Seven months ago, I bought an Iphone 5 from Apple last year. I then went to Vodafone shop and bought a Vodafone MicroSIm card. I checked with the Vodafone shop to see if I am still covered for insurance via PhoneInsure (given I have changed from Windows phone to Apple) and they said yeah - it is the SIM card that is insured so any Smartphone (inlcuding iPhone5) is covered. I doublechecked this info with Vodafone call centre who confirmed this. 

I just been told that the Phoneinsure only applies to phones that were bought on contract from Vodafone.

However, there is nothing on the Phoneinsure Web that suggests this.  

Have I been throwing my money down the drain when I been paying for Phoneinsure for Smartphones that were bought outirght? I been paying the monthly Phoneinsure for the last 10 years - and most of the phones I have had during that time were bought outright.