Who are you getting the insurance with? What price is it roughly?
FNB give the option to insure it for R41-00 per month.
That does not cover accidental (negligent) damage or water damage.
Outsurance quoted me R442-36 to insure my N2 and 2 x S2.
Santam quoted me R201-60 to insure the same phones.
Santam seem to be quite a bit cheaper on a quote I asked for 2 cars, house contents and the phones, when compared to Outsurance.
When I called Outsurance to see if they could beat or equal the quote, they sent me a pamphlet showing why it is better to have OUTsurance rather than INsurance.
I cancelled my Outsurance policy, and have taken up the Santam quote.