Protecting Your Investment: AppleCare®, Insurance, or Repair? Once you buy a high end phone you are faced with how to protect your investment. You can buy all the cases you want, but at the end of the day, you’ll need something more to ensure you aren’t left without your precious handset. We’ve all been through it at least once, you buy a beautiful, high-end phone, and then something happens to it. You lose it, you drop it and it cracks, or it gets immersed in a water tomb. Without some sort of insurance you are left with two options; either repair it at cost, if possible, or replace it at full retail price. Repairing it might not be so bad, but replacing a phone at cost will surely make you cringe.So, if you’ve purchased an iPhone you have the ability to purchase Apple Care+. It is Apple’s repair insurance, and for around $100 they will repair or replace two phones over the course of two years for just $50 at a clip. That’s the upside. The downside however, is that you have to take the phone to an Apple retailer and if you happen to lose your phone you are out of luck. Lost or stolen handsets are not covered.If you have a different phone, like the Droid or similar handsets, you can sign up for insurance through your service provider. If your phone is lost, stolen or broken, you just call up the carrier and evoke your insurance. This option does cover lost and stolen items, but it doesn’t cover water damaged phones, you also pay for the insurance monthly and then must pay your deductible to get a new phone. The deductible can range between $100 to $200.Your third option is to have a phone repair store fix it for you. Many phones that are damaged can be repaired relatively easily. Screens can be replaced, cracked cases can be swapped out for new ones, and small bugs can usually be assessed and fixed for a minimal fee. Once again, however, lost or stolen phones are still lost or stolen, but a good relief is places like Phone Doctors can fix just about anything at a reasonable price.