iPhone 4 Insurance Programs Compared

Posted 06/24/2010 at 9:39am | by Paul Lilly

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The iPhone 4's launch day is here, and if you managed to fight your way through the lines and get your hands on one, you may want to consider an insurance plan. Early indications suggest the latest iPhone is a bit more durable than Apple's previous smartphones, but hey, things happen, like dropping one in the drink when out on the lake fishing for bass.

With that in mind, there are some things you can do to protect your investment. AT&T's MobileProtect just announced an insurance plan that will cover your iPhone should it become stolen or damaged, which the company says are responsible for half the claims they process. Let's take a look at your options.

MobileProtect

Replacing a broken or stolen iPhone could run you $699, so in that regard, spending $11.99/month on MobileProtect's insurance plan might not seem overly egregious, but it's still expensive. What's more, you'll have to pay a $199 deductible when you file a claim for the latest iPhone (previous versions carry deductibles ranging from $99 to $199 depending on the model).

You're able to file 2 claims every 12 months. Pretty much everything is covered, from a cracked screen to liquid damage, so if you spill a piping hot cup of coffee on your iPhone, you're covered. Theft and loss are both covered too.

1 Year = $144
2 Years = $288

Program Details

Apple OneCare

Apple's OneCare program is the most basic of the bunch, yet it's the second most expensive. For $69/year, Apple will cover parts and labor for any applicable repairs, including the battery. You won't have to pay a deductible, but you're also on your own should you drop your iPhone down a flight of steps or leave it out in the rain - Apple OneCare is essentially a warranty extension, and DOES NOT cover:

"Damage to the Covered equipment caused by accident, abuse, neglect, misuse (including faulty installation, repair, or maintenance by anyone other than Apple or an Apple Authorized Service Provider), unauthorized modification, extreme environment (including extreme temperature or humidity), extreme physical or electrical stress or interference, fluctuation or surges of electrical power, lightning, static electricity, fire, acts of God, or other external causes."

1 Year = $69
2 Years = $138

Program Details

SquareTrade

SquareTrade has grown in popularity the last couple of years as an independent provider of insurance policies for nearly everything under the sun. Unlike the other two protection plans, SquareTrade isn't sponsored by Apple (OneCare) or AT&T (MobileProtect), so that's something to consider.

Where SquareTrade holds an advantage is in pricing. Similar to what the company did with the release of the iPad following its launch, SquareTrade is offering a discount on iPhone 4 warranties for a limited time. A 2-year protection plan runs $99, which covers accidental damage, including spills. There's a $50 deductible per claim, but if your phone becomes lost or stolen, you're on your own.

Like Apple's OneCare program, the battery is covered too. As SquareTrade explains it, "If the iPhone battery life drops below 50 percent of the original, it's eligible for a replacement."

1 Year: N/A
2 Years: $99 (regular price $148.50)

Program Details