Is cell phone insurance worth it?
Cell phone companies try and get you to get cell phone insurance added onto your monthly plan, to the tune of $6-8 per month. But is it worth it? Unless you are someone who will lose the phone on a very regular basis (every month or two), probably not.
First, your replacement phone will likely be a refurbished phone, and may or may not be the same model you originally had, and you are usually STILL required to pay a replacement fee (to the tune of $50 to $100 usually).
You can get cell phones fairly cheaply on eBay (be sure to buy from a reputable seller so you know it isn’t stolen) and be up and running again within a week or so, or even faster if the seller is local to you. And you will probably be paying less than your replacement fee, especially when you consider you likely would have paid a few months of insurance on top of that.
Filed under: Budget
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