I received a call from a good friend and customer who just bougth his daughter an iPhone for Christmas and he called to ask if he could endorse it onto his homeowner's insurance like he would jewelry or furs. In this particular case with this carrier he could not add it as they don't have a category for "electronics" but what he was able to do was to add an endorsement that cost him $10 annually for $3,000 of coverage and a $100 deductible, with some named peril coverages, but with some limitations in coverage as well. The biggest gaps I see in coverage are:
1. water damage is not typically covered by this type endorsement (and we all know how our kids are really tough on these phones.) and
2. wear and tear as well as maintenance are not covered.
As far as I have seen the iCare coverage with apple is about $119 for a two year period, must be bought when the phone is new or within 30 days, but is more broad in most ways as far as coverage. So, you get what you pay for; for $10 and $100 deductible you can basically cover breakage of the phone with most electronic media endorsements. For $119 you get something better.
BUT... a blog that I receive from Steve Anderson, a source I trust may have a less expensive option. He recommends going to Squaretrade as they offer the same warranty service with a couple of upgrades for $99 for a 2 year subscription. Steve is a gadget guru in the insurance field and his recommendations are worth looking into. Hope this helps some of you new proud iPhone owners!
Happy New Year!