Coverage for iPhones
Posted by Sarah on Tuesday Jan 12, 2010 Under Iphone Insurance
Many consumers buy extended warranties on high dollar products, like an iPhone, thinking they are protected for any losses they might experience. There are several companies that offer some type of coverage for the iPhone. So, the questions most consumers should ask themselves, what are you looking to cover?
The Apple Store offers the AppleCare Protection Plan. This plan covers defects of the phone and will repair these defects with new or refurbished parts. It also provides technical support coverage for the iPhone and iTunes. However, all iPhones have this coverage included for the first year. And, most manufactured defects would surface during the first year of owning the phone. There is no coverage for Accidental Damage or Theft. This might not be what most consumers are looking for.
You can purchase an iPhone warranty through a company called Square Trade. This company offers an extended warranty. This policy covers the same as the Apple Care but also includes coverage for Drops and Spills. The downside to this policy is the 30 day waiting period after you purchase the policy. If you were to drop your iPhone 10 days after purchasing the policy, you will have no coverage and will have to pay out of pocket for a new phone. The other downside to this policy is that this only provides coverage for one phone. If you file a claim on your damaged or defective phone, you must then purchase another plan to cover the new or replaced phone. This adds additional costs that most consumers would not like.
Another company that offers coverage for iPhones is Worth Ave. Group. This is by far the best option with the best benefits. It not only covers Accidental Damage such as drops and spills but also provides coverage for theft, fire, flood, all natural disasters, lightning strikes and vandalism. It also provides coverage for one full calendar year regardless how many claims you may file. With a low deductible of only $50 and premiums as low as $55 a year! When consumers buy extended warranties this is the type of coverage they are wanting. With a little common sense and some research you can find what type of policy best suits your needs too.
