iPhone Insurance and Warranty: Top Things You Need to Know on How Expensive and What Factors Are Not Covered

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By Ryan Inoyori | May 19, 2014 2:09 PM EST

Buying an iPhone includes the standard Apple warranty that covers certain factory defects. However, Apple's warranty has limitations which will not cover cracks or scratches caused by accidental drops. So if you plan getting an extended warranty, here are five plans from Apple and four network carriers in the U.S.

Standard Warranty Policy

Most warranty policies provided by smartphone manufacturers only cover basic factory defects such as failure to boot, camera issues or display problems. But the policy does not cover cracks, damages and scratches caused by accidental bumps or drops.

Extending warranty policy or adding insurance for your smartphone will cost more in exchange for protection coverage in case the device gets damaged. Here are some popular insurance and warranty providers in the United States for iPhone compiled by Digital Trends.

1.      AppleCare+
It cost $99 for two years that extends the warranty and support of Apple. AppleCare+ features two additional incidents of accidental damage coverage but each subject to a $79 service fee plus any applicable tax. Parts covered are battery, cable, charger and headphones from Apple.

Downside: It does not cover lost or stolen units, cosmetic damages that do not affect functionality and normal wear or tear due to aging.

2.      AT&T Mobile Insurance
AT&T charges the Mobile Insurance for $6.99 per enrolled mobile number and covers loss, theft, accidental damage and out-of-warranty malfunction. There is also a "non-refundable deductible" that ranges from $50 to $199 per approved claim.

Downside: If you accept the claim, there is no absolutely guarantee that the replacement is a new model or a re-manufactured unit.

3.      Sprint Total Equipment Protection
Sprint offers the Total Equipment Protection for $11 per month per device and covers it against loss, theft, damage and malfunction. It also covers in-store repairs and liquid damage.

Downside: Similar with AT&T, the claimed new iPhone could be a re-manufactured unit.

4.      T-Mobile Premium Handset Protection
Premium Handset Protection offered by T-Mobile costs $8 per month per device which covers loss, theft, accidental damage and mechanical breakdown. If you want to upgrade further, you can choose the JUMP package which expands the coverage to alarm, locate and lock, remote wiping and protection against viruses and spectators.

Downside: Remote control of the device is already included from Sprint's coverage and replacement handsets from T-Mobile can be "reconditioned."

5.      Verizon Total Equipment Coverage
Verizon offers Total Equipment Coverage which features combined benefits from Asurion's Phone Protection and Verizon Wireless Extended Warranty program. It costs $9.99 for iPhones and covers it against lost, theft, accidental damage, and even mechanical and electrical defect after its manufacturer's warranty has expired.

Downside: Even with impressive benefits, the replacement device can still be a refurbished unit.

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