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An overview of the iPhone insurance market since verizon and Sprint are in

n2_edmond

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Phone insurance is much like putting gas in your auto - you don't want to buy it but you have to. So who would have thought it would be wielded as a major highlighted weapon in the fight of the Titans. Well it is the case. http://www.ensquared.com/iphone_catalog iPhone insurance sold by Ensquared the #1 Authority on all phone insurance in the USA and Canada took a big hit recently when AT&T cut premiums by half literally overnight. The action in the cell phone insurance arena was dumbfounding to say the least but in hindsight there was method to AT&T's madness.

Knowing the Underwriting risk of phone insurance and specifically iPhone insurance Ensquared believes AT&T are selling their coverage of accidental damage, Lost & Stolen at a loss. The Reason? Apple have just opened the iPhone product recently to Verizon and now Sprint. In between they also gave it to Radio Shack. This means that the heyday for AT&T are over. They face fierce competition from these carriers and retailer. Verizon iPhone insurance is still selling at the traditionally high carrier premium of $11 with up to $199 deductible, and Sprint have taken the decision not to offer it at all. The best you get with Sprint is Apple Care, which is simply extended warranty and a very expensive one at that. So this means that as an iPhone subscriber owning an iPhone 4S which if seriously damaged, lost or stolen and needs to be replaced at north of $700 you are not covered at Sprint at all; you have expensive coverage at Verizon and at just on $6 per month with $179 deductible you are reasonably well covered with AT&T. This is a real good reason to stay with AT&T, and that is the AT&T thinking.

The truth of the matter is that a great many phone users are with Verizon and Sprint and either just have to suck up the iPhone insurance disadvantage or go to phone insurance options at Ensquared (or their ilk). The Internet is turning out to be the very best iPhone insurance resource in the advent of the split of marketing of iPhones. Now Ensquared can really make a mark with Verizon subscribers and Sprint by servicing at the excellent premium of $98.99 for comprehensive cover and less than $4 per month with a $50 deductible for accidental coverage only. Ensquared iPhone insurance also covers iPhones less than 90 days old (AT&T and Verizon only give you 30 days grace). The market is wide open even though AT&T customers are probably the least interested as their loss leader iPhone insurance deal is to their benefit. Ensquared are very happy that they are now in the forefront of options on iPhone insurance for the vast body of Verizon and Sprint customers. As a leader in all respects on the Internet offering comprehensive coverage why sh
 

bogatyr

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AppleCare has accidental on the phone for $49 deductible I thought.
 
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n2_edmond

n2_edmond

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Yes, Apple has extended and improved on their offer. What was previously only an extended warranty for a premium of around $69 has been enhanced to $99 that allows for maximum 2 accidental damage claims (no limit stated so it is assumed to cover even the worst damage) over the two year period at a service fee (same as deductible) of $49 per claim. So Sprint in effect offers its subscribers specified two accidental damage claims plus extended warranty (effectively in the second year only after manufacturer's warranty expires) for $99 but notably leave Lost and Stolen risk exposed. OPTIONS TO APPLE CARE: (a) SquareTrade offers Accidental cover and Extended warranty for $99, with a $50 deductible but has a serious shortcoming. Its total capped claim limit for all accidental damage claims is $599. A seriously damaged iPhone may cost $700 to replace. Do the math. The accidental damage TOTAL claim limit may well allow for less than 1 claim before it expires. Apple Care is a better proposition (b) Ensquared: For $89.99 Ensquared offers up to 3 claims over two years for Accidental Damage only, each independently valued at $1000 (more than enough for a full iPhone replacement on each claim) with $50 deductible (i.e. total claim value of $3000 in SquareTrade terms VERSUS SquareTrade $599). This validly addresses Apple Care by offering an extra claim on Accidental Damage in lieu of extended warranty. Also the three claims can be applied at any time in the two year period and is not restricted, like extended warranty, until after manufacturer's warranty expires.
 

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