If you break phones the same way you breathe air — as in you do it very often — having an insurance plan for your device might make sense to you. Manufacturers might offer policies, though most customers will go to their carriers... well, postpaid customers anyways. Prepaid customers haven't had much of an option in that aspect until when AT&T, with its partner Asurion, began offering its Mobile Protection plan back in April. This month, the carrier is working on boosting customer buy-in by offering open enrollment.
Customers opt in for $9.99 per month per device and are covered for up to two claims per year. As a customer to a GSM network, you do have the option to seek out alternate devices to the ones AT&T is selling at inflated prices, so you should factor that into the equation of whether or not you should get a policy.
For most issues, including damages and loss, the phone can be replaced with a new or refurbished unit by paying a deductible. Replacement deductibles can range as low as $10 for an LG K30 or $40 for a Moto E5 Play to $75 for an iPhone 6 Plus and for most BYO models that AT&T has never sold on its own, $130 for an iPhone 7 or Galaxy S8, and all the way up to $250 for an iPhone X or Galaxy S9. For most modern iPhones and newer Galaxy S devices with cracked screens, AT&T offers $49 replacements that can happen at the customer's home or a retail store within the same day. More details on services, device tiers, and deductibles can be found here.
AT&T Prepaid customers usually have a 30-day window from after a phone purchase to opt in Mobile Protection, but with open enrollment, they can do so any time through to June 30.