While buying budget phones upto 7000 Rs we didn't required insurance because damage done to mobile upto this range can be repaired in less cost. Or if stolen you might not been affected so much.
But mobile of range from Rs 10000 to 15000 needs insurance, because in these phones display is attached to the touch screen so if the scren get damaged it will cost you upto 6000 Rs which is costly. And if the insurance is done of mobiles upto these range and if mobile gets stolen you will get 50-60% claim, it mean you will get 50-60% amount of which you have buyed your phone.
So Mobile Insurance is the most important work you should do while buying mobile.
Thank you