Assurant is increasing device insurance rate?!

[Codegerm]

I received a letter from Assurant Solutions, the company that does the device insurance for Boost. As of February 21, 2014, they are raising the rate for insurance from $5.00 per month to $7.00 per month.

Due to increases in wireless equipment costs, effective on or after February 21, 2104, monthly premiums (billed through Boost Mobile) and corresponding deductibles for Phone Insurance will change. Your premium will be changing from $5 to $7 per month per phone beginning with your first billing period after February 21, 2014. The timeframe to submit a claim has also changed. You should report your claim with in 30 days after the date of loss instead of 60. For changes in deductibles, please refer to the schedule provided.

The deductible for our phone is $100.00, and this if for a phone that is only $250.00 brand new! That deductible is per claim BTW...

Increase in wireless equipment cost?! This is total lie, Assurant! The cost of the phone has gone down! In fact the phone is 100 dollars less brand new than what I paid for my phone when I got it.

In case you can't tell, I'm a little ticked off at this, and am canceling my insurance as of now. I feel sorry for the people that have a Blackberry Curve 8530 with insurance, they have the same deductible as us (really?!). With the increase in cost, this insurance is no longer worth it. So my bill is going down by 5 dollars per month. I will just self insure it at this point.