The cost to replace a lost, stolen or damaged-beyond-repair smartphone can be enough to make you sick and your options at that point are usually few and far between.

You can buy an entry-level replacement with limited functionality until you qualify for subsidized pricing on a new phone (assuming your carrier still offers two-year contracts), pick up a used handset for a couple hundred bucks or pay full price for a new replacement (anywhere from $350 on the low end to well over $600 for a modern high-end handset).

If you happen to have insurance on said handset, however, you'll likely only be out a fraction of what it'd cost to buy a new phone at full price and you won't be stuck signing another new contract.

With this week's open forum, we're curious whether or not you have insurance on your smartphone? Sound off in the comments below!