Verizon "Total Equipment Coverage" Recommended?

[milechazzer]

I just ordered the new Blackberry Q10  from VZW (for $200+sham fees w/2yr renewal), and of course they're offering me their "Total Equipment Coverage" for $6.99/month.  The terms for blackberrys and most other smartphones are the following (the detuctible is higher for iPhones):
•Advanced Devices ◦$6.99 per month per covered device.
 ◦$99 non-refundable deductible per approved claim.
 ◦2 replacements in a 12-month period with an equipment maximum of $1500 per claim (in New York, 2 claims per policy year)

Would appreciate any insight into the VZW coverage, and whether anyone would recommend this, or some alternative coverage for my new blackberry. 
Wouldn't most issues be covered for the first year by the Blackberry warranty? Doesn't verizon also provide warranty coverage for the first year?
Would Amex extended warranty cover a purchase like this for the second year (up to the $$ amount that I paid verizon for the "upgrade")? 

thx

[lfas25]

I just ordered the new Blackberry Q10  from VZW (for $200+sham fees w/2yr renewal), and of course they're offering me their "Total Equipment Coverage" for $6.99/month.  The terms for blackberrys and most other smartphones are the following (the detuctible is higher for iPhones):
•Advanced Devices ◦$6.99 per month per covered device.
 ◦$99 non-refundable deductible per approved claim.
 ◦2 replacements in a 12-month period with an equipment maximum of $1500 per claim (in New York, 2 claims per policy year)

Would appreciate any insight into the VZW coverage, and whether anyone would recommend this, or some alternative coverage for my new blackberry. 
Wouldn't most issues be covered for the first year by the Blackberry warranty? Doesn't verizon also provide warranty coverage for the first year?
Would Amex extended warranty cover a purchase like this for the second year (up to the $$ amount that I paid verizon for the "upgrade")? 

thx

If you loose the phone they cover you as well.

I believe from previous posts on this site AmEx does not cover cell phones.

[milechazzer]

If you loose the phone they cover you as well.

I believe from previous posts on this site AmEx does not cover cell phones.

So aside from the concern for loss/theft, I would be covered by Verizon/Blackberry for the first year anyway.
What would my options be for year 2 then? I don't think you can sign up for Verizon coverage unless you get it when the phone is new.

[alpicone]

If you put in a claim for an iPhone with a bad battery do they make you return the old phone?

[shmebeble]

If you put in a claim for an iPhone with a bad battery do they make you return the old phone?

If they replace the phone they require you to send in the old one.

[real-brisker]

If they replace the phone they require you to send in the old one.

+1
They always ask for it back. And they charge for a smartphone $500 if they don't get it within a month.

[Moshe123]

It pays to pay this fee IMO.

[real-brisker]

It pays to pay this fee IMO.

Explain? $500??

[Moshe123]

Explain? $500??

The insurance. It's only $168 for 2 years and there is a 50% chance that you will need the coverage.

[shmebeble]

The insurance. It's only $168 for 2 years and there is a 50% chance that you will need the coverage.

Especially with an iphone that is very fragile.

[Moshe123]

With Sprint, you pay double and it still paid for me because my wife dropped my phone into water....
Amex paid for the $150 deductible + some $100 for paying the entire amount that I paid for it originally...

[noturbizniss]

The insurance. It's only $168 for 2 years and there is a 50% chance that you will need the coverage.

Why is there 50% chance you would need coverage?
If you lose the phone 1 time then you would pay 168+100 which is $268 over 2 years. You know you are getting a refurb when you get it replaced so figure the total cost there is 300-400. so your only getting at most $132 in value.  If you need a replacement more than a year out, then you can probably get the refurb or used phone for even less online so you aren't even getting the $132 value.
Given that you are more concerned with defects and things covered under the warranty, and do not seem to anticipate loss/theft/unrepairable damage, the AMEX extended warranty would cover you up to $200 in year 2 so you are getting very little value out of it.  I don't get warranty coverage anymore, it's not worth it.
FYI, I work with some warranty actuaries and the industry trend will be moving toward $150 deductible for the top line phones (GS4, HTC one, etc.) which will make it even less valuable).