Dumb and Dumberer or The Electronic Protection Racket (with a little 5G network truth as a chaser)

Warranty! Warranty! Warranty! Gotta have a warranty on that expensive new 256 gigabit iPhone that costs over $1,250 out of the box! I mean what if you dropped it or got it wet of sat on it or lost it?! Oh my God! Perish the thought!

It's a racket folks. Now, I can see the need while you are actively paying for the the item or (for some crazy reason) paid cash up front for that mini connection to the world BUT it should end there. The value of that device drops like a stone with use and the passage of time. If you happen to believe in keeping that device as long as it functions to your satisfaction and you're able to ignore the subsequent sales pitches for the latest and greatest NEW models you will find your trip to the cleaners is guaranteed. Sound like I am being cynical? Not really. I was looking in the mirror after speaking to Assurian (my spelling) regarding my LG G5 needing to be replaced under warranty and noticed the big L on my forehead. So stay with me fellow life travelers and we shall peel the onion that is the bogus, bullshit, electronic device warranty. Tissues are advised.

The cost of phones today is insane. My phone was purchased in 2016 (I believe) and I forked out $600 paying monthly for 2 years added to my cell bill. I also bought the insurance which ranged around $9-10 as well. The logic seemed valid. I would have to pay $100 deductible to replace my phone in the event of damage or breakdown. Seemed fair. So let's just say I was paying $100 a year and with a $100 deductible I would still be better off instead of buying another phone outright. I signed up and forgot all about it..

Yesterday I contacted the insurer to let them know there were functional issues with the unit and that it needed to be replaced. No problem. I spent about 15 minutes with the agent on the phone and answered all the questions and was informed I would be getting another G5 and was asked how I wanted to pay the $149 deductible. I stopped the agent in his tracks and asked how he arrived at that number. He said it was a percentage of the cost of the phone. I said, "Really"? The cost of a 4 year old model no longer available for purchase was being used as a basis of my replacement. I asked him what was being used as a cost factor for a refurbished 4 year old phone. His answer...$600. "Here's your sign".
I calculated my payments to ASSurian over 4 years to be in excess of $400 and, along with a $150 deductible, surmised that if I follow through with the claim a 4 year old refurbished phone would have cost me $550! End of conversation. Hung up and drove home.

Somewhere along the line the logic in continuing to pay for a warranty breaks down and fails! If your phone is new and requires replacement it makes sense to insure against breakage, loss or theft. But if your device has been paid for and is several models out of date IT DOES NOT!  Am I the only dolt who didn't get that?

I never buy a warranty. If you buy a 2 year extended warranty on a TV or electrical device it runs concurrently but only kicks in after the manufacturer's ends. So if you have 1 year parts and labor on the device you only extend the warranty for 1 additional year, but have been paying on it for two. Read the fine print or ask the seller questions! Some folks say to buy one on your computer, but more people use the one in their hand than the one plugged in at home.

Last night I was able to go online and purchase an LG G6 NEW in the box for $169. The G6 is a newer model than my phone and has similar features. One must be cautious when purchasing a phone online. Has to be for USA, should be tied to your carrier (beware of unlocked phones) and using the same wireless format. I am not going to go into the technical details since I am not a technician. But do your due diligence and research what you need. The phone is tied to my carrier and is set up for use here.

Truth be told, I should have stopped the insurance once my phone was paid off. I could have put aside the money spent over the two years and bought a phone outright. So now I know. Buyer beware.
And Assurian can kiss my rosy, red assurian!

A quick note about the impending 5G network. I was told all phones would upgrade to the 5G network once it arrives (about another year and a half in this area) without any additional cost. The Verizon rep laughed at me yesterday when I told him one of his people informed me as such. WRONG! There is only one phone in their Galaxy of offerings set up for 5G and it does happen to be the newest, latest, greatest and most expensive phone from Samsung. Motorola has one that you will eventually be able to buy a module to adapt it to the new ultra high speed network. No iPhones, LG's, Googles, Windows nor any other brands are even mentioning anything other than 4G. So you might want to hold off buying that new phone if you want to hop on the 5G network in a couple of years. Of course there are those who change phones like I change socks...once a year (or if they can stand on their own) or have plenty of cash and always want to be the first to have the new "whatever". It's just that the old or even new 4G phone in your pocket may become a paperweight when they shift everything to 5G. Just a little something to ponder from me to you.

Talk soon!