Cell phone insurance data shows massive spending on repairs and replacements

Cell Phone Insurance

Owners of the new iPhone 5 wonder whether coverage will help protect them from high costs. The iPhone 5’s massive success in its release last week didn’t come as a surprise to anybody, but it has left the owners of these cutting edge devices wondering whether they should purchase cell phone insurance to protect them against the cost of loss, theft, or damage. Consumers spend billions repairing broken devices and on replacements and deductibles. In fact, according to the consumer electronics protection plan provider, SquareTrade’s data, since the iPhone first…

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