No there is not a $75 insurance plan. You pay $15 a month on a credit/debit card and if anything happens they will repair/replace your iPhone. No deductible so it is worth it and better than paying SquareTrafe over $100 then a $50 deductible. So you come out of over $150 dollars then they send you a check for $399 minus the $150 you already paid them for a 32 gb iPhone You are really only getting $250 then you go to Apple and pay $699. If anything your better off with no coverage and paying Apple $199 for a out of warranty repair.