insurance on new verizon smartphone?

[azhoopsfan]

I purchased a Droid Charge from Wirefly (instead of Dan's Amazon Wireless link) because I miscounted days and realized over the holiday weekend that the only way I could get the phone in time for unlimited data was to have the phone overnighted to me (Amazon only offers 2-day shipping). 

I signed up for Wirefly's equipment protection at $7/month, which is through a reputable company and protects the phone from theft and damage without a deductible.  Unfortunately, the policy does not cover unexplained loss, theft if you leave the phone in an unsecured location or water damage.  Loss and water damage seem to be the most obvious reasons for insurance. 

Version offers insurance through Asurion for $5 or $7/month ($7 plan includes extended warranty) that cover everything including loss and water damage.  But Asurion's plan has a $99 deductible. 

Anyone have any thoughts or experiences with this or want to suggest alternatives?

BTW, the phone is for my wife who spends a lot of time with our 3 year old and our 3 month old kids --- so insurance is important. 


Thanks

[Flying Fish]

IMHO insurance is not worth it in most cases. Many don't know this but Verizon allows you to buy a certified preowned phone if your phone is lost or damaged. The price is not much higher than the insurance deductible, and if you account for the $7 smartphone monthly premium you will probably come out ahead by declining insurance and using this option if the situation arises. Insurance is anyway capped at 2 claims per year.

[youG]

In the past i had square trade warranty for my phone and when it got damaged they couldnt fix it in five days so they paid me in full what i had paid for the phone almost three years earlier. they were great about it!!

[Name Changed]

I also would recommend squaretrade.com

There really often is a 30% off coupon - that would make the warranty an unbeatable price

[Flying Fish]

I also would recommend squaretrade.com

There really often is a 30% off coupon - that would make the warranty an unbeatable price

From SquareTrades's website:

"Covered Issues: Both accidents (e.g., broken screen or other damage through drops AND liquid damage including full immersion) and out-of-warranty normal use failures (e.g.,hardware failures or malfunctions) are covered. We do not cover loss, theft, willful damage or damage occurring through gross misuse."

No coverage for loss makes this a bad choice for insurance. Does anyone have any other companies they recommend, or is it best to just stick with Verizon's expensive insurance?