Five Ways iPhone Insurance Beats AppleCare -Verizon iPhone

If you just ordered your iPhone 4 on Verizon and are patiently, yeah right, waiting for delivery, here’s a look at how you can keep your iPhone protected with iPhone Insurance.

Unlike your old phone on Verizon, you can’t purchase protection against accidental damage direct from Verizon. Rather than buying AppleCare, which doesn’t cover accidental damage or theft, we suggest you look into a service that sells extended warranties like SquareTrade or a company that sells iPhone insurance like the Worth Ave Group.

Unlike the direct from Apple warranty, a Worth Ave Group iPhone insurance plan covers much more and it can be purchased at any time during your iPhone ownership, not just the first 30 days. Additionally, the iPhone insurance covers a lot more than AppleCare. This is very important because even though you bought the Verizon iPhone for $199, the actual cost to replace it is closer to $700 when you are not signing a new contract.

The Worth Ave Group provided the following Five Ways iPhone Insurance Beats AppleCare:

  • Theft protection: The iPhone 4 is a $700 pocket-sized electronic device…one that you leave on tables at coffeeshops, leave unattended in your car, set down for a second as you turn to do something else. That’s all it takes for someone to steal it…and warranties don’t cover theft.
  • Accidental damage: Let’s say that you take extra care with your iPhone and never let it leave your side. What about accidents? Drop it or spill liquids on it…and you can kiss your phone goodbye.
  • Repairs: Under a warranty, there’s often a clause that in case of damage not covered, you have to have your phone repaired at pre-approved repair shops. Finding these shops and when they’re actually open for business is a pain – and then there’s the cost of the repair itself.
  • Refurbishment vs. replacement: Under a warranty, should something under its coverage go wrong, your phone will be replaced – but often with a refurbished unit. With the right iPhone insurance, you could get a new phone – not just “new to you”.
  • Acts of God, small children, animals, fate: Sometimes, the completely and utterly expected happens. Fires, floods, lightning strikes, power surges, extreme humidity, small children and curious pets often strike when least expected. Will your warranty cover that?

One additional way that Worth Ave Group sets itself apart is that you can insure refurbished, used and even jailbroken iPhones with the service.

Insuring your iPhone 4 on Worth Ave Group comes with an $89 annual premium, currently discounted to $80.10 with the promo code WAGRULES. If your iPhone fails while you are covered you will pay a $50 deductible and send your iPhone to Worth Ave Group. Worth Ave Group will then send you a check for $600, minus the $50 deductible. The prices and coverage varies based on the iPhone model you want to insure, but if you are getting the Verizon iPhone 4, those are the base prices.

SquareTrade also covers accidental damage with a deductible and may offer a cheaper plan, currently 2 year’s of coverage is on sale for $81, but keep in mind that SquareTrade doesn’t cover theft.

Keep in mind that your current insurance company for home or renter’s insurance may offer a add-on that would cover the iPhone, but there’s something to be said for going with a company that specializes in offering gadget insurance.

Image via DaveOnFlickr