1. stan goran's Avatar
    I was researching theft insurance for my Plus and
    my homeowners insurance quoted me a plan whre I would take out a
    rifer for $28 per year that would replace my stolen Plus for the
    "depreciated value" at the time of theft.therr It has a $50 deductible with
    this coverage. Sounds like a decent plan , as IPhones do not
    depreciate that much per year( or do they)?
    What do you all think of this ? Sounds
    a lot better than carrier plans !
    11-21-2014 05:27 PM
  2. SeanHRCC's Avatar
    iPhones do significantly depreciate as the next generation is released...but they do hold better value than other smart phones on the market as do most Apple products. The problem we'll see with the 6 Plus next year is that it is the first MAJOR price increased device, but when the next generation comes out, people will apply typical depreciation logic to it...so we'll probably see a little more than normal. Year on year, depreciation averages around 40%...I bet the 6 Plus see's closer to 50%.
    11-21-2014 07:01 PM
  3. substring's Avatar
    Electronics, any electronics, always depreciate quickly because of technology advancement. But seriously, not too many people have concern on that.
    11-21-2014 07:11 PM
  4. stan goran's Avatar
    Does anyone thin my homeowners insirance
    Deal is decent insurance for my Plus ?
    11-21-2014 09:23 PM
  5. SeanHRCC's Avatar
    Does anyone thin my homeowners insirance
    Deal is decent insurance for my Plus ?
    Guess it depends on what they consider depreciated value, and what that would help with when buying a new device after it was stolen.

    My home owners insurance covers the same but doesn't require a stand alone branch to cover it. I think my deductible is like $250, and given I can't imagine really any situation where my iPhone would get stolen on it's own, that amount seems perfectly reasonable to me.
    11-21-2014 09:42 PM
  6. warcraftWidow's Avatar
    Does anyone thin my homeowners insirance
    Deal is decent insurance for my Plus ?
    Well if you go for 2 years and it hasn't been stolen/lost, you'll have spent $56 for the coverage. If it does get stolen sometime in the second year, you'll then have paid $56 + $50 deductible for a total of $106. Assuming you got there $16GB variant of the 6+ which costs $749 (I think). If Sean's depreciation estimate is correct, the depreciated value in the second year could be somewhere in the $200-350 range. Even at the high end of that, you'll have paid $106 and gotten $350 back from the insurance company for a net of approx $250. For that same $250, if your phone was stolen, you could probably go out and purchase a used phone to replace your lost phone.
    11-21-2014 09:42 PM
  7. stan goran's Avatar
    Not to beat a dead horse, but now I am really
    Confused ! Are you saying with my homeowners plan
    -if my phone was stolen after one year -with depreciation I would only have $250 to
    Purchase a refurbished IPhone 6 Plus( assuming we use a 16 GB model). Also, I would
    Have spent $28 + $50 deductible ). So, I would have spent $78 total and a refurbished
    IPhone 6 Plus would sell for maybe $689 in a year and I only have $240 or $300
    ( depreciated value of phone). So, I am ending up al oat $350 short of being able to
    Buy a new IPhone Plus to replace my stolen one.

    With a carrier plan( $10 per mo and $199 deductible). I would have spent $120
    After a year + $1199 deductible for a total of $320 but would then get a NEW
    Refurbished phone.

    So the Q is: Which is the better theft protection -my homeowner
    Plan or a carrier plan ? very confusing ......
    11-22-2014 02:32 PM
  8. warcraftWidow's Avatar
    Neither is a good deal, IMO. I buy Applecare+ because there is a reasonably high likelihood of dropping something that is in my hands a large portion of the day over the two years of coverage. I wouldn't buy theft insurance on a phone because I think the likelihood of getting my phone stolen is fairly slim based on my lifestyle. So to me, the cost of theft insurance isn't worth it. Your lifestyle and/or risk tolerance may be different than mine.
    11-22-2014 03:09 PM
  9. cyberpaw's Avatar
    I think the theft insurance is a good deal, if that concerns you. The phone will not depreciate that much. I would also get AppleCare+ to cover possible damage, if that concerns you.
    11-22-2014 03:36 PM
  10. stan goran's Avatar
    Perfect -I will buy the $28 per year homeowners insurance theft plan and the $99
    AppleCare plan and with my Spiegan Tough Armor Case -+
    Tech Arnor Tempered Glass Screen protector I wil have the
    Best of all worlds and can enjoy my beautiful gem
    with absolutely no worries ! Seniors worry about everything-an
    Occupational hazard (LOl, as the young folks say)
    11-22-2014 05:14 PM

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