By Frank Ling
A typical scenario of how phones are lost or stolen is by leaving them behind accidentally in restaurants, libraries or other public establishments. Missing mobile phones that are returned to their owners are rare, but the other outcome that many are all too familiar with is that the phone is gone forever.
If the owners had phone insurance, would it have helped recover the cost of a replacement, and is phone insurance really worth it?
The insurance plans
When you buy a new mobile phone, the wireless carrier will give you the option of adding an insurance plan that will cover some of the costs of a replacement in the event of lost, damage or theft. Most of us are familiar with car insurance policies and how drivers are protected, but do phone insurance policies work in the same way?
The short answer is yes, but with a lot of conditions. Generally speaking phone insurance can cost anywhere from $6.99 to $14.99 per month or more. Plans also differ according to what you want in the coverage -- whether it is for simple lost or theft to full equipment coverage, which also replaces damaged or defective phones. More...