I've noticed a recent resurgence in interest on the topic of iPhone insurance. Seems that now more people have an iPhone - I'm sure in no small part due to the several hundred-dollar price slash - there is an accompanying desire to protect their investment.
I wrote about iPhone insurance several months ago and commented on the fact that there was no available insurance at the time. Appears that the situation hasn't changed in the interim. According to the AT&T website in the iPhone FAQ section:
"Q. Is iPhone eligible for Wireless Phone Insurance?
A. No. iPhone is ineligible for the Wireless Phone Insurance program offered to AT&T customers. iPhone is covered by the Apple Warranty. If you have Wireless Phone Insurance from AT&T, it will be removed from your line of service."
What does the Apple Warranty offer you ask? Straight from the Apple website I've found the answer:
"Every iPhone comes with one year of hardware repair coverage and up to two years of technical support."
If you want to extend your hardware coverage to two years you can purchase an AppleCare plan for $69. However this plan is not insurance as is stipulated in the Terms and Conditions for the AppleCare plan:
"The Plan does not cover:
Damage to the Covered Equipment caused by accident, abuse, neglect, misuse...
Covered Equipment that has been lost or stolen."
Any ideas on why AT&T or Apple doesn't currently offer wireless phone insurance for the snazzy new iPhone? I guess the cost of replacing thousands of lost, stolen or damaged iPhones would be too big a dent in the wallets of AT&T and Apple.
One would think that there would be someone capitalizing on this, but the fact is that there isn't. We actually planned to roll out a service with an insurance underwriter client, but paused, assuming Apple or AT&T would eventually do it. Wrong, so far. If it goes another month or two, I think some companies will go for it.
Posted by: Josh | September 26, 2007 4:12 PM | Permalink to Comment