Insurance on Sprint Phones: A scam

I bought a new iPhone 4 from Sprint and signed a 2-year contract and was tricked into buying an insurance policy. After 8 months, the phone got knocked out of my hand and fell down into a sewer drain in the city and could not be retrieved. I reported this to my Sprint Store where I bought it. They treated me like dirt and ignored me. Finally, I was told that the insurance would not replace the phone and I must continue to pay the contract although the phone was gone. To add insult to injury, they told me they would lease me a phone at my expense and that I would need to still continue paying out my 2-year contact as well. What good is an insurance policy that won't pay? A scam!