A couple months ago I was considering getting insurance on my new cellphone. After considering it and reading over the fine print I couldn’t find a reason not to get it. I ended up insuring two phones and a laptop. The yearly cost to insure these devices was around $30 and deductible is zero. This was added on to my current home owners policy and I couldn’t be happier.
I would highly recommend you contacting your insurance company if you have a cell phone or laptop where the replacement cost is over $500. Don’t waste your money with those $7/month plans.