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Considering how many people go through numerous, expensive phones without any insurance, I really don't think it can be qualified as necessary for everyone.

Absolute worst case scenario is your phone self implodes (so you can't resell at all). A top end, new phone on ebay will cost you about $280. I have enough month-to-month costs from other things, I don't plan on adding phone insurance on top of that. If you are highly accident prone or just like the ease/peace of mind, sure I can see it.