Mobile Phone Insurance

[El_Patriot 0]

Just bought a Nokia Lumia 820 and want to get it insured. O2 offered insurance for £10 a month. Places like Protect Your Bubble are much cheaper but have shocking exclusions, e.g for loss it pretty much has to be in your own home, or theft requires threat of violence (?!) I am considering signing up to one of them bank accounts that you pay for having an account but give you free mobile insurance amongst other things.

 

What sort of experience have you guys had, if any, and what are your preferred methods of insuring your devices? Apart from not dropping them or living in London.