For everyone bashing insurance here, the reason I have it is my phones love the seats of cabs. I am not sure why, but like the user who's 6700 tried to hug the airline ticket before he could get to it (sidenote---hysterical comparison by the way!

), my 6700 likes to take cab rides with strangers. For the life of me, I can't keep the damned thing in my pocket. All I had to do is call Lockline and for $50 I get a refurbed one. From what I know, you can't bing nothing into a Sprint repair store and walk out with a 6700, unless there is a secret I don't know about...
That's pretty much the only reason to get insurance. As other users have noted, you can get it fixed in lieu of buying a replacement one.