For small, expensive, often-dropped devices like cell phones, insurance is becoming an increasingly common add-on purchase. After all, if you spent $300-$400 on a phone, what's another $50 to ensure that it will keep working for the life of you cell phone contract?
Not from Apple or AT&T
That thinking - and fear of needing to extend cell phone contracts to get new phones when ld ones break - many people seek cell phone insurance. And, with the iPhone being one of the hottest phones on the market, many people are looking for iPhone insurance from Apple or AT&T.
The only problem? Neither sells iPhone insurance.
AT&T has been rumored for some time to be preparing an iPhone insurance plan, but nothing has yet come to light. Apple doesn't offer insurance on its products, though its AppleCare extended warranty does cover the iPhone.
So, if neither of the official companies behind the product offer iPhone insurance, are you out of luck? Not necessarily.
Traditional Insurance Companies
If you're in search of iPhone insurance, try the companies you already get insurance from. Many insurance companies that offer homeowner's, renter's, or other kinds of property/casualty policies can cover the iPhone under a "personal articles policy." Rates reportedly run in the US$15-$40/year range.
Start-Ups
With the market opportunity left by Apple and AT&T not offering iPhone insurance, new companies have stepped into the space. When considering these companies, be sure to do your homework: check out how long they've been around; search the web for reviews of them, as well as complaints or problems; make sure they're going to be around when you need help.
Two of the leading iPhone insurance companies to spring up in recent years include SquareTrade and InsureYourPhone.com.
SquareTrade offers policies for US$50-$60/year that cover drops, spills, battery, water damage, and other mishaps.
InsureYourPhone.com seems to have changed its offerings recently and now only offers coverage to users in the Mort Meyers/Cape Coral, Fl., areas. For users in those areas, policies run $70-$120 for up to two years.
