## MattIrsay (Feb 11, 2012)

I should've looked into renter's insurance 5 years ago. How much is an average monthly payment?

Sent from my HTC Evo 4G using Tapatalk 2


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## EsotericPunk (Jul 23, 2011)

MattIrsay said:


> I should've looked into renter's insurance 5 years ago. How much is an average monthly payment?
> 
> Sent from my HTC Evo 4G using Tapatalk 2


Well, it depends on different factors: amount insured, deductible, insurance company, multi-policy discounts, etc. My wife and I insure $29,000 with a deductible of $500. We have the previously mentioned side clause that waives our deductible for the phones. Our cost is $21 a month.


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## MattIrsay (Feb 11, 2012)

That's way worth it. I have at least 10,000 dollars worth of guitars and other musical equipment in my place. I'd hate to see it all burn and not have the cash to replace any of it. Did they make you take pictures of everything?


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## EsotericPunk (Jul 23, 2011)

Again depends on the company, my company just told me to make a list and hold on to it. Didn't even need me to send a copy.


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