Introducing a kill switch feature that allowed victims to disable their stolen devices could virtually eliminate phone thefts because criminals would no longer have an incentive to steal them. Consumers spend about $500 million each year replacing stolen phones and around $2 billion each year buying premium cell phone insurance.
If phone thefts were no longer a concern, more than half of smartphone owners say they would buy less expensive phone insurance coverage from third parties that doesn't cover theft or loss. Manufacturers and carriers need to put public safety before corporate profits and stop this violent epidemic, which has put millions of smartphone users at risk.