Wait if your phone is lost it's covered, I thought it only covered damage. I actually left mine in the shoe dept in the mall. Luckily the sales clerk found it. Big scare. I guess I should really look over my insurance and what's covered.
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Assurion covers "anything". Lost, stolen, broke, water damage, etc. I had Assurion years ago with the original droid. lost it and the sent me the HTC Incredible. 2 weeks later I left the phone in my jeans back pocket and well.....it commited suicide in the washing machine and they sent me a new one. If you have 2 claims within a year, you are automatically dropped. I just signed up back with assurion with my new Samsung S3. Well worth it I think.