In most cases, by the time you lose or break your phone there will be newer models available, enabling you to replace your lost or broken phone for a new one off Ebay for a fraction of the original price. Cell phone insurance is a waste of money IMHO.
Good point plus the S7 Edge is supposed to be water resistant or at least up to 5 feet underwater for 30 minutes so just in case I accidentally drop it in the toilet.....