What Insurance is (Supposed to be) For

A recent discussion on Twitter (I tend to have tons of discussions on Twitter as many of you know) about options for iPhone insurance (no, I am not an iPhone owner and I don’t see one in my future anytime soon). Phone insurance is an interesting invention. It’s not the same as a warranty–I don’t know of any phones that are sold new without warranties–which covers a manufacturing defect or malfunction within a certain period (say, a year) of purchase. Insurance, on the other hand, is mea