When insuring your smartphone a decision is ill-advised unless you look at the claim value offered. Cell phone insurance must in the first instance clearly state the number of claims offered for the premium paid, but more importantly, what $ cap you can expect per claim made. Carriers like AT&T, Verizon and others with Asurion as the underwriter typically offer 2 claims per year with a limit of $1500 per claim.

On the other end of the scale, there are popular Internet programs that offer you a capped total claim limit of around $500. This means that once the claims lodged reach $500, further claims will be disqualified under the existing policy.

Lets analyze these extreme situations:

• The claim limit of $1500 is overkill. Why? The highest-end Smartphone can be replaced new for no more than $700

• Moreover, almost all the carriers replace with refurbished so it makes the claim limit meaningless...