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How to Choose an Insurance Plan for Your New Smartphone


For one, it's important to read the terms and conditions of your insurance plan.

Were you one of the thousands of fanatics up at 3:00 a.m. on Friday hoping to be first in line to pre-order your shiny new iPhone 5 (NASDAQ:AAPL)?

Embarrassing as this may be, I'll admit it: I was one of those people in my pajamas furiously refreshing my cellular provider's website.
Luckily, I didn't have to wait too long and I began my upgrade process with relative ease.

Yes, clearly my phone is important to me, as I'm sure it is for countless others. But I didn't realize just how important it was until last month when, while out with my buddies at a sporting event, my trusty iPhone 4 slipped off my thigh and plopped head first into my beer on the floor.

I immediately grabbed the phone out of the cup and was relieved it appeared to still be working. But just 10 seconds later, the screen flickered and went blank.

The liquid had short-circuited the guts of my phone and I watched it die in my hand.

I was then faced with the terrible reality that I had just been cut off from the "world" - no news, Twitter, Facebook (NASDAQ:FB), contact list, boredom-killing games, trusty GPS…nothing.

Now what?

Buying another phone without a two-year contract would cost me hundreds of dollars. My buddy sitting next to me asked me if I had insurance on my phone. I didn't even know there was such a thing.
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