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Reply to "Mobile phone plans for kids - what are you paying?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]My teens cell phone bill is roughly $92/month each with ATT.

~ $55 for service
~ $18 for insurance on phones
~  $12 for device installment (netted for trade in of prior phone)

Is this in line with the norm?[/quote]
Why not go with a cheaper unlimited plan. I pay $45 for an unlimited plan that includes international calls with t-mobile. Also $18 insurance is high, that's $216 a year to insure a phone that is $1000, brand new, doesn't make sense to me. [/quote]

If you buy a 1200 phone and break it, you still owe the 1200, if you pay per month for 24 mos, plus another 1200 for new phone = 2400.[/quote]

If you "break it", the repair would cost about $200 to $300. Dont need to get a new phone. Say you are going to maintain a phone for 10 years, that is $2000+ you are paying. You can "break it" at least 6 times over the next 10 years and come out ahead without the insurance.

Insurance is for things where you cannot afford to pay if it something bad happens. The insurance companies have a large margin to pay for not only the payout but to run their business as well.

-Investor who specializes in Financials and especially insurance companies.[/quote]

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