To add Sprint TEP or not

[mswlogo]

I used to be a firm believer in adding TEP.

But since they raised the deductable to $100.00 I'm less inclined to buy it.

First year is covered by warranty any way.

After a year the phone is worth half of what it was new.

Like if my Diamond died today. I could pick one up on Ebay for around $175.00 NEW no contract.

So I pay no deductable ($100) by just buying another on ebay and I saved 12 months of TEP ($84.00). And you typically get a refurb unit as opposed to a brand new one.

Sprint also seems not so generous about swapping phones for newer models as they used to be.

So why bother.

Since 2006 I have never used the TEP.

I've also learned to accept little glitches. I see so many folks saying I swapped 6 phones because of the D-Pad doesn't work well or 6 phones because they didn't know how to setup the GPS to work.

Sure I may run into bad luck but statistically your ahead especially if you upgrade every year warranty will cover most of it. Cracked screens I hear can be fixed rather cheaply.

What are peoples thoughts these days. Have you really thought the numbers through.

[subzero1313]

Remember first year doesn't cover: Lost, stolen, water damage, physical damage, charging port,etc etc. I get upgrades every year, and technically like you said theres a 1 year, but I still have TEP in case of lost, stolen, or I throw another phone through a wall

I hit my customers with this all the time: Whats more important, having it and not needing it, or needing it and not having it?

[AZTECHKA]

I get it in case someone steals my phone or I loose it. I don't want to have to go through any hassles. (ebay stolen or full price purchase) NOW... by the time this phone is 175.00 on ebay... I will already have a new phone again. lol.
p.

[fishingmedic]

And it's overnight shipping!! I would never go without TEP... it's insurance, just like on your house or car... hopefuly you never need it but it's there if you do. I feel much more secure playing with these things with TEP on the phone. You also have to hope and pray there's no issues w/ NIB through ebay, i.e. some other insurance scam.

[stomicron]

If TEP were free, then everyone would have it. And if TEP cost $100/month, then no one would get it. Right? So it's better to put emotion aside and just look at the numbers as you did, OP.

As you mentioned, the warranty covers most of the problems people have with phones in the first year. Most credit cards will give you additional protection for 30-90 days or so against theft, damage, etc. They will also extend your warranty for a second year.

With all of these protections in place I find it difficult to justify TEP. Yes, if you bought it tomorrow and your phone was stolen next week, it would seem like buying TEP was a great idea. But the majority of people with TEP will pay premiums for years and years that will exceed, by far, the value of what they get in return on the one or two claims they may file in that span. Especially considering the high deductible.

Ask the average TEP user how much they've paid over their (not the phone's) lifetime an how many claims they've filed. Most people could do themselves a favor by just saving the money. Not to mention that there are cheaper warranty options out there if you're hellbent on getting one.

Remember, the question isn't "Do I want my phone fixed if it breaks?"

It's "Does it make financial sense to spend $84/year and $100/claim compared to self-insuring?"

[lallen3]

^ I say ditch the insurance based on how you are with your phone. If you're forgetful (lost phone) or very hard on phones, by all means- get the insurance. But as for me, I haven't had a claim since 2003, and for a couple of years I was paying for basically nothing except peace of mind. I upgrade phones once a year anyway and cannot justify the extra costs of insurance. The very few failures I've had (TP1 comes to mind) were covered by the 1 year warranty.

[AZTECHKA]

Originally Posted by stomicron

If TEP were free, then everyone would have it. And if TEP cost $100/month, then no one would get it. Right? So it's better to put emotion aside and just look at the numbers as you did, OP.

As you mentioned, the warranty covers most of the problems people have with phones in the first year. Most credit cards will give you additional protection for 30-90 days or so against theft, damage, etc. They will also extend your warranty for a second year.

With all of these protections in place I find it difficult to justify TEP. Yes, if you bought it tomorrow and your phone was stolen next week, it would seem like buying TEP was a great idea. But the majority of people with TEP will pay premiums for years and years that will exceed, by far, the value of what they get in return on the one or two claims they may file in that span. Especially considering the high deductible.

Ask the average TEP user how much they've paid over their (not the phone's) lifetime an how many claims they've filed. Most people could do themselves a favor by just saving the money. Not to mention that there are cheaper warranty options out there if you're hellbent on getting one.

Remember, the question isn't "Do I want my phone fixed if it breaks?"

It's "Does it make financial sense to spend $84/year and $100/claim compared to self-insuring?"

Emotions aside... you are assuming we all have 800 credit scores and use our 0% interest credit cards to buy our phones and/or promptly pay our credit card bill as soon as it hits the mailbox so as to avoid interest charges. If I had put 400.00 on my credit card I would be paying the phone off for the duration of my contract.
I saved money and sold some stuff on ebay in order to come up with th 400 bucks up front. (or is it 450?). I carry insurance cuz I don't want to deal with it if it gets stolen or lost. I am not absent minded. However I have lost things in my lifetime. I assume you have too.
That is the beauty of ANYTHING that is OFFERED... You can choose to or not to get it.
I choose to.... You don't.
There's no convincing the opposite camp unless someone is making a mistake and realizes he should or shouldn't based on these threads. That's why we share and post our experiences. Not to be called on it or told that we should or shouldn't.
Just my take on things Ameirca... What's yours.
lol.
p.

[mswlogo]

Insurance on a car or home is different. That is to protect you from a really hard hit financially. If you can afford to replace the phone, it's cheaper to self insure it in the long run.

I agree if you are really forgetful or always droping it then get it. I'm really pretty easy on my phones. They look like new a year later. I've never come close to lossing a phone and phones are not stolen all that much because they can be traced. Especially CDMA phones.

[AZTECHKA]

Originally Posted by mswlogo

Insurance on a car or home is different. That is to protect you from a really hard hit financially. If you can afford to replace the phone, it's cheaper to self insure it in the long run.

I agree if you are really forgetful or always droping it then get it. I'm really pretty easy on my phones. They look like new a year later. I've never come close to lossing a phone and phones are not stolen all that much because they can be traced. Especially CDMA phones.

So... There you go... In your particular case I agree... It makes absolutely no sense to get TEP... I'm just glad it's offered and we get to choose. Imagine if it was mandatory and YOU had to get it... That would blow. For you that is.
lol.
p

[wteviper]

In my experience the TEP is totally worth the money. I just completed a 2 year contract, I started with a mogul (lots of bad luck there went through 8 phones in 12 months), I was upgraded to a NIB touch pro, when it died 2 weeks ago I was given a refurb that would shut off when you closed the slider, they upgraded me to a NIB Pro 2, before leaving the store with defective pro. Then when the screen on the Pro2 spider-ed after 5 days they ordered me another NIB Pro2.

My wife had a Moto Q and when it died 6 months into her contract they replaced it with a Moto Q9c, same day no additional charge.

If you have TEP and walk into a sprint store they, in my experience, take good care of you. If you are out of warranty and don't have TEP I have seen them charge alot of money for repairs if you aren't eligible for contract renewal or a phone upgrade.

I am very happy they offer it and I have it. My buddy has a Tilt with AT&T that is out of warranty and having issues, he is still in contract and not eligible for an upgrade, but AT&T doesn't offer TEP on high end phones at all so he is S.O.L.