If they do a second recall and you choose not to return the device, if anything should happen with the device and either yourself, or your property is damaged because of an incident with it, the insurance companies will likely void any insurance cover because you opted to ignore a product recall.
This only applies if it is officially recalled again, and if it is, the possible serious ramifications are simply not worth it no matter how good a phone is.
Im glad I turned mine in after the first recall, and decided to go back to the iPhone 7, Now Samsung has officially announced they are dropping the Note 7 all together.
Yep, I returned mine during the first recall and went with the iPhone 7 Plus. I liked the phone but now that they've killed the phone, and possibly the Note line there is no reason to keep the phone. It will never receive updates either performance, security or new features. If someone still loves that phone, I'd say to be on the safe side, just exchange it for an S7 Edge and be safer, while still enjoying Samsung's best device and getting software updates.
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Not to sound mean, but I genuinely hope you live alone/by yourself or your family is cool with you keeping that. I know that there are millions of ways to die, but keeping something in your room with you while sleeping that can simply explode seems like an unnecessary risk, but to each their own.
Again, not to sound like a jerk, I just hope you're taking a look at all the associated risks involved.