The new iPhones are out, which means your phone is another model year older. That means it’s a good time to evaluate whether you still need to pay for a protection plan on your aging device, which can add hundreds of dollars to the cost of ownership.

Experts say it’s likely time to cut the cord on that coverage.

Apple's iPhones don't come cheap. The new iPhone 17 Pro Max can cost up to $2,000, which is why a lot of people make the call to buy insurance for their device. Apple's plan is called AppleCare, while Samsung's is Samsung Care Plus. But some experts say those plans might not be worth the money you'll pay for them.

"These plans are really bad deals for consumers," said Kevin Brasler, executive editor at Consumers' Checkbook, a nonprofit consumer organization. He adds that most ex

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