The only problem I see with it is the claim process. They send you a box and you send the phone to their warranty center where it will be determined whether or not the phone will be repaired or replaced. In the meantime, you are left with no phone.
My company was using Safeware for our laptop insurance for a while and with the corporate account they would send a replacement while repairs were being done and there was an option for keeping the replacement. They are a legit company but unless you have a large account, you have to send your phone and wait for a replacement or the repair. That's a deal breaker for most individuals but the price is decent. Insurance through VZ is only $28 more per year and IMO that isn't too bad either for the peace of mind it provides.
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