Which is Better: Carrier or Apple iPhone Insurance?

When Apple released the new iPhone X in fall 2017, it immediately became the most expensive iPhone in history. The model with a 5.8-inch display screen and 64 GB storage will run you $999, and the 256 GB version costs $1,149.

That’s a huge jump over previous iPhone prices. The iPhone 8 could be yours for as little as $699, the iPhone 7’s entry-level model ran $549, the iPhone 6 started at $449, and the iPhone SE could be had for just $349. (Check out the infographic at the bottom of this page for more detail.)

All that to say: iPhone X insurance is a good idea. But which is better: carrier insurance or Apple iPhone insurance?

Meet AppleCare+

Apple thinks of everything, doesn’t it? Knowing how expensive its devices are, the company naturally offers its own insurance — AppleCare+. What is AppleCare+ insurance? It’s the company’s own insurance plan, one that allows it to better assist customers while also enjoying another stream of revenue.

But is AppleCare+ a good idea? The AppleCare+ cost is a flat $199. You can pay that fee upfront, or you can include it into the financed purchase of your phone. The AppleCare+ plan is good for 24 months (which is also a common financing term), and it will cover up to 2 accidental damage incidents.

If you break your screen, the cost is $29. If the entire phone needs replacing, the cost is $99. These additional fees serve as deductibles in a sense.

Here’s another way to think about it: If you own your phone for the full 24 months and need it replaced once due to accidental damage, iPhone X AppleCare+ will put you back a total of $298. Or, if you own your phone for the full 24 months and need the screen replaced once due to a crack, you’ll be out a total of $228.

There is one huge drawback to AppleCare+, though: It does not cover theft. If you want your phone replaced, you’ll need to produce the damaged/broken device.

Explore Your Carrier Insurance Options

AppleCare+ isn’t your only option for iPhone insurance. You can also choose to get your device covered through your cellular provider. Are carrier insurance plans better than Apple iPhone insurance? Only you can be the judge of that.

Here’s a look at insurance plans available through the big 4 iPhone carriers: AT&T, Verizon, Sprint and T-Mobile:

AT&T

AT&T’s iPhone insurance plan covers damage, loss and theft (which you’ll discover ALL carrier insurance plans cover). The cost of AT&T’s insurance for the iPhone X is $9 per month, and it costs you $90 for a screen replacement and $299 for a full replacement.

Sprint

Sprint’s plan is a little unique in that is acts as a hybrid plan in tandem with AppleCare+. The plan costs $13 a month and covers damage, loss and theft. Screen repairs ($29) and full replacements ($99) are covered through Apple at AppleCare+ rates, and Sprint will replace your phone due to theft or loss for $250.

Verizon

Verizon also covers damage, loss and theft, just like AT&T, but at a rate of $11 a month. Screen replacements cost $49 and full replacements cost $199.

T-Mobile

T-Mobile offers a hybrid plan much like Sprint’s. The plan is $12 a month and covers damage, loss and theft. Apple takes care of all screen replacements and full damage replacements at the rates listed above, and T-Mobile provides replacements due to theft or loss for $275.

Out of Pocket Costs

Why do you need to consider carrier or Apple iPhone insurance in the first place? Because cracking your screen or severely damaging your iPhone are seriously expensive accidents.

If you own the iPhone X and your screen cracks, a replacement is going to cost you about $250 to $300. And, what’s worse, many users report that replacement screens never work as effectively as the originals. And that’s a big problem when you’re using a touchscreen device.

If you own the iPhone X and your device suffers severe damage, repairs are going to cost in the $500 to $600 range. That’s a tad over half what it cost to buy the phone in the first place.

Yes, it’s entirely possible that you make it through 2 years without breaking a screen or otherwise damaging your phone. But, if you do, you’ll wish you had carrier or Apple iPhone insurance backing you up.

Final Thoughts on Carrier vs. Apple iPhone Insurance

What’s the best iPhone insurance for you? It comes down to a simple question: How fearful are you of your device getting stolen? If you fear theft, it’s best to go with a carrier plan (or hybrid plan) that covers it. If you don’t, it’s best to go with AppleCare+.

Only you can evaluate the risk to your device. But please consider getting some sort of insurance, no matter what risks concern you most. It’s far better to finance an AppleCare+ plan or to pay monthly for a carrier plan than it is to pay out of pocket for repairs that might not even return your phone to its original condition.

And here’s one more tip: Don’t just toss your broken or damaged device into a drawer after you get a new one. Instead, make sure that old device is earning you money. At SwiftTechBuy, we purchase broken and damaged devices in exchange for cash. Find out how it works.