For those that are clumsy, forgetful, or prone to accidents, an insurance plan to cover your iPhone may be a reasonable consideration. When you consider that used iPhones are going for $300 to $500 on e Bay, damaging or losing your phone is certainly more than just a minor nuisance. While researching this article I was very surprised to learn how many different insurance options there are for iPhones and the significant differences between coverage from one company to the next.
Let me first point out that I usually decline extended warranties and the like that are pushed at electronics retailers, but not always. For example, my wife has had a history of experiencing problems with video cameras. It was almost as if she had concluded she was cursed, as in just a matter of months one camera after the next would fail. Each time she was told that it would cost more to repair the camera than it was worth. We finally decided, let’s just buy the warranty the next time. For us it has paid off on video cameras. So, I think that making a decision to opt for these kinds of coverages is not a one-size-fits-all proposition.
Some of the iPhone protection plans are very much like warranties, while others offer what seems like insurance even covering the theft of the device.
How Much Does iPhone Insurance Cost?
The cost of iPhone coverage will range from $60 to $100 per year. I found this very helpful iPhone insurance comparison chart that lays out the price differences and coverage features.
When it comes to protecting your iPhone against damage, the best option is a good case. I personally use an Otterbox which will cost you between $30 and $40 depending on where you purchase it.
While I would not try this, I have seen iPhones in an Otterbox tossed across the room in my local AT&T store as a demonstration of the protection this kind of case offers.
To Catch A Thief…
With Apple’s MobileMe service ($99 per year) you can track the physical location of your iphone. I have this service and it is really quite amazing how effectively this tracking is. MobileMe offers a suite of other services such as file sharing, etc… and has been a useful tool for me to have.
Worth Avenue Group (as seen in above video), offers insurance plans not just for iPhones but also for other electronic devices such as laptop computers. As each of us continues to invest in more and more portable electronics, I expect these kinds of insurance plans to continue to grow. I am opting out of the iPhone insurance for now, but may consider it again in the future.
Helping you make the most of God’s money!