Thousands of cellphones are stolen, lost, or damaged every year. Is your phone important to you?

Unless you carry a inexpensive, disposable, pay as you go cellphone such as Tracfone, Virgin, or Cricket, you can have quite an investment in your phone. Smartphones can easily cost a few hundred dollars, some quite a bit more, plus all the data you have in them.

Several factors need to be considered when deciding whether or not to purchase insurance. If your phone is a few years old, the cost of replacing it may have decreased to the point where insurance is not recommended. Likewise, if you are going to be replacing your phone soon, it might be smart to hold off on the insurance. More »