T-Mobile Premium Handset Protection insurance prices changing in March 2016

TMobilemwc15

Heads up, folks, because next year, pricing for T-Mobile’s Premium Handset Protection insurance will be changing.

Assurant, the company that T-Mo offers insurance through, has posted documents that show that insurance pricing will change on March 1. Today you can expect to pay a $10 per month flat rate for JUMP! with Premium Handset Protection insurance or Premium Handset Protection with Lookout Mobile Security, or $8 per month for insurance by itself. Here’s how the pricing will look once March 1 rolls around:

tmoinsurancepricechanges

To give you an idea of which devices fit into these different tiers, a simple flip phone like the LG 450 falls into Tier 1, the Samsung Galaxy Grand Prime is Tier 2, the ZTE ZMAX is Tier 3, the BlackBerry Classic is Tier 4, and devices like the Apple iPhone 6/6s and the Sony Xperia Z3 are Tier 5. With these different tiers, you’re going to pay a higher deductible the higher that you climb. You can find a full list of devices and the tiers that they fall into right here.

One other detail that’s worth noting is that these price changes are taking effect across the country. Assurant has two different PDFs that detail the changes — one for New York and one for all states except New York — but the prices listed in the two documents are the same.

This insurance pricing change makes sense, as it means that less expensive phones — like the LG 450 flip phone — will cost less per month to insure than a device like the iPhone 6s, which has a full price that’s hundreds of dollars more than a flip phone. And hey, at least we’re finding out about it well in advance of the change rather than learning about it when the change happens on a bill.

Thanks, Daniel!

Sources: Assurant (1), (2)

Tags: , , ,

  • D. Duran

    I saw an “unrecovered equipment fee.” Would that be on top of the deductible if the device is unrecoverable?

    • (J²)

      An “Unrecoverable Equipment Fee” is assessed when a device is claimed to be damaged or malfunctioning but the customer fails to return the device. This doesn’t apply to lost/stolen devices.

      • D. Duran

        Thanks for the clarification

  • Everyone is being a comment troll. Comment removed.

    • John B

      It’s 2 bucks. Don’t get a coffee from Starbucks once a month so you can afford two months of insurance payments.

      • Everyone is being a comment troll. Comment removed. 2

        • g2a5b0e

          Price hikes are not okay? Seriously? The price of everything goes up over time. That’s just the way it works. Stop being a cry baby & deal with it. If the $2 is a deal breaker for you, then you should consider making some other changes in your life.

        • Everyone is being a comment troll. Comment removed. 3

        • Jake Fitzpatrick

          The price of everything goes up. Milk, the liquor you drink, cereal, gas, insurance, college. So get over it.

        • Everyone is being a comment troll. Comment removed. 4

        • Richard Darrington

          Well leave t mobile over it and pay way more monthly for another carrier. I swear to god I love smartphones but Some of my fellow geek buddies just cry about everything. Stfu

        • Wow the comment trolling is real. Piss off.

        • John b

          Get over it. Go cry in the corner. It’s the Internet.

        • Another comment troll.

        • tranceformer978

          Gas has been going down.

        • Jake Fitzpatrick

          It’s down now, sure. But it will go back up!

        • Adam

          When I was a kid, if you wanted the computer power of a Nexus P6, it would have cost you a million bucks, so not everything has prices going up.

        • g2a5b0e

          Not even going to begin on why your comment is stupid. What the hell is a Nexus P6 by the way?

        • Adam

          Stupid is a little hash for the simply transposing a single letter.

        • g2a5b0e

          Comment troll = telling you the truth & pouring you in your place

          Legit.

      • yankeesusa

        Coffee at starbucks is actually $4 so not getting it will pay the extra increase for 2 months!

        • John b

          That’s what I said…skip it and you can afford two months of the new fees.

  • (J²)

    This isn’t at all surprising but its the decision of Assurant not T-Mobile. The proposed charges average out, so I cannot foresee Assurant raking in too much more money from this. For those of us with a high end phone, it’s an unnoticeable $2 increase.

    In a way, a higher monthly cost and deductible will encourage those who can to simply sign up for a new phone.

    A few months ago, I was left with the option of paying a $175 deductible for an iPhone 6 replacement (the iPhone was fully paid off) or buying an iPhone 6S on JOD. A family member paid the deductible to upgrade their phone from an iPhone 5 to an iPhone 6 as they didn’t want to make installment payments. I opted to buy a new phone but had I not had a purpose for a replacement iPhone 6, I wouldn’t have proceeded with a claim.

  • Kevin

    [Insert whining about $2 price hike here] OMG I’m going to switch carrier tomorrow !!! [Insert another whining about $2 price hike here]

    • RLB63

      $2 x 6 lines is $12 more a month. Times 12 months that is $144 a year. So maybe you are made of money but not all of us are.

      Plus for tier 5 it is $175 deductible.

      So if you consider it will be $4 a month for insurance note that is $48 dollars a year per phone. THEN if you are someone that has never used insurance that is pretty steep.

      • Acdc1a

        Start carrying last year’s flagships and you’ve got no reason to pay for the insurance at all.

  • Jesus Rosales

    I have 6 lines and they all have insurance the $2 does not seem a lot but if you have multiple lines it does make a difference in your bill.

  • TaekwonBo

    Will this affect current insurance subscribers?

    • Sushimane

      Most likely I remember paying 6 dollars for insurance and then it got bump up to 8 dollars so no one is safe.

    • Acdc1a

      Certainly

  • JaswinderSinghJammu

    I am not really worried about $8, $10 or $12 but the deductible that you have to pay if you have to use the insurance. It’s a killer for sure. I would rather just buy Nexus device with protection plan or plenty of other OEMs offering some sort of protection and not have to worry about paying T-Mobile. I had to use the insurance on Nexus 6 and it was like $129 deductible.

    • Acdc1a

      Likely the new deductible is $150. That means you’d need to file a claim once every 10 months for it to be worthwhile. Most people are not in that situation.

  • Sushimane

    This is why I shop for insurance outside of the carrier offerings. For example squaretrade for 100 dollars you get 2 years of coverage covering spills and drop also malfunction deductible of 75 dollars no price increase. They cover basically everything minus if you lose your phone but that’s what lookout is for. Free shipping bad part you would be without a phone for a week or so for my nexus 5 I got it back in four days.

  • Alejandro

    I currently have the legacy $7.99 premium insurance bundle which includes lookout premium. This option goes back all the way to 2010 when I first got the service added to my plan. I am assuming I am grandfathered in as the current prices would increase my bill by 6 bucks after taxes. I don’t see anything about current insurance holders being affected but I would hope that T-Mobile would be clear that I am grandfathered in and won’t see an increase. There needs to be some clarification on this.

    • Sushimane

      No one is grandfathered into mobile insurance once it goes up everyone pay the same depending on the tier of course.

    • Acdc1a

      That would violate insurance statutes in 50 of 50 states. No one is grandfathered to insurance, check your bill.

  • kev2684

    You know what would be a truly uncarrier move? T-Mobile ditching this trash company and team up with Squaretrade for $6/mo insurance service theft included. I just made your next uncarrier move. *Sadie Saxton voice* You’re welcome.

    • Mark

      theft is not included….

      • taxandspend

        Yes, I just noticed that. The “unrecovered equipment fee”. I assumed that with Jump (I have 1.0), if my phone was stolen, it would be replaced.

        • Chris

          It will be… you’d pay your deductible as you expect. The unrecoverable equipment fee is charged if you don’t return a broken phone within a certain number of days after your PHP replacement is received. It’s a bit similar to how the warranty non-return fee works.

      • kev2684

        I know Squaretrade isn’t covering theft atm. That’s why i put there theft included in the $6/mo fee. Squaretrade offers as low as $4/mo for the insurance without theft.

  • yankeesusa

    I like to live on the wild side, i just purchased a phone this time around and skipped the extra insurance!

    • Acdc1a

      With the cost of all but Apple and the very latest Samsung devices dropping like a rock, insurance becomes less and less cost effective. You can always pick up an inexpensive cpo from T-Mobile or used via eBay. I paid $249 for my Nexus 6 for crying out loud.

      • yankeesusa

        I know what you mean. I used to get insurance from best buy when i used to get phones there on sprint. I kept insurance for the first year then cancel it. Now with tmobile i get most phones on swappa or new if it’s the right price. If any insurance is worth it it’s the $99 2 year plan directly from samsung.

        • CSR2

          these are great suggestions, the problem is the customer usually barely has the deductible money let alone , the 249.99 cost upfront for the nexus you mentioned. the best part of the bundle as an employee is the warranty portion, as many exchanges as customers requesting these days they are saving 15 dollars plus shipping which can add up quick, but if you have the means to pay for a replacement outright, then no insurance is waste!

        • Acdc1a

          The insurance deductibles at $150 and $175 are close enough to $250…especially if they pocket and save the $10-12 per month.

        • CSR2

          100 dollar difference is not close , not in today’s economy , not with all of t-mobile’s customers, once again if you are fortunate to be able to do it , then great….. not everyone’s income works like that. just being real. nothing against you.

        • Acdc1a

          In ANY economy if you can afford $10 per month and a $150 deductible, you can afford a $250 replacement and put that $10 back into your pocket. There is no justification for what insurance costs on a phone. If you can’t afford a $250 replacement, pick up a $100 throw away…there, I just saved the poor economically challenged person $50 plus $10 per month.

        • Mike

          The only reason carrier insurance is popular is because they cover loss&theft unlike the competition.

    • Adam

      I’m going to take that $10 a month and put it in the stock market. I’m rolling the dice, hoping it will grow faster than my phone breaks.

      • JLV90

        Make sure to use the robin hood app so the trades don’t have a fee :P

        Good app but kind of limited on info still way better than throwing away the transaction fees other stock market services charge

        • Adam

          Nice find. Brokerages are getting more competitive than cell phones.

  • S Dot

    They did this before…I was proud of them when they went to a flat fee…it made it simple…the deductibles were always going to be different, but this does make you consider other insurance options..possibly by purchasing the phone with a certain credit card

    • Medion

      Just check your warranty exclusions on your credit cards. Cellular phones are starting to make it onto some of those exclusion lists.

      • JLV90

        There’s also free cell phone protection with some credit cards if you autopay the bill. Wells Fargo does up to $600 reimbursement with $25 deductible on the first 4 lines on your account

  • AS118

    With the deductibles being so high that you could almost buy a new phone for that price (or actually buy a new phone for that price) insurance seems like less and less of a good deal.

    An Alcatel Idol 3 for instance is only $250, and the 4.7″ version is $200. Once I replace my phone, I’ll probably just not get insurance, considering that I’ll probably get a cheap phone anyways.

  • Android_God

    That’s pretty amazing that the monthly cost is actually going down. Is there a catch? Did they raise the deductible?

    • JBrowne1012

      The catch is is that it’s not going down. Most cell phone buyers fall under Tier 4 and 5 that’s an increase for a lot of people. Considering Phones in tier 3 and below are likely to be less than $300 tier 1 and 2 probably $100 and $200 respectively those tiers insurance should be like $5/mo

  • Jesslyn Hendrix

    I think this is finally my breaking point. I’m going to have to wait until I have the $ for a new phone and just buy it outright. I’ll add a personal property rider to my home insurance for the phone

  • Joe

    I’ve never bought insurance for any of my phones and I’ve never needed to. I’ve always bought cases for each phone and I take care of them. Always thought the insurance was a scam anyway. Paying $10 a month plus $100 deductible for something you might not even use.

    • Jason Crumbley

      A case doesn’t replace a lost/stolen phone. How much do you pay for car insurance that you never use?

    • David

      I had a LG G4 go randomly into a boot loop that couldn’t be corrected (re-flashing or resetting did nothing.) Got a new phone overnighted. This is the first time I’ve had to use the insurance in 12 years. But as they say, there are two kinds of people in this world: Those who have experienced a crash and those who will….

  • matt

    if you have an iPhone covered by square trade, they won’t even charge you a deductible for a screen only claim. this happened to me just 2 weeks ago. i dropped my 6s+ and broke the screen. it costs 149 plus tax for a replacement at the genius bar. square trade clearly stated they were waiving the deductible , and they reimbursed me 149 plus tax the very next day to my paypal account

    • NEO2U

      I had Square Trade on a phone before and I contacted them and let them know I wanted to quit making payments. They sent me all of my money back….who does that. It was unexpected.

  • Rob

    Meh, I have Jump 1, 2 bucks is worth it for me to be able to get 2 phones a year.

  • steven berson

    Might drop jump 1 for jod. Rarely actually use the insurance. Now that its $12 for jump 1 might as well get jod and no insurance. $144 annual saving not too bad.

  • Jason Crumbley

    That’s kind of BS for people still on the original Jump program.

  • Zach Mauch

    I have not have insurance for ten years and I’ve never regretted it. I’ve save close to $1000 total now. This has never been worth it and it is just getting to be more and more of a rip off.

  • Billy

    John Legere, could make T-Mobile even more money if T-Mobile replaced these phones themselves with the same restrictions. I’d happily give them my money knowing I’ll get my loss phone head-ache free within 24 hrs! That’s something to really think about John! I refuse to pay $12 a month and it could take up to a month for Asurion to send one to me because they don’t have that phone in stock! And, I can honestly say when things like that happens as involved as John Legere is with T-Mobile you can tell he doesn’t care! A true leader is not only involved in building up their business (sales) but also the after care, keeping us satisfied!

    • Billy

      Correction Assurant!

  • Romdude

    Still worth it for me. Even when I don’t use the JUMP part, just the 3 replacements for my phone is well worth it.

  • Glen Baerett

    For $10-15/month you could get what’s called a “rider” from your homeowners or renter’s insurance that covers all electronics in the house, including your cell phone.

    I have $10,000 in coverage which protects Computers, laptops, TVs, projectors and Blendteck Blender, even the T-Mobile microcell (still waiting for T-Mobile to improve coverage at my home.)

    Insurance coverage runs $13.50/month; $100 deductible, so it’s a lower deductible than TMobile; and also covers more in the home (unlike the cellular coverage).

    • (J²)

      Most home owners/renters insurance plans already include lost, stolen and *some* instances of damage to electronics.

      Unfortunately, many insurance companies will only pay you for what you’ve paid on the EIP and not the full retail price. In reality, they are only obligated to pay you the market or actual value (depending on the terms of your policy) they are not obligated to pay you for future expenses.

      Of course, that’s less your deductible. It’s also worth mentioning that the deductibles for home owners/renters insurance are hard to find below $250, $500 seems to be the industry norm. (for good reason, to prevent claims for lost cell phones)

      Like Auto Insurance companies, claims filed are listed on your “permanent record” and could lead to a rate increase and if you try to shop around, you’ll see that the insurance companies already have record of your previously filed claims.

      Don’t get me wrong, it’s a good idea but with potential consequences. The insurance companies intentionally invoke such a system to deter their insured from filing small claims. After all, if your $13.50/month plan becomes $53.50/ month (still affordable), it may no longer be a good idea to rely on home owners/renters insurance for device protection.

      With Handset Protection plans, you can at least be assured that the rate will not spike for filing a claim.

      I recently shopped around for better renters insurance and noticed:

      A) It’s hard to find a low deductible for a decent price
      B) Previous claims are on record and ruin any chances of receiving the lowest rate.
      C) Even if you do manage to secure a policy that meets your needs, it is subject to change (increase) if you file claims.
      D) The steps required to file/complete a claim are not worth saving a few bucks.

      If you are someone that has never filed an insurance claim, I’d say go for it but if you’ve filed one claim every 2 years I’d steer clear of this.

      “Protect My Bubble” offers $5.99/month insurance (excluding lost/stolen) for phones and tablets regardless of purchase date or phones age.

      Owning an iPhone with appropriate protective casing, my phone is more likely to be attractive to thieves (per my experiences and according to studies) so Protect My Bubble isn’t a realistic solution for me.

  • JBLmobileG1

    Just wondering…. I have the old jump! for $10 a month which includes insurance… if this rate is hiked and you cancel jump! because of this price hike won’t they charge you the remaining balance of what you owe on the phone? While it’s only a small hike it’s one none the less. You think they would be breaking some type of contract. While contacts for the plans themselves are gone there still is one for the phone when you are paying off the EIP. If they are raising the insurance, the right thing to do, would not charge you the extra price hike until your existing EIP is over with….. that or credit you the couple of dollars extra per month until your phone is paid off. While it’s only a couple of bucks, that couple of bucks does add up, and for some they may already be in a very tight budget as is. I think the best think for Tmobile to do would be to cut the middle man completely and create their own type of pho e insurance. The deductibles on the phones alone are a rip off. In fact the only reason I pay the current $10 for jump! 1 is for the two phones a year and the Lookout Premium as I am pretty careful with my phones to begin with.

    • Christopher Olson

      You don’t have to participate in jump top have a phone on eip. So you can opt out of jump anytime you want to and continue to pay on your phone until the balance is paid. So there isn’t any breach of a contract or obligation that you have to pay the higher rates.

      • JBLmobileG1

        That’s good to know. Thanks for the reply. While I still plan to continue jump!… I really do think Tmobile should take the insurance into their own hands because $12 a month plus another $175 deductible is dumb. I take care of my phones and never lost or broke them but the insurance is good to have for that “what if” does happen. I like the older jump! because I don’t have to pay over half the phone to get another if I wish and I still have the insurance and Lookout Premium. Plus I own the phone and it’s not a lease (so if I choose to keep it, or if there is nothing I want at the time, I don’t have to worry about turning it in later or having to pay a lot upfront) Too bad there wasn’t options where you pay less per month but have a higher deductible and for the more accident prone customers… You pay more per month but with a lower deductible. Like $5-$8 a month but with a $200-250 deductible and $12-15 but only a $50-$100 deductible. Not exactly like this but you get the picture.

    • Pookieg Tisha

      There are actually some rules on that if they make a change that was not in the contract you have so long to discontinue the service when you are notified of the change. Now I am guessing tmoblie knows this since I have read it everywhere.Although worth a shot of looking through the the contract or agreement you signed if it was not a change opted in as a possibility on that document you should be able to get out of it. I have also heard they have to give you a copy anytime ask of your agreement so I would just read it well and ask them know my choices. GOODLES LUCK!

  • duckforlife

    LG450 MSRP is $59.99 I think. Deductible is $20. Deductible is 30% of phone’s MSRP. Ridiculous.

    • bob

      just don’t get insurance…

  • Deswaga

    Good that my EIP has just been paid off and my phone is good for another year or more :). So my insurance will be going in the bucket plus who needs Lookout Mobile when you have Prey app.

  • disqus_DFnvXJ7c9h

    Their tiers are all wrong. My LG G2 is listed Tier 4 stated at up to $700. Tier 3 is stated value up to $500.. I don’t know where they are getting their numbers from but the LG G2 is no where near even $500 NEW.. let alone $700!! Heck it wasn’t even $700 when it FIRST CAME OUT!!! Their tiers are inflated and based on the amount of them out in the wild and not their stupid pricing scheme they list on that site.

  • Topher1013

    I feel like for customer that never use it should have a vanishing deductible like insurance. That’d be well worth the hike price or yes a lower deductible for someone who’s in Tier 5 like me. I don’t think it’s a lot but that’s a extra 8 bucks a month. That’s 96 bucks a year. You already hiked up the price of unlimited data, and now insurance. Oh no we got another Verizon up in here.