Question

A student buys a cell phone for $200 and is offered protection insurance for the phone.
What should the student consider in order to determine whether or not to buy the
insurance?
What texting capabilities does the phone have?
O is the phone a need or a want?
What is the risk of losing or damaging the phone?
Is there a fee for cancelling the phone contract?
Helppppp

Answer 1

Answer: What is the risk of losing or damaging the phone?

Explanation:

Insurance is a form of protection from a financial loss. After purchasing the phone for $200, if the student is offered protection insurance for the phone, the main thing to consider is the risk of losing or damaging the phone.

The value of buying insurance for a cell phone is simply for the person to be able to replace the cell phone in case of a scenario whereby the phone is lost or stolen.