That's just terrible. I was mugged for my phone once, I was 22, but still a horrible experience. Fortunately I was 2 days away from an upgrade so didn't have to invoke my insurance. But since that time I've never bothered with phone insurance. The money I've saved from that would easily cover a replacement phone several times over now, eight years later.
Unless you have a recurring issue with breakages or theft I don't think it's really worth it.