Chromebooks for 5-12

So, I've just been notified that next year all students in grades 5-12 are being equipped with Chromebooks.  I'll save my opinion on the opportunities to provide a better learning experience until I see how the process play out.  What I do have a comment on is the "recommended" $45 annual non-refundable protection plan.  So, if I choose not to "protect" this device that we don't have a choice on, what happens in the event it is damaged or stolen?  I'll save comment until the August presentation/orientation, but I am feeling a little imposed on.  Anyone else have thoughts on this, or anyone seen a similar program succeed elsewhere?