iPhone 6s/6s+ Insurance Options

You just picked up the latest tech from Apple and now you want to add some insurance just in case an accident occurs.  The devices are costly themselves and can be costly to repair or replace so let's talk about some of the options you have when it comes to getting insurance for your new iPhone.

Applecare+ Insurance
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Apple offers it's own insurance that covers your phone for 2 accidental incidents and extends your mechanical warranty by an additional year.  The bad news is that this year the price jumped from $99 to $129 for the insurance plan and the deductible jumped from $79 to $99.  They do not cover loss and theft, but they probably provide one of the better services since you are dealing with the source.

If you decide to use Apple's Upgrade Program which they introduced this year then Applecare+ is already included in the monthly cost of the device.

Initial Cost: $129 (2 years)
Deductible: $99 per claim (max 2)

Pros:
+ Great support w/Apple
+ Cheaper than carrier insurance

Cons:
- Price increase this year on the warranty and deductible, $129 and $99 respectively.
- Covers only up to 2 accidental incidents
- Theft/Loss not included

Carrier Insurance
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Let's be honest here, the insurance plans offered by the carrier's are quite expensive compared to other options that are available.  The benefit they offer over the competition is that they cover theft and loss.  But if you don't plan on losing your phone or if theft is not an issue (knock on wood) I would look elsewhere.  The image at the end of the article doesn't include T-Mobile.  T-Mobile costs $8 per month ($192/year) for the insurance, limited to 2 accidental incidents per 12 months, with a $175 deductible.

Initial Cost: $192+ (over 24 months and depends on carrier)
Deductible: $175+ per claim (depends on carrier)

Pros:
+ Theft/Loss included

Cons:
- Most expensive option
- High deductible
- Carrier repair limitations

Squaretrade Insurance
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Squaretrade is very popular and has been around for quite a while.  They are by far one of the most well known insurance providers and are quite affordable.  A 2 year plan starts at $99 and a 3 year starts at $129, both one time payments.  They also offer a monthly plan which is $8 a month.  The great news is that the deductible is only $75 per claim.

Initial Cost: $99 (2 years)
Deductible: $75 per claim

Pros:
+ Affordable
+ Cheapest option listed

Cons:
- Theft/Loss not included

ProtectYourBubble Insurance
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I recently came across a new insurance provider which is similar to Squaretrade.  It is the same provider that is used by T-Mobile.  The cost to insure the first device is $5.99, second device is $4.99, and then it is $3.99 for every device after that.  So if you want to insure more than one device then this might be a better option.  The deductible is also $75 per claim for smartphones.

Initial Cost: $144 (1 device/2 years)
Deductible: $75 per claim (unlimited claims)

Pros:
+ Affordable
+ More devices insured, cost per item decreases.

Cons:
- Theft/Loss not included

*T-Mobile is $8 per month ($192/year), 2 accidental incidents per 12 months, with a $175 deductible and covers Loss & Theft protection.