Seriously. Have you read the policy? It has more loopholes than a tax bill before Congress, so unless you’re a really clumsy person, cell phone insurance is a waste of your money in my opinion. Specialty insurance rarely works out to the buyer’s advantage and here’s why:

1. The fine print reminds me of a piece of Swiss cheese. It is full of exemptions to protect the issuer and the cell phone ^[2] company, not the consumer. Most limit the number of claims you can file during any 12 month period and even then, you’ll have to jump through spinning hoops to collect. Certain models are exempted, as are types of damage covered. Some cover water damage, some do not. Some cover dropping, others do not. Scratch the screen? You’re outta luck.

2. There is usually a significant deductible you have to pay first. Not only does the policy cost you $5 to $10 bucks per month, but you’ll then have to pay a $50 to $100 deductible to even collect. How much did your phone originally cost?