yashsingh1/xdaforums huggingface dataset:
[Nexus 6P General] ziich:
I was interested in getting the nexus protect until I heard that it was done through asurion. I had them with a couple galaxy phones on t-mobile and every replacement device I have gotten has had some sort of glitch or problem which would require to me get it replaced again. I definitely won't be getting nexus protect
[Nexus 6P General] newtonfb:
I am in the same boat, if anyone can PM me a square trade coupon code I would love it.
[Nexus 6P General] FuMMoD:
I would love a square trade coupon too
[Nexus 6P General] jal3223:
I don't believe it's through asurion. The company is assurant protection. I'm pretty sure it's a different organization all together.
[Nexus 6P General] CarlosAbia:
What I don't understand is how does it work.. If I crack my N6P, I call and get a new one (refurbished or whatever) and I get to keep both (the broken and the new sent to me)? Because lost or stolen is a big deal for me, I always use cases and screen protectors so physical damage isn't the problem, wouldn't make sense to get this at all
[Nexus 6P General] lin013190:
i think they ship you a new phone the next day and you have to ship the broken one back.
[Nexus 6P General] zoddfrank:
Buy the best 128 GB model and then say that :P
[Nexus 6P General] SymbioticGenius:
Why would I order another 128GB when I already pre ordered a 128GB in Graphite Gray the moment it was released...?

I don't need two phones silly goose... :p

Sent from my Nexus 6
[Nexus 6P General] ziich:
My bad Jal3223 I got the name wrong. Your right it is assurant solutions. They are the same guys that handle insurance claims for the carriers( at least t-mobile and sprint). And the ones I meant.
[Nexus 6P General] razor237:
I decided to cancel my order and get the 128GB model minus the google protect. I'm hoping i can find a square trade coupon now seems like the better option :) ....My verizon line has Asurion on it but dont think it will cover a non verizon phone.
[Nexus 6P General] cb474:
Actually, that's terrible.

I feel this is going to fall on deaf ears, but people, this kind of phone insurance is one of the most extreme ripoffs in the world. All of these plans, no matter who is offering them.

You have to think about what is essentially insurance in terms of the amount of coverage you get per dollar spent for the plan.

So with Nexus Protect you pay $89 plus $79 deductible for two years of coverage. So let's say you buy the least expensive phone for $499. You are paying $89 to insure yourself against a possible loss of $420 (the phone cost, less the deductible) over a two year period. That means for every $1 you pay, you get $9.44 of coverage per year.

Compare this to something like a automobile insurance plan. For a good (not cheapo) plan, you might pay $600 per year for $500,000 worth of liability coverage. That means for every $1 you pay, you get $833 worth of coverage.

See the difference? In one case you get $9.44 coverage per $1 and in the other you get $833 worth of coverage for the same price. The auto insurance represents a good normal type of insurance to get. But, for phone insurance you are being taken to the cleaners.

These type of phone plans rely on people being overly worried about small losses and unsophisticated about finances. So they insure against losses they can afford (like a couple hundred dollars for a phone), while ignoring much bigger risks (say by going for the lowest possible liablity coverage on their car). The things you need to insure against are the big losses that could ruin you life, like a $500,000 liability claim.

But for small losses you always pay through the nose, even though you could afford to absorb the loss if it happened. And in the long run most people will spend far more money on insurance against small loses than they will ever recover. It's just a scam.

People also need to understand that companies like Google do not actually run these warranty and insurance plans. It's big Wall Street financial firms that finance them and run them for other companies. These are companies that spend all their time doing the numbers and figuring out deals that superficially seem good, but really just make them a ton of money at everyone else's expense. If you think that you are smarter than the Wall Street firms and have figured out something about money that they haven't, you're fooling yourself. There's always someone on the other side of any transaction that you make; when it's a huge financial company, who do you really think knows what they're doing and is on the good side of the deal?

So, to sum up. Don't insure yourself against small losses. You pay through the nose and it's not worth it. Yes it would suck if something happened to your phone, but it's not going to ruin your life. If you can afford a $499 phone you can afford to replace it if you have to. If you have $89 burning a hole in your pocket, put it in a savings account and hold onto it for a rainy day (like when you lose your phone). Or use the $89 to get a higher liability level on your auto insurance and insure yourself against the real losses that might ruin your life.
[Nexus 6P General] _Dennis_:
I don't do minimum insurance for anything I insure. I get what I feel I need.

For this I agree, mostly with you. But if you know you'll damage your phone it's not bad.

Personally I'm debating if I get the N6P to get insurance or not. I have 2 and a 4 year old at home, plus I'd be getting the 128GB version. While the cost per dollar insured is high, the potential to save is high.

What you didn't take into account in your equation is potential to require insurance. You get more insured for less with car insurance, but with the deductibles set where they are you don't use insurance if you scratch a door or something. If I crack the screen on my phone I'd use insurance, as the screen is more costly then the deductible usually.

Insurance on phones may not be the best idea for everyone but in some cases it is a good idea.
[Nexus 6P General] cb474:
Well, some people have no deductible on their car insurance or a very low deductible. And they do make claims even for little dents. But this is the same mistake as buying insurance for a phone. For a low deductible your rate goes way up. You pay the most for those first few hundred or thousand dollars of insurance, because the insurance company knows that is the claim they are most likely to pay. But it's not worth it. It's far more likely you will pay much more in your higher premium than you will ever claim for little dings. Meanwhile, the same people tend go for the lowest liability coverage, as little as $30,000--meaning that while they are worrying about dings, they are almost certain to be financially ruined if they ever get in a serious injury accident that's their fault.

So I just disagree. The phone insurance is never worth it. It is a misjudgment of the risks that are important and the relative costs. As I said, if people have extra money for insurance they should spend it on higher liability coverage for their car or on a personal umbrella policy (you can ususally get $1 million of coverage for about $100/year). The point of insurance are the big things that could financially ruin you, not the little things that you can afford, even if they are annoying.

Part of the problem with your logic is when you say "if you know you'll damage your phone." You don't know that (unless you're doing it deliberately). The nature of risk is that you don't know for sure the outcome. Anyone who thinks they know is really just gambling. If everyone really collected on their phone coverage every time, no one would be able to buy this insurance, because it would just be a huge loss for the insurance company. And indeed, if you make a claim on every phone you get, pretty soon I bet you won't be able to get these policies. Insurance companies keep track of people's histories. Just as if you make claims for every little ding, your auto premium goes way up.

Insurance companies are not in the business of making bad deals. It's like casinos, the odds are always in favor of the house. The reason you pay for insurance is to protect yourself against real risks. Not because you might come out ahead financially, which is almost never the case.

You are also wrong when you say "the potential to save is high." The potential is not. Even if you get the most expensive 6P ($649) the most you will save is $481 (the price of the phone less the premium and deductible). That's nothing, for someone who can afford this phone. That is not a "high" saving. A "high" saving would be having insurance when someone wins a liability claim against you for tens of thousands or hundreds of thousands of dollars. For anyone who can afford a $649 phone, a $200 or $400 loss is not a significant loss, nor is it a significant risk.

So, it's just wrong. Insuring oneself against small losses is always a mistake. But it's how insurance companies make most of their money, because they know people don't get it.
[Nexus 6P General] _Dennis_:
Here's your mistake, as I see it. If I have $1000 for personal spending a year let's say (my Christmas money for myself). I then buy this phone. I can't afford (without using savings or going over my budget) a second new phone. Insurance is only $168 after deductible and premium. I now have my new phone, and am still under my budget.

To claim it's a bad deal for everyone is to assume everyone has the same financial goals. Unless you can show me that everyone who gets the insurance pays more then what is claimed by the company, or that they are unfair in their practices you can't claim it's a bad deal for everyone. Each person has to weigh the likelihood of them breaking their phone (kids plus clumsy etc), the cost of replacing their phone, and the cost of insurance. For some that may mean high likelihood of damage, high cost of phone (you claim $649 is cheap, its not to me. That's one weeks paycheck) and the cost of insurance isn't to great ($89 if I never use it, $168 total if I do.) That's just more then 1/4th the cost of a new phone to get a new phone if I I break it. If I don't I've added 13% to the cost of the phone.

If $649 is nothing to you, sure its a waste of money. You say insurance companies always win like casinos, while I agree they make more money then the spend, the same goes for other insurance to. If you never use your car insurance you lost a lot of money, you get it in case you need it. Your example for a car was crap, I pay $2256 a year for $500,000 liability, plus full coverage etc on my car. Let's say everything I'd get, if I max my coverage in a crash is $1,000,000. Now I probably won't get in an accident in the first year, let's say it takes me 10 years before I use my insurance. That's $22,560 in premiums, plus $500 deductible. $23,060 for 1,000,000 that's what just over $43 for every $1? What if I don't use it for 15 years?
[Nexus 6P General] mehdi_s82:
Well said. I cancelled my Nexus protect.
[Nexus 6P General] Gall1200:
I skipped it, as I am not an us resident.

But if I was, I would take it
[Nexus 6P General] Semseddin:
I never needed such protection. They send you a refurbished one instead of new as far as i understand in USA, that is not acceptable for me. Why get a serviced device, instead of new ? The price of a phone usually drops to half of its initial price in a year, so i see no sense paying 150$ to insure anything that will be 300$ in a year. I also don't trust insurance companies, it is their job to suck your money with your own will, like this :)
[Nexus 6P General] _Dennis_:
Cool, I'm not going to argue. Make grandiose statements, pick a time frame for your argument (1 year) that makes it sound good. Of course over 1 year phone insurance is less worth it the car insurance, but the phone insurance is 2 years (about how long most people keep their phones), same price by the way. Your car is paid monthly/yearly and you keep it longer. But let's ignore facts that don't fit our narrative.

Good day sir.
[Nexus 6P General] Aridon:
The reason the phone insurance isn't a great deal is between the deductible and the payment you are essentially paying for a broken screen already. Which, if you run the odds, is the biggest item that comes up with these plans. So unless you are simply a clutz who drops their phone so much that the regular protection you get with the case isn't enough to save you then maybe its a good deal if you'd normally break it twice in a year. Otherwise all you did is pay for a new screen up front.

I realize people like the peace of mind aspect. All the more power to you if that is the case.

Regardless insurance is a personal thing. It is a gamble one way or another. I don't buy it and the only screen I've busted was my Note 2 which oddly enough still works with the crack and I never replaced it. This is now my backup phone should my OPO go tits up.
[Nexus 6P General] _Dennis_:
[emoji106]

Like I said, done arguing. Neither of us will change our minds. Maybe your right, I'm certainly not a financial expert. I have no idea what your day job is, maybe you are a financial expert or just some guy who hates insurance companies, I have no clue.

With that being said I am glad we had this discussion, it may have help someone decide the cost/risk analysis for phone insurance or car insurance or whatever.
[Nexus 6P General] cb474:
That's not exactly the reason phone insurance isn't a good deal. It's one example of how the costs do not outweigh the benefit. But rhe general reason, as I've explained at length above is the cost per dollar of coverage compared to other insurance and the relatively negligible downside of not having the coverage.

It is true that people like peace of mind and use that as a reason to purchase insurance. But that is essentially making a financial decision, based on emotions. I would not say "all the more power" to people for that. Emotional appeals, above all else the notion of "peace of mind," is the classic way insurance companies manipulate people into buying insurance products they don't need (as well as scams like extended warranties, etc.). So people would in fact have much more power over their finances if they could learn to do the math, think in terms of probabilities and the nature of risk, and divorce their emotions from it.

Indeed, as I point out above, people more often than not get peace of mind out of protecting little things like phones or having low deductible on car insurance to fix small dings, even though this costs them a lot and it is just peace of mind about material possessions. But then they only have a $30,000 liability policy on their car insurance and don't worry at all about how they are not protected in a serious injury accident and their life could be destroyed. So people tend to be led astray about what gives them peace of mind, while ignoring what they should really worry about.

(I also honestly think that most people just care more about their personal possessions and immediate material gratification, than whether or not they might injure or kill someone in an accident or abstract things like the unlikely but devastating event of future possible financial ruin.)

I would also really not say insurance is "personal" or a "gamble one way or the other." You can do the math on insurance and make good decisions (for your own financial well being) or you can just be touch feely about it and make bad "personal" decisions (which is what most people do) and these bad decisions really do hurt a lot of people. And saying it's a gamble one way or the other is really acting as if all risks are the same. You can gamble that you don't need insurance on your phone and if it gets lost deal with it; that's an okay gamble. But gambling that you don't need good car liability coverage is gambling with personal and financial destruction; that's a bad gamble. People would be much better off if they learned to think about these things clearly, struggled a bit with the complexities, and didn't come up with misleading short hand ways of making decisions (e.g. peace of mind, it's personal, everything is a gamble).
[Nexus 6P General] htowngator:
If you don't want to pay $150 for a busted device (screen crack, for example) then that's fine. It's your own risk to say you won't break it vs spending $150 to replace it in the event you do trash it. I guess if you can make it a full year then yea cancel NP at that point and you only lose $45.
[Nexus 6P General] dsf767:
I didn't get it I was tempted but I am really careful with my phones always use a screen protector and good case.
[Nexus 6P General] htowngator:
Like I said, I understand the thought process, but for me trading $150 for a brand new device is worth it over paying $550 again. If you end up not using the warranty after a year and just want to cancel then you're only out half the cost of the initial warranty ($45). I think that's a reasonable cost to gamble for peace of mind.
[Nexus 6P General] jasoraso:
I've skimmed through your analysis of $/insurance coverage etc., and much of it makes sense. However, one principle I didn't see in my skimming (forgive me if I missed it) is the effect of the likelihood of a needing a particular part of the insurance coverage, the ODDS. Insurance is all about playing the odds, plus protecting yourself against an outcome you can't or don't want to live with. The likelihood of a significant claim on liability coverage on an auto policy is quite low - and that is what drives the price of that coverage down. The likelihood of a claim for a replacement screen is quite high, and that is why the $/coverage is significantly higher when comparing it to an auto or homeowner's policy. Insurance is about odds. In the immortal words of Clint Easthood: "Do you feel Lucky?"

I've been driving cars for 20 years now and haven't needed to make a claim on my insurance policy once. I've owned homes for 20 years and have yet to make a claim on my homeowner's policy. I've been carrying phones for 15 years now, and I've broken about 5 screens, and those are all in the last five years, corresponding with bigger phones, bigger screens, and smaller bezels, 5-6 kids in my home, and a home with tile floors. The odds of my phone's screen breaking are quite high - therefore it MIGHT be worth it. The first replacement screen on the Nexus protect policy breaks even (approximately) - I replaced a Moto X 2014 screen for $125 with a replacement from Motorola, and a Nexus 6 replacement after a broken screen was $175. Those were with no insurance coverage. Comparing the Nexus Protect policy against those instances, the Nexus Protect doesn't really make sense unless I break the phone 2x. Except, Motorola is a "U.S." company, and obtaining a replacement was relatively straightforward. Replacing the 6P from Huewei might not be as straightforward. Give my recent history with phones (I live in a home with 6 children, tile floors, granite counters etc), I signed up for the Nexus Protect policy and figure that the odds of me replacing the phone at least once justify the peace of mind of paying for the up front $80 or $100 cost of Nexus Protect.
[Nexus 6P General] rlivin:
How many replacements can you get with the google protect? I know with Verizon (asurion) you can get 2 per year per line. With Verizon i pay $5.10 a month and $100 deductible each time and it covers anything. I have used it several times and very happy with it. But if I can save money I would switch.
[Nexus 6P General] prometheus1010:
Your failing to account for the cost of damage vs. the cost of insurance. Crashing your car is much rarer, but can be very very expensive even catastrophic in comparison to the insurance you pay. Getting a cracked screen fixed is going to cost you about as much at the insurance plan plus deductible will cost (possibly less). Your basically just prepaying to fix it with the assumption you will break it. You'd have to completely trash the phone to make it worth it, which is much less likely. Even so these devices depreciate quickly, especially once the replacement is announced. The Nexus 6 was released at a price of $649 and only a year later can be had brand new for $299. You need to assign a really high probability of trashing your phone within the first year to justify this expense.
[Nexus 6P General] jasoraso:
You're right about that :)
[Nexus 6P General] cb474:
I don't have time to respond in more detail right now. But you also have to take into account how else you might spend the money, which is part of my point in my posts above. Spending the money on one thing (phone insurance), precludes spending it on something else (more liability insurance). Hence, buying phone insurance when you are underinsured for car liability coverage (as most people do with their cars) is a misallocaiton of resources and a failure to cover the biggest risk first, even if they are less likely to happen. Even if you have enough liability insurance, you still have to consider the opportunity cost of not just saving the money spent on phone insurance instead. In one particular case you may win or lose that gamble (odds are on lose, even if its a relatively more likely gamble to pay off), but over a lifetime of buying unnecessary phone insurance and extended warranties, as opposed to saving the money, you will almost certainly lose (and this is the calculation insurance companies do), meanwhile the downside of risking not having the phone insurance is not very much.
[Nexus 6P General] lin013190:
do you think we can replace our phones with a different color from what we bought from?
[Nexus 6P General] [hfm]:
If you cancel and reorder, sure.
[Nexus 6P General] lin013190:
I mean with nexus protect replacement
[Nexus 6P General] [hfm]:
Since nexus protect has never been a product until now, and those phones haven't shipped yet, not sure how anyone is supposed to know something this specific.

I would imagine they would tend to not do that so people don't just slam their phone down onto a sidewalk because they want a different color. But there's no way for anyone to know that yet.
[Nexus 6P General] lin013190:
Confirmed
[Nexus 6P General] vinokirk:
How much is the Nexus Protect warranty in the UK?
[Nexus 6P General] mentalcase87:
I know the thread is a little old, does anyone possibly have a spare code for squaretrade?
[Nexus 6P General] gtg465x:
Speaking of liability coverage, what do you have? I have $100,000 / $300,000 (per person / occurrence). Should I bump to $250,000 / $500,000 or get Nexus Protect lol?
[Nexus 6P General] Won't be druv:
I don't think it's available yet.
[Nexus 6P General] zgroten:
Where did you find your coupon code?
[Nexus 6P General] FuMMoD:
I would love a coupon code for squaretrade
[Nexus 6P General] cecho:
I would love a square coupon code as well. I'm curious on when I have to purchase the warranty. I believe it says 30 days after order date, but I ordered from Huawei and was charged on order date, but may not receive the device for another few weeks. Do I need to purchase the protection now? Thanks.
[Nexus 6P General] diehardfan:
Can someone give me further clarifications on Nexus protect.

Scenario:

A: Say if I do buy Nexus protect, 9 months into ownership of the device the speakers stop working. This claim should fall under manufacture warrant. When I file a claim will I still need to pay deductible/service fee?

B: Say if I do buy Nexus protect, 1.5 years into ownership of the device the speakers stop working. This claim should fall under manufacture warrant. When I file a claim will I still need to pay deductible/service fee?
[Nexus 6P General] tech_head:
From the Nexus Protect Site:

Your Nexus phone comes with a 1-year manufacturer’s warranty. With Nexus Protect, your phone gets an additional year of coverage for mechanical breakdown and 2 years of protection from accidental damage. Nexus Protect is $69 for Nexus 5X, $89 for Nexus 6P.¹

I would say, if you didn't damage it and it just stops working; in both cases you pay nothing.

When you have Protect, either claim would go through them.