T-Mobile’s smartphone insurance rates to increase in March, creates new tier for the Galaxy Note 2
At $370 (after $50 mail-in rebate) with a 2-year agreement, the Samsung Galaxy Note 2 is far from wallet-friendly. But you know what stings more than that? Trying to pony up the $650-$700 and buying one full price (no contract). Now that is sure to break the bank.
Given that the G-Note 2 is one of T-Mobile’s most expensive offerings ever, it seems they have to create a whole new tier for those wanting to make sure their investment is protected through Asurion. Starting March 17th, the Samsung Galaxy Note 2 will cost a whopping $175 to replace, while paying anywhere from $6, to $12 a month to keep it insured. That’s not all. It looks like the standard deductible to insure any smartphone on T-Mobile will also go up an extra $20, jumping from $130 to $150 with the monthly charges remaining the same.
Some quick math tells us that you could be paying upwards of $288 over the life of your contract (and that’s if nothing were to happen to your device). If your phone drops and breaks requiring a replacement — that’s around $463 total. While I could see it making sense to insure a brand new phone like the Note 2 upfront, I can’t see how it would be worthwhile after a year (phones depreciate quickly). A year from now you’ll most likely be able to find a Note 2 on Craigslist for around $200.
Of course, there are always alternative insurance providers like SquareTrade who will insure a device for around $7 with a $100 deductible. Question: do any of you guys insure your Android devices? If so, for how long? Or perhaps you prefer to let fate decide when it comes to your smartphone’s future?