Insure Your iPhone

Prior to purchasing a separate policy to cover your device, the best place to seek protection for your iPhone is through an existing insurance policy. Many insurance companies allow coverage of expensive items through another policy. Check your personal property insurance, homeowners insurance, or renters insurance to see whether an iPhone may be added and what it would cost.

A credit card may offer purchase protection for expensive purchases. It will typically cover damage or theft within the first 90 days, and may limit coverage to eligible items and purchases over a specific amount. Some credit cards also offer warranty extension plans.

Listed here are insurance policies and extended warranties available for purchase in the U.S. to specifically cover an iPhone. Terms vary widely between providers, and deductibles, coverage, and exclusions differ greatly. Read the fine print, and always take some time and do your diligence before trouble happens. All prices assume coverage for an iPhone 4.

Apple offers an extended warranty for your iPhone directly through their support arm, AppleCare. The AppleCare Protection Plan for the iPhone costs $69 for one year. Your iPhone hardware is covered under factory warranty for one year, and AppleCare will extend the manufacturer's warranty for a second year. It can be purchased any time within the first year of ownership. You can find new plans for sale on eBay at a substantial discount.

• Term - 1 year (non-renewable)
• Cost - $5.75 / month
• Deductible - none
• Coverage - defects, operation, hardware
• Exclusions - breakage, spills, accidental damage, theft, loss

AT&T Wireless offers MobileProtect insurance from Asurion for the iPhone. Asurion's MobileProtect costs $11.99 per month. Your iPhone must be enrolled within the first 30 days after activation. An iPhone 4 replacement requires a whopping $199 deductible. It does offer next-day replacement, in most areas.

• Term - none (monthly)
• Cost - $11.99 / month
• Deductible - $199
• Coverage - comprehensive: damage, theft, loss, failure
• Exclusions - few, but read the fine print

Best Buy offers extended protection plans through their service division, The Geek Squad. Best Buy's Black Tie Protection Plan is only available in store when you purchase your iPhone at a Best Buy location and subscribe to AT&T service. It costs $14.99 per month and must be purchased within 30 days of the phone. Best Buy may send your iPhone for repair up to 4 times prior to replacing it.

• Term - none (monthly)
• Cost - $14.99 / month
• Deductible - none
• Coverage - wear and tear, accidental damage, battery, failure
• Exclusions - theft, flood, fire, cosmetic, and more

Safeware is an insurance provider who specializes in electronic equipment insurance for items like the iPhone. Safeware's Insurance Coverage starts at $79 per year for a 16GB iPhone 4, and there is no time limit after you purchase the phone to initiate coverage. Safeware will insure your iPhone for international travel, but this increases the deductible

• Term - 1 year (renewable)
• Cost - $7.25 / month
• Deductible - $50 ($200 outside U.S.)
• Coverage - accidental damage, spills, loss, and theft
• Exclusions - few, except warranty coverage (e.g. operational failures)

SquareTrade has offered warranty programs for the iPhone for many years. A SquareTrade extended warranty typically costs $124 for two years of coverage, but can often be found on sale for $99. SquareTrade must be purchased within 90 days of your iPhone purchase. There's a 30-day waiting period on claims, and you are limited to one phone replacement, but SquareTrade will pay up to $599 in cash for a phone that cannot be repaired.

• Term - 2 years
• Cost - $5.17 / month prepaid ($5.99 / monthly)
• Deductible - none ($50 for accidental damage)
• Coverage - accidental damage, spills, breakage, warranty failures
• Exclusions - loss, theft, fire, flood

Worth Ave Group has insured personal property for 39 years. Worth Ave. Group Insurance offers from one to three years of coverage from $89 per year, with an annual premium. Coupons and discounts can be found online to reduce the price. Your actual insurance cost will depend on the coverage you purchase and the deductible you select. All policies will protect your iPhone globally, and the policy can be purchased at any time.

• Term - up to 3 years
• Cost - $7.42 / month
• Deductible - $50
• Coverage - comprehensive: damage, theft, loss, failure
• Exclusions - few, but read the fine print