Should you buy insurance for your iPhone?

You've got that sweet cracked screen app.

If you’re like us, you have three things of any value in your life: laptop, spacePhone and the third … the third, is, um… I can’t. Sorry. Oops. Well, anyway, the thought of damaging one of the those precious valuables is like imagining losing a limb, because $400 for a piece of pocket machinery isn’t something you just have lying around. So you consider insurance, but insurance, it’s a scam, no? They always try to offer it when you send a letter, rent a car or get a rough deal in Blackjack. So where’s the balance between frugality and caution? U.S. News & World Report and Gizmodo have roundups of iPhone insurance strategies so you can figure out if one is right for you, from Apple Care to $12 a month third-party plans (Gizmodo’s guide is a year old, but still useful). U.S. News weighs in on whether it’s cheaper to insure or just buy a good case and replace your busted phone with a cheaper version. What say you?