Featured post by Todd Green. -Ed.
Whenever you sign up for a new cellphone plan, there is one moment that is always the same — the moment where you are asked if you want insurance. There are many different opinions on what you should say in that moment; some people swear by cell insurance, while others decry it as a scam. Below, you’ll find some shopping strategies to help you decide if insurance is right for you — and where you should get it.
Look at the Costs
At the heart of it, deciding on phone insurance is about a simple equation: How much does the insurance cost versus how much the phone would cost to replace. Newer phones, of course, are going to have a higher replacement cost, and getting insurance for your latest pricey gadget is probably a good idea. On the other hand, the cheap pay-as-you-go model you pick up at Walmart may not be worth the monthly premium. Instead of thinking of phone insurance as a monthly expense, you can think of it as putting aside a bit of money for a new phone with every payment.