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Mobile Phone Insurance. Save money on your mobile phone insurance. Do not take out the insurance offered by the phone shop, instead open a new savings account and deposit the same amount monthly that the insurance company would charge (preferably a little more), Now when and if you lose or damage your phone, you should have some if not all you need to repair or replace it with a new one. You will also benefit from the interest on your savings instead of the insurance company.

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Contributed by willro on March 29, 2008, at 9:03 AM UTC.

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