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Deductible is higher than the cost of the phone. Why is that?

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 Morning, Recently I received the new deductible charges for the AT&T Mobile protection Plan. I have an iPhone 4S. the deductible for repair is $150. I find it interesting that I can buy an iPhone 16G 4S for less on Amazon than the deductible costs. If I went to Walmart, it's even cheaper. What is the advantage for me paying almost $11/month for protection?


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