IS TELEPHONE "LINE GUARD INSURANCE" WORTH WHILE? -FINANCIAL MATH, SIMPLE MATHEMATICS, EXAMPLES FOR PERSONAL FINANCES
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8.3 IS TELEPHONE "LINE GUARD INSURANCE" WORTH WHILE? -FINANCIAL MATH, SIMPLE MATHEMATICS, EXAMPLES FOR PERSONAL FINANCES
If you do not have insurance from your local phone company for the lines inside your house, the company can charge you a basic $45 fee just to show up, plus $15 for every 15 minutes they work on your line.
"Line guard insurance" offered by your phone company costs a mere $4 a month (per line).
Question: If you need to call the phone company once in two years and the service call takes 30 minutes, which would be cheaper, the insurance costs or the uncovered visit?
Line guard insurance = $4 X 12 months X 2 years = $96
Half-hour service call = $45 + $30 = $75
In this example, an uncovered service call would cost $21 less than paying the monthly insurance.