Though many people tend to scoff at insurance for mobile phones, a scenario where you do not have insurance looks a grim one and goes somewhat along these lines:

If your mobile phone is damaged or stolen, either of which is easily possible, you will have to spend a neat sum to buy another one, if you are one of those people who say insurance for mobile phones is a waste of money.

Regardless of whether you use your mobile phone or not, you will be liable to pay your monthly contract amount to your service provider.

Until such time that you block your phone, the person who stole your mobile can misuse the phone to make fraudulent calls, which you are still liable for.

Even if you buy a new mobile phone, you will have to get in touch with all your contacts and send them your new number.

With insurance for mobile phones, you will receive a replacement for which you will not have to pay and if your mobile is damaged it will be repaired free of cost. Moreover, you will not have to pay for calls fraudulently made from your stolen mobile. All said and done, for a small monthly payment you buy peace of mind.