Worked examples / Protection
Two years at $10 a month. One phone in four is claimed on, and a claim is worth about $500 after the excess.
You could cover this yourself, and on average it costs you $115 more than it returns.
This is a worked example with illustrative figures, not data about any real person or company. Change any of them in the calculator and the answer changes with them.
How this answer was worked out| You pay | $240 |
| Chance x payout | 25% x $500 = $125 |
| Back per $1 paid | $0.52 |
| Break-even chance | $240 / $500 = 48% |
| Costs more than it returns by | $115 |
Every formula is written out on the formulas page.
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