Myth: My cell phone cost $50 when I bought it so it will cost $50 to replace. Truth: That's not the case. Wireless companies artificially lower the price of their phones, in order to attract new subscribers. However, should you lose or damage your phone, you will be faced with paying the true retail cost, which is often hundreds of dollars more than what you initially paid.   Myth: You have to buy cell phone insurance when you purchase your phone. Truth: No you can buy cell phone insurance after you purchase phone. Some companies, though, only cover phones less than 90 day sold. Others, like eSecuritel, will cover phones, regardless of age.   Myth: Insurance is also called a warranty. Truth: No, a service warranty provides a replacement phone if your phone is damaged or malfunctions, after the manufacturer’s warranty expires.  Insurance coverage, damage, loss, theft and malfunction, after manufacturer’s warranty expires.   Myth:  Insurance won’t cover liquid damage. Truth: That's note the case. eSecuritel, for example,  will cover  liquid damage. So if your insured phone falls into the snow, toilet, puddle or the baby’s milk, relax. We’ve got you covered.