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Best iPhone insurance providers: Compare top plans in 2021

iPhones cost a significant amount and are built to last you a long time. But accidents can happen anytime, which is why it’s wise to invest in a good insurance plan. This can come in handy to cover the expenses of any repairs or replacements if your device gets damaged or malfunctions. But what are the best iPhone insurance options out there, and is it worth it? Let’s find out.

Is iPhone insurance worth buying?

By default, your iPhone comes with a 1-year limited warranty against defects and 90 days of complimentary phone support. This is known as AppleCare, and it is automatically applied when you purchase your device. However, it does not protect against any accidental damage such as a drop that cracks your screen, damage from water, etc. For such comprehensive protection, you can opt for an iPhone insurance plan that gives numerous benefits such as: 

  • coverage for accidental damage
  • affordable screen or device replacement
  • protection against loss or theft
  • battery servicing
  • 24/7 tech support

Best iPhone insurance plans

  1. AppleCare+
  2. AppleCare+ with Theft and Loss
  3. SquareTrade
  4. Carrier insurance

1. AppleCare+: Best for most users planning to keep their iPhone for over 1 year

AppleCare+ iPhone insurance provider

AppleCare extends the standard one-year warranty on your iPhone to two years, along with phone support for the two years rather than the standard 90 days post-purchase support. You can opt into it when purchasing your iPhone or buy it anytime up to 60 days after your purchase. 

Then, whenever you face any issue with your phone, you can call 1-800-MY-APPLE and ask for AppleCare, or dial 1-800-APL-CARE.

What’s more? If you break your iPhone or drop it in water, you’ve got some additional options. AppleCare+ gives you the chance to exchange a damaged iPhone for a new one on the spot up to twice. There’s a deductible of $29 per screen or $99 for other damage,

However, AppleCare+ does not protect against theft or loss of your device. For this, you can go for the slightly more expensive AppleCare+ with Theft and Loss insurance.

2. AppleCare+ with Theft and Loss: Best for those prone to losing their phones

This insurance option for iPhone offers the same protection and service fees as AppleCare+ and for a $229 or $269 deductible cost replaces a lost or stolen iPhone up to two times. 

Do note that theft and loss coverage requires that Find My iPhone is enabled on your device before it gets lost or stolen. 

During the claim, you will have to erase your missing device, disable it, and transfer ownership. Only then will you be issued a new replacement device.

Here’s an overall comparison of Apple Care+ and Apple Care+ with Theft and Loss: 

DeviceApple Care+Apple Care+ with loss and theft protection
iPhone 12 Pro, 12 Pro Max, 11 Pro, 11 Pro Max, XS, XS Max, and X$200 or $10 per month$270 or $13.50 per month.
iPhone 12, 12 Mini, 11, XR, and 8 Plus$150 or $8 per month$220 or $11.50 per month
iPhone 8 $130 or $6 per month$200 or $9.50 per month
iPhone SE$80 or $4 per month. $150 or $8 per month

You can buy the AppleCare+ plan through Apple’s official website.

3. SquareTrade: Best for those who live far from an Apple store

SquareTrade insurance provider for iPhone

SquareTrade is a third-party insurance provider for iPhone that offers coverage for drops, spills, and malfunctions. 

It does not have any retail outlets you can go to get your phone fixed, but it offers free two-way shipping.

In addition to accident coverage, SquareTrade offers:

  • reimbursement for Genius Bar appointments
  • next day replacements
  • coverage for same-day repairs through local service shops in your area. 

There are two plans to choose from: 

  • Single plan at $8.99 per month. It covers accidents and provides continuous coverage when you upgrade phones.
  • Family plan for $19.99 per month. It covers up to 4 devices.

Deductibles: $25 deductible for screen repairs and a $149 deductible on all other claims

4. Carrier insurance: Best for family or multiple device plans 

Carrier insurance for iPhone

All major carriers such as VerizonAT&T, and Sprint offer insurance for your iPhone, but it’s usually not worth going for these plans because of high monthly fees and deductibles. 

However, in some cases, they can be a viable option, such as, for instance, if you want to get insurance for all the devices in your family or want to protect multiple devices like your iPhone and Apple Watch under a single plan. 

Q. Can you insure an iPhone?

Yes, there are a number of ways to insure your iPhone. However, most people prefer buying directly from AppleCare.

Q. Who should get iPhone insurance? 

iPhone insurance is essential for those who are accident-prone or tend to lose their phones easily. It’s a wise option if you intend to keep your iPhone for more than a year. 

Q. How much does AppleCare+ cost? 

This depends on your device. If you have newer devices namely iPhone X or later, the protection plan starts from $10 monthly or $200 yearly. It is lower for older devices.

Q. How can I buy AppleCare+ for products I didn’t buy directly from Apple?

It’s easy to opt for AppleCare+ anytime up to 60 days after purchasing your iPhone. You can get it online by going to Apple’s Service and Support page. Enter your device’s serial number to be guided through the process of purchasing a plan. You will have to run a diagnostic test on your device to ensure that you’re not trying to buy a plan for a device that’s already damaged.

Q. Can I cancel an iPhone insurance plan? 

Yes, you can usually cancel a plan within a limited period after buying it. For instance, if you cancel Apple Care+ within 30 days of purchasing it, you will get a full refund less any service you received. Call Apple on 1–800-MY-APPLE for more details.

Our verdict: What is the best iPhone insurance? 

If you plan on hanging onto your iPhone for a couple of years, AppleCare+ is a wise choice, especially if you’re prone to damaging your device. It can save you a lot of cash in case of any accidents. 

For those who are a tad more careless and quickly lose their devices, Apple Care+ with theft and loss protection is useful. 

Further, Square Trade may be your best bet if you don’t live within close range to an Apple Store. 

Lastly, Carrier insurance plans might be worth it when insuring multiple devices at the same time. 

On the whole, for the average user, Apple Care+ is the best iPhone insurance that can help you keep your phone in excellent condition and get affordable repairs and replacements when needed. 

Let me know in the comments below if you have any more questions about insuring your iPhone. 

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