Is smartphone insurance worth it?

Is smartphone insurance worth it? How do the carrier's insurance compare competitively with third-party insurers such as Square Trade? Which third party insurers are there? And do any of them cover loss of equipment, that the carrier's insurance covers but the Square Trade apparently excludes?

Personally I take care of my devices so see no need for it. Usually the insurance costs a lot relative to the value of the phone.
I'd buy a cheaper one if I was that worried such as a moto g5 plus or an older iphone.

Insurance is great, as long as you use it enough to make it pay for itself..

Insurance companies that manage to stay in business are pretty good at making sure any given individual customers do not do that too often either through lawful means or in any other way.

One way of looking at it is as follows:

  1. if you really cannot handle the replacement cost of a broken or stolen device then it makes sense to buy insurance either from the carrier or a third party and treat that as part of the monthly cost of the service.

  2. you are "better off" playing the odds by not buying insurance for any item where you can handle the cost, e.g., TVs, cameras, car repairs, appliance repairs. While you may lose on some over time you will be better off by self-insuring manageable losses.

  3. unless you consider bankruptcy a good approach, it is best to have plenty of insurance for really big ticket items such as medical expenses and liability (accidents you are held liable for), and for property you own or rent.

One loss replacement is typically more than the cost of two years of insurance.

That is probably true. There is rampant fraud in this space. as in other areas of handset markets, which means the 'honest" consumers end up paying more than they should for this type of insurance. So for anyone willing to commit insurance fraud, it is a good "bet."

For the average "honest" consumer who can handle the replacement cost without too much budgetary stress, it is better to skip the insurance. This has to be true as otherwise the insurance would not be offered.

HERE'S a pretty good breakdown of carrier insurance coverage and extended warranty.