Even at an extra $24 ($1 x 24months - length of a 2 year contract) I would still keep the insurance. You pay 299 for a phone (or if you wait a few months $199) that is worth 700-800 retail. God forbid something happen like you break it or it is lost or stolen. You go to verizon and get a new phone even with the $100 deductible you only paid $300+$100+192 ($8x 24 months)+ 72(3x24) = 664 + tax so lets say $680 for two smart phones (one lost/damaged). I have no issue with the insurance.
Now where I do understand where people are coming from is that people are getting tired of vze nickeling and diming them to death. The avg customer probably spend $110 per phone x24 month= 2640 add that to the above and in 2 years you paid 3320 to vzw (1660 per year). Those figures are only taking into account one smart phone line. People on Family share plans with multiple lines may be paying close to twice that amount. A change in price that is only $1 is not the issue it is the $1 here, $5 there, etc and after awhile you look up to see your bill has went up almost $30 - $40 bucks. That is enough to cause for concern especially for those on a tight budget.