Check what your bank offers in their 'premium' current account range. I pay about £5 a month for phone insurance and card cover and extended warranties and a handful of other bits & bobs
Check your house and contents insurance first - a lot of them now include mobile phone insurance.
True, but also make sure you check what impact losing your phone would have on any home insurance no-claims discount or excess conditions you may have.I've never lost a phone (/me tempts fate) but I know people who have been caught out with that.