Due to start covering the iPhone on July 17, the company's existing mobile insurance policy will offer coverage against loss, theft, accidental physical or liquid damage, and mechanical and/or electrical failure after Apple's warranty period expires, according to AT&T. Managed by Asurion, the plan already covers other phones and mobile devices (PDF).
Insuring an iPhone will cost $4.99 a month for each mobile number, while a $50 or $125 deductible will be applied for each claim, depending on the model. AT&T is promising to replace the phone within the next business day in most cases with either a new or remanufactured device but is limiting the number of claims to two within 12 months. Customers can cancel their policy at any time
AT&T currently offers similar iPhone insurance through Asurion but at a cost of $11.99 per month and a deductible as high as $199, depending on the model. Verizon Wireless also offers insurance on its lineup of phones, including the iPhone, through Asurion at a cost of $6.99 per month and a deductible that can go as high as $199 based on the phone.
In contrast, Apple sells its AppleCare Protection Plan for a flat fee of $69. The plan extends the s