Miami, FL: (Jul-04-07) A class action lawsuit was filed in the US District Court of Southern District of Florida and focused on claims that the nation's largest cell phone insurance carriers Asurion Corp. and Lock/Line, were not clear with customers about replacement policies. The class action claimed customers could receive used cell phone replacements sometimes worth less than they were required to pay as an insurance deductible. The suit claimed that the customers, who paid monthly premiums of between $3 and $8 to carry the cell phone insurance and a deductible of between $35 and $110 to receive a replacement phone, were mislead by the two companies and deserved to be compensated.
In a settlement reached, the companies agreed to compensate with a $5 phone card and the 15,000 customers who received used phones valued at less than the deductible will receive vouchers for a free replacement phone with a value of between $75 and $150, ending two and a half years of litigation in Florida and California. [
