You may have only paid $200 for your latest smartphone, but if you had to replace that device before you are eligible for a subsidy from your carrier it cost your more than $600. Is it worth it to get device insurance?
That's the question I answer this time in Ask Maggie. I also offer some advice to an Apple iPhone fan who wants to know if he should wait for the next iPhone rumored to be out in June or July.
To buy insurance or live dangerously without?
Dear Maggie, I am getting my son an iPhone 5 for Christmas. I was wondering if I should also consider getting an insurance policy for the phone. Is it a good idea or a waste of money? Would I need to get Apple Care in addition to an insurance plan? And do you think I should get the insurance from a carrier or through a third party company?
Thanks, Karen
Dear Karen, The problem with buying any kind of insurance is that you simply don't know what will happen in the future. If your son's new iPhone is lost, stolen or damaged in the first few months of owning it, then it's a terrific bargain. But if he goes two years with not so much as a scratch on his precious new gadget, it's a waste of money.
(Credit: Apple)
Some people would rather save the money they'd spend on the insurance premiums and deductible, and hope nothing bad happens to their gadget. While others would prefer to have the peace of mind that comes with k... [Read more]
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