Verizon Insurance Deductible?

I have been paying a $10 fee every month for insurance on my white iPhone 4. I dropped it in water today and took it to the store and the employee gave me information to go home and make my claim online. But they are charging a $169 deductible. Do I have to pay that? Is it refundable? I have been paying the $10 a month so I do not see why I have to pay for a new phone

Because that is how the insurance you signed up for works…
If you want the phone to be replaced, you are still responsible for paying these fees even if you didn't read the insurance contract.

Yes, you have to pay it.No, it's not refundable.

You're paying the deductible, because those are the terms that YOU agreed to, when you bought the coverage.

There's ALWAYS a deductible - and, newsflash - it's more than the wholesale cost of a refurb phone, which is what they're going to send you. They make money on every claim.

Yes, you have to pay it.No, it is not refundable.

Paying for a new iPhone costs a lot more than $169. You don't have to pay for a new phone. You just have to pay $169. The $10 a month is so that you only have to pay $169 and don't have to pay what a new iPhone costs without insurance.