Laptop and mobile phone insurance

After buying my new smartphone, the SideKick, I asked T-Mobile about the phone insurance I saw on the web site. I rarely opt for insurance on these types of devices, but the whole swiveling screen on the SideKick has me a tad bit worried though I haven’t read of any failures. Long story short, T-Mobile tells me that for a device with a $300 retails price, the monthly cost of insurance is $5.99 with a $110 deductible. Are you kidding me? The SideKick only cost me $199 and they want me to pay $72 a year with a $110 deductible. This sounds like a ripoff of major proportions. After a bit of Googling (is this capitalized?) I found a company called Safeware Insurance that specializes in insuring laptops, PDAs, mobile phones and the like. For the same $300 phone, they charge $36 per year with no deductible. Big difference from what T-Mobile was offering. I’ll be contacting these guys shortly.