Is cell phone insurance worth it?

If you're accident prone, you may want to consider insurance for your smartphone.

In a recent survey, Consumer Reports found that over the last two years, half of the people they surveyed had at least one major incident with a phone in their household. If there are kids in the house, that goes up to 81 percent.

Without coverage, the average cost to repair a cracked screen for an Apple iPhone 8 is $145 and for a Samsung Galaxy S8 plus, it's $277.

"Phones in general now are more expensive because they have more sophisticated components, which means if you break it, it's going to cost you a lot more to fix it," said Bree Fowler, Consumer Reports tech editor.

Apple and Samsung sell their own protection plans, but that may not be the best option.

"Coverage plans from Apple and Samsung don't cover loss or theft. They're basically extended warranties, not insurance. So they cover things like cracked screens and mechanical failures," explains Margot Gilman, Consumer Reports money editor.

You could consider getting insurance through your provider. All four major carriers cover repairs, along with loss and theft, depending on the type of plan you select and your device.

Here's Consumer Report's rule of thumb: if you feel like within a two-year period you're likely to have two or more mishaps with your phone, you may want to get insurance.

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