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Could someone explain how the insurance works?

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Could someone explain how the insurance works?

I do not have a question but rather I have a gripe to air. AT&T 's Mobile Ins statement gives one the impression paying a monthly premium of $8.99 is going cover the cost of replacing a lost or damaged phone with a new phone. This is not true. I had an IPhone 5S that was bought on AT&T Next program in July 2015. The screen went black in Feb 2017 after 17 months. It had never been dropped or been in any water. It was diagnosed as a motherboard failure. I had paid for the Mobile Ins pkg from day 1 of purchase.; back then it was $7.99/ mo. I found out I would have had to pay a deductible plus some other fees & it was cheaper for me to buy another brand new 5S than use my insurance. So I canceled my insurance. It is a rip off!!!

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ACE - Expert

Re: Why is AT&T Mobile Insurance Missleading?

@380Barrenwood wrote:
I do not have a question but rather I have a gripe to air. AT&T 's Mobile Ins statement gives one the impression paying a monthly premium of $8.99 is going cover the cost of replacing a lost or damaged phone with a new phone.

Where does it say that you get a new phone??  (or imply that?)

 

 

 

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    ACE - Sage
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    Accepted by 380Barrenwood
    ‎05-16-2017 1:37 PM

    Re: Why is AT&T Mobile Insurance Missleading?

    First, ATT does not insure your phone, Asurion does.  Asurion is the company that covers insurance for all US carriers.  

    The only insurance without a deductible is life insurance.  

    The deductible after 17 months would have been $113 because of the declining deductible.  

    Your phone would be replaced with an identicle model if available, or the closest possible, which might be a newer model.  

    I dont use insurance, but I understand the risk.  If you use Next installments to buy an $850 phone and it's lost stolen or destroyed a month later, you still owe $850 and now have no phone.  I don't use installments, I pay full price.  

     

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