No insurance for iPhone - deal breaker for me.

[savar]

And by the way - purchasing insurance on small ticket items like consumer electronics is basically always a losing proposition. The companies selling insurance expect to make money on it (otherwise they wouldn't be in business) - which means they expect, on average, for you to pay more in premiums than they have to pay out.

Thanks for explaining what insurance is. So you're saying insurance companies are actually trying to make a profit on us? I thought the insurance industry was a philanthropic institution. Those little sneaks...

 

[rayward]

Could be that your homeowners policy would cover it however. It's something you'd have to ask your agent.

Your homeowners policy will cover it for accidental damage and theft (not breakdown which will be covered by the warranty for a while at least), but at $500 the iPhone will be at or below the deductible for most homeowners. You could add it to a Personal Effects policy (which is what I will do) that will have a zero deductible but which still wouldn't protect you from the thing going on the fritz after the warranty's expired.

Yes, I am an insurance professional.