There are some hard and fast rules about what is and is not worth insuring. Blackjack hands in which the dealer is showing an ace — no. Cars — yes, as is required by law. Health — only if you don’t want to go bankrupt. It’s a trickier proposition when it comes to smartphones.

Writing at Alpha Consumer, Kimberly weighs the insurance options of new iPhone 4S owners. She notes that many policies are pricey, costing at least $12 a month with $200 deductibles.

On the other hand, smartphones are expensive to replace and just a drop in the toilet away from ruination, so the highly cautious may want to pick up coverage. Other options include treating your phone with extra care and buying a case that prevents it from being damaged if dropped.

Kimberly notes that the question is so tough that even Siri won’t give you a straight answer, although she does list local insurance agents for you to call.

Should You Insure Your New iPhone? [Alpha Consumer]

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