$15 a month is expensive but in the end it's $180 a year. If my iPhone breaks, I'd have to pay full retail price for another 16GB which is about $600 or $700.
So the insurance saves me a few hundred dollars in the end. I'll stick with the insurance, since it includes accidental damage.
With that reasoning, you are just the sort of person that Insurance Companies simply love
. Just think for a minute, if you
don't have the misfortune to lose, have stolen, accidentally damage your phone (and the vast majority DON'T!) you have effectively wasted $180 p.a.! Don't forget, insurance
doesn't usually cover actual faults of the 'phone - such as sticking switches, malfunctioning sockets, unresolvable crashes etc - these are covered by the manufacturers warranty and Applecare is the most economical way of extending this cover.
For
complete cover, the best way is to insure against damage etc by adding the 'phone to your home "contents" insurance plus Applecare to cover any eventuality of problems with the 'phone itself (hardware/software).
Finally, don't forget that Applecare also offers FREE telephone support - whatever the problem.