AT&T to offer iPhone insurance for $4.99 a month
Beginning July 17, AT&T will sell a new insurance policy to cover iPhones.
The policy — AT&T Mobile Insurance — will protect against loss; theft; accidental physical or liquid damage; and mechanical or electrical failure after the manufacturer’s warranty period has expired. You must enroll in this program within 30 days of getting new iPhone service or an iPhone upgrade. AT&T says you can cancel this policy anytime.
The monthly premium will be $4.99 for each mobile number. The non-refundable deductible for each claim is between $50 and $125, and there’s a limit of two claims within any 12-month period. AT&T has assigned a maximum value for a device of $1,500 per claim. Under the insurance plan, a replacement iPhone will be delivered to you by the next business day in most cases.
The new coverage probably will be more popular than AT&T’s current iPhone insurance, which is $11.99 a month with deductibles as high as $199.
If you don’t want to buy AT&T’s iPhone insurance, Apple offers a protection plan for $69, which extends Apple’s iPhone warranty up to two years.
Verizon also has an iPhone insurance policy, costing $6.99 a month with a deductible as high as $199.
For more information about insuring your electronic gadgets, visit /insurance-gadgets.