mobile phone insurance

Why doesn't T-Mobile insure the iPhone X?

Episode 1448

Mike from Tinley Park, IL
Apple iPhone X

Mike got an iPhone X on T-Mobile from the Apple Store. He took it to T-Mobile to activate it, but found out that T-Mobile won't insure it. Leo says that's because Mike bought it from Apple, not T-Mobile. So Apple Care applies. Leo tends to self-insure because extended warranties are profit centers for the seller. But the iPhone X is very expensive to repair or replace. So he does make an exception with Apple Care, but he'll want to get Apple Care Plus. If he breaks it once, it's probably going to pay for itself.

Should I buy phone insurance?

Ed from San Diego, CA

Episode 1236

Ed says he likes mobile phones, but they're slippery and he's worried about breaking them. He doesn't know what phone insurance program to buy. Leo says that the devil is in the details. There's usually a deductible and a limited number of times he'd be able to use it. Leo advises adding the deductible to the cost of the insurance and see if it's worth investing from that perspective.