iPhone Insurance Now Available

On June 30, 2010

Insurance for your new glass iPhone is now available, but is it really worth it?

The premium is $12 / month (which on its own is a little high), but the real kicker for us is the $199 deductible.  Since the new price of the iPhone is $599 or $699 to replace one in the middle of a contract, it would basically mean that you would have laid out the $12 monthly and then another $199 to get a refurbished model.

So lets take a for instance case that you use your phone for 12 months, then loose it, you would have paid out $144 monthly and then another $199 for the deductible when it came time to replace the phone, grand total of $343 (half the price of a new one).  In the case of loosing the phone, maybe this isn’t so bad, but what if you simply broke something on your phone?

Currently, you could get a broken screen replaced for $149 in your local repair shop, or fix a broken port for around $99.

Personally, we think if we lost our phones, we would probably pick up one on eBay for the remainder of our contract, or use one of our older phones.

Just seems like a steep deductible to us.