If you’ve got slippery fingers or bad things tend to happen to you frequently, it’s probably a wise decision to protect your assets when possible. One of these assets is your smartphone. That little device that does so much in your everyday life can be costly to replace.

Consumer Reports conducted a survey and discovered that, in the past 24 months, half of those individuals surveyed had a significant issue with at least one phone in their household. If a household had children present, a whopping 81 percent of individuals experienced significant phone issues that required cell phone repair.

A cracked screen, one of the most common problems people experience, isn’t a cheap fix. The average cost to fix the screen on a Samsung Galaxy S8 plus was $277, while the price to repair the screen on an Apple iPhone 8 averaged $145. A cracked screen becomes more than an inconvenience when the cracks are deep with pieces of glass chipping away, or when the screen becomes partially or completely unresponsive and makes your phone unusable.

Phones cost more to fix now than they used to because there are more high-tech and expensive components going into them says Bree Fowler, the tech editor for Consumer Reports. Cell phone manufacturers Samsung and Apple both offer protection plans for their devices, but they might not provide enough protection to meet your needs.

Margot Gilman, the money editor for Consumer Reports, mentions that the plans offered by these companies don’t pay for theft or loss. The lack of coverage makes it an extended warranty instead of an insurance policy. Samsung and Apple will typically cover mechanical problems such as issues with the speaker or charging port, a failing battery, or to replace fix a cracked or unresponsive screen.

Purchasing insurance through your cell provider is another option available to you through all four major carriers. These plans cover repairs and loss or theft, depending on the level of protection you choose to purchase. Most carriers charge a low monthly fee to protect your phone, but carefully read the terms of the insurance agreement because many times a deductible applies to fix or replace your device. You’ll almost always save money by repairing your device instead of replacing it.

If you anticipate experiencing an issue with your phone because you are accident-prone or let your kids use it often, you might benefit from purchasing an insurance policy to protect your asset.