I upgraded my phone in January 2013. And I have been paying Insurance every month. My phone was on Thursday. When I make the claim from the Insurance, they tell me that the phone that is insured is the phone I am no more paying for.
All the time no one ever asked me whether my present phone on Contract is insured. Their customer service is also very rude. And I think they were just happy that I pay and not considering that I am a Customer who is putting Salaries in their pocket