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Can phone insurance be used for another phone?

Xencer

Lurker
So I bought the G1 a few months ago and to me I think it's kinda ugly. And newer android phones coming out are getting beastly processors with the ericsson android device running on a snapdragon platform at 1GHZ!!!!!

So I was wondering do you think if I 'lost' my phone then t-mobile would let me buy a different android price at the discounted rate?
 
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