I just upgraded to the iP4 white from a 3GS last week. So I get this email telling me about ATT's Mobile Direct insurance for the iPhone. It pays for all the things you would think you lose out on like broken backplates, broken front glass, water damage, theft, lost like that. BUT they want like $11.95 a month dues and it has a $199 deductible! Now I got mine free, but isn't it like $199 to buy a replacement anyway? Am I missing something?