After years with no love from the main insurance companies, Asurion has launched a comprehensive insurance plan for the iPhone. The cost, you ask? A somewhat high $11.99 monthly. Granted, paying $599.99 (or more) for an unsubsidized iPhone is never ideal, but $11.99 monthly translates into about $144 per year. To their credit, Asurion's "Mobile Protect" plan offers some nice perks - namely, accidental damage protection and overnight replacement. Charged to your credit card monthly, the plan also covers cracked screens, water damage, loss, theft, and out of warranty issues.
When it comes to wireless phone insurance, I've always been a fan of it, with one caveat - cancel it after a year. Statistics have always shown that a majority of accidents happen within the first year of ownership. This is one of those things where I'd say get it, keep it for a year, and remove it. Keeping in mind that there's a deductible of $99, $149, or $199 depending on the model, keeping it over one year may not be worth it ($144 + $200 deductible for iPhone 4 = $344 at one year point). That being said, it's nice to see someone offer protection for the iPhone series, and I can see several accident-prone users (such as myself) jumping on the opportunity.
The protection plan is available today for all iPhone customers (including iPhone 4), and customers can enroll up to 30 days after purchase. The full press release is below. What's your strategy here - pay for a year and cancel, keep for the life of your contract, or forego altogether?
iPhone® Customers Can Now Enroll In a Comprehensive Insurance Plan
MobileProtect™ is the first product to cover loss and theft in addition to water or other liquid damage, accidental damage, and out-of-warranty failure for your iPhone.
NASHVILLE, Tenn., June 23 -- Asurion, the global leader in technology protection services, recently announced the launch of MobileProtect, the most comprehensive insurance program available for the iPhone -- including the iPhone 4. With Asurion MobileProtect, iPhone users who lose their phone, have it stolen or damaged -- including water or other liquid damage -- or who experience a failure after the warranty has expired can receive a replacement iPhone as quickly as the next day.
"Nearly 50 percent of claims we see are filed for lost and stolen phones," said Cindy Christy, Asurion President. "MobileProtect is the first product to include loss and theft coverage in addition to protection for damage and failures after the warranty expires. Plus, it provides the added convenience of next day replacement in most cases."
Consumers need a comprehensive solution when faced with a lost, stolen, damaged or failing iPhone. The cost of replacing their coveted iPhone can leave consumers responsible for paying the replacement price of up to $699 out of pocket. MobileProtect provides customers with a single point of contact for total peace of mind and total protection for their iPhone while helping customers avoid costly replacements.
iPhone customers may enroll in MobileProtect up to 30 days after activating their new iPhone. Enrollment is simple: Customers simply visit the App Store(SM), download the Asurion MobileProtect App on their iPhone, click "get started" and follow the guided process.
Filing a claim is just as easy. MobileProtect subscribers may visit www.MyMobileProtect.com 24 hours a day, seven days a week to report a lost, stolen, damaged or faulty iPhone.
"In our conversations with customers we often heard how valuable iPhone protection would be," said Mike Dolezal, Asurion Product Manager. "To a growing number of consumers, the iPhone is central to their work and home life. If something happens to their device, MobileProtect customers don't have to be without their iPhone, their direct connection to family and friends, for long."
Pricing and Availability
MobileProtect is now available for the iPhone, including the iPhone 4. To get started, consumers simply download the app from the App Store within 30 days of activating their new iPhone. Rather than large up-front fees, MobileProtect customers will be charged $11.99 monthly and there is a one-time deductible for each approved claim of $99, $149 or $199, depending on the iPhone model. To learn more, visit MyMobileProtect.com.
*Next Day Delivery not available in all areas.
Asurion is the global leader in Technology protection services. From lost, stolen and damaged wireless handsets to malfunctioning computers or HD-TVs, Asurion provides more than 90 million consumers worldwide with best-in-class, next day device replacement. The company can also protect user content and software. Asurion is the exclusive provider to many of the world's premier telecommunications and retail companies. Asurion is privately-held with more than 5,000 employees and operates in six countries across three continents.