![]() I spent as much on AppleCare as I would on an iMac, MacBook Pro, or high-end iPad Pro.Īfter the shock wore off, I began to feel like a perfect ass. The first thing I did was tally up the cost of ALL the AppleCare I've purchased since Fall 2018. In contrast, the insured often relies on a recollection of their history and a ton of emotional reasoning to decide if they will be the statistical oddity to make "a profit" of having bought insurance. The insurer relies on market data and analytics to set the price of their insurance, ensuring their model remains profitable. On the other hand, the insured is gambling on the fact that they are just blunderous enough that the cost of any future repair will offset the upfront cost of the insurance. The insurer is running on the business model that more people buy insurance than claim insurance, and therefore as a whole, the industry remains profitable. The basic premise behind insurance is that at the onset of a transaction, two parties meet & make a wager where the insurer promises to cover the cost of any accidents that may occur over a specific period if the insured is willing to pay a specified amount upfront. Insurance has to be one of the most interesting of humanity's creations. I buy a lot of AppleCare - probably 80-90% of my products get coverage - but I never sat back and calculated 1) the cost of all these extended warranties and 2) if I was coming out on top, breaking even, or hemorrhaging cash. Initially, I was incredulous at Wes' position! But the more I thought about it, I realized I had no true sense about my AppleCare spending. Initially, I agreed with Stephen, the cohost whose opinion, and this isn't a direct quote, was: "AppleCare All the Things!" This ran opposite to Wes' argument he maintained that he saves money not purchasing AppleCare since the cost of any out-of-pocket repairs incurred is less across time than if he has purchased AppleCare. I wanted to find out the answer to this question after listening to an episode of The AppleInsider Podcast where the two hosts spoke about whether the merits of paying for repairs out-of-pocket is less than the cost of AppleCare purchases. After all, Apple not only tends to focus on incremental hardware updates, but it also provides consumers with the option to get hands-on with its devices in stores or use online tools to further customize a product to their exact liking.Do you know if you are paying more for AppleCare than you are for the repairs you claim through Apple's extended warranty program? Whether it's updating to a newer iPhone, switching to an M1 MacBook, or making sure their Apple Watch is equipped with the latest technologies and sensors, the customer will know what to expect. However, for folks who are buying an Apple device for the first time or for someone else, then it is worth being aware of the finer points of Apple’s return policy.įor most existing Apple customers, buying a new device is simply a matter of upgrading. ![]() Generally speaking, anyone buying an Apple device will likely know what they are getting in advance and can expect to be happy enough with their purchase. But that's only true if you make the return within a limited time frame. Apple allows consumers to return products purchased directly from Apple's website or one of its retail stores - including iPhone, iPad, and Apple Watch models.
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