Hearing aid insurance suggestions!?

I have experienced hearing loss (Severe +) since about 2004, I am getting my FIRST BRAND NEW PAIR of Bernafon Xtremes. As a VERY VERY poor graduate student and a very active individual outdoors I am looking for some type of full coverage insurance that could replace or repair these expensive babies for me in the VERY LIKLEY case that I break them or loose them. Anyone experience a good deal out there?

My last pair of Oticons were great until the right one broke (I was backpackign) and then the left one started dying (recently), I did not have them insured anyway so $3K smackers later…!

Anyone else out there do allot of outdoors activities with theirs? Any good suggestions in keeping them alive!? I do alot of climbing (ice and rock), kiteboarding, hiking/backpacking, Skijoring/bikjoring and the like. I am a Bird watching guide and visit very humid and wet environments OFTEN.

Currently I use them only when I need when active and keep them in a shock proof, waterproof Pelican case although, and especially, when I am Birding or other I really need to be using them to hear other people/clients. Anyway just throwing it out there.

My recent purchase thru Hearing Planet came with a 3 year loss/damage insurance. This provides for one claim during the 3 years with a copayment or fee of $400. This was included in the package price so I don’t know the itemized cost of this. This is separate and apart from the manufacturer’s warranty.

I can’t imagine anyone providing anything more generous than that. Their exposure would be so high the premiums would have to be astronomical.

That is exactly what my fear is…other than growing up a little and being EXTRA careful… I wonder if I can get some type of insurance coverage on them for replacement? Oh well!

Maybe talk to the guy that writes your car insurance???

I talked to Geico and All STate and they were very unsure about the concept of insuring Hearing Aids…the first question they asked was why I wanted to cover them…Me…I dont lie so I told the truth…they about laughed and said no. HA! Oh well for honesty eh!?

Contact your audiologist. But I’m trying to do the time line. My last pair of Oticons came with a 3 yr warrantee. I was then allowed to extend the warrantee at a price for I think it was another 3 yrs. You can definitely get insurance on your hearing aids. Use either your yahoo or google search engine.

ESCO (earserv.com) writes this kind of hearing aid policy and has been doing it for years. I have no affiliation with them.

BTW, My daughter’s Phonak FM transmitter was lost and replaced by Phonak under their warranty for $100 co-pay. Insurance is definitely handy to have.

I bought my HA through HearPO, and in addition to getting a substantial discount ($2395 versus the dispenser’s normal $3295) I also got a 3 year warranty that includes a one-time replacement with a $250 deductible. The plan includes all fees for adjustments for 1 year (though the dispenser, Lyrus, says they will adjust it for life at no charge). I can also return the HA for 60 days with no restocking fee.

In my case, my Aetna medical insurance covers 2 HAs (lifetime :() at 100% with no maximum. I believe that I have HearPO access only because Aetna subscribes to their services. If you have health insurance that covers HAs, you should check into any available discount programs.

When you think about it, in order to offer insurance a company still has to make a profit, else they’d have no reason to be in business. Even if they break even, the premiums they charge still have to pay for all claims plus their business expenses.

So, if you figure that one customer might make one claim during a three year contract, say it’s a $2500 hearing aid. That means the company would have to charge more than $2500 premium if they had only one customer. Insurance is just a pooling of risk - they’re assuming that all their customers won’t have a claim making their premiums all income for the company. The customer who has a loss receives a direct benefit, the customer without a loss has paid something for the cushion (insurance) in the event of a risk.

When insuring a car or house, the loss or damage is very easily documented - the car’s wrecked or gone, the house burned down or whatever - it isn’t so easy with a small consumer product like a hearing aid. (Although serial numbers are a clear control mechanism.) Dealing with fraud with items such as this is a problem - I’m not implying that any readers here would cheat, but the risk to the company is that someone might.

Given all that’s been speculated on this forum concerning the “true” cost of hearing aid, one can hypothesize that the “deductible” in loss and damage plans is at or near the actual manufacturer cost - or at least, a healthy bite into it.

Just some thoughts on the nature of insurance and why costs are what they are. Any comments?

Regarding this topic, yes, you can extend the warranty on almost every hearing aid made. If you do loose one, the manufacturers’ loss/damage coverage is what is being utilized to replace the aids. On the replaced aid, you may be able to replace the loss/damage coverage to overcome the single incident replacement clause.

There are also insurers, as noted, who specialize in insuring hearing aids.

You note that “one can hypothesize that the “deductible” in loss and damage plans is at or near the actual manufacturer cost - or at least, a healthy bite into it.”

Based on what I have to pay for aids, I would say you are correct on this point. I would make an educated guess and speculate that the $400 deductable completely pays for replacing a lost or damaged aid, since the manufacturers calculate the cost of replacement just like an insurance co. does - based on risk and statistical data. END OF MY BLURB

Nobody provides insurance unless they are going to make money on the deal. Odds are your aids won’t need complete replacement over the time the aids are insured so the insurer makes a profit. But let me explain how my oticon’s worked. They were covered for damage loss etc. for he 6 yrs. I owned them, three under the warantee and 3 under a paid insurance plan through Oticon. Every year I sent both aids in a received free replacements, no questions asked. At the end of 6 yrs. I had basically a new set of aids. So I went through 13 hearing aids in 6 yrs, not because the aids broke but because my audiologist said I should and that Oticon didn’t care. (although it did make me wonder how much it really cost Oticon to make these damn things)

The thing I noticed with hearingplanet is they are very expensive!!! The hearing aids im going to be trying Unitron Passport BTE are $3300 though my audi, hearingplanet wants $5200 and then on top of that a deductible if lost??? Duh, you have already paid for them twice so you didn’t get any deal.

Shop around and find an Audi that isn’t going to rip you off

State Farm covers my HA’s with a personal articles policy.