The iPhone is not an inexpensive cell phone to purchase. It is, on the other hand, susceptible to theft, damage and loss. You may leave it at a Starbucks one day and never being able to claim it back. If you can pay the hefty amount for an iPhone and a few extra dollars for that Grande Mocha Frappuccino, you can afford iPhone insurance. A small monthly fee could save you hundreds of dollars should anything happen to your iPhone. Till very recently, insurance providers were not offering iPhone insurance. Apple and AT & T still do not offer iPhone insurance. It may have been too expensive or too problematic for them.

The good news is that iPhone insurance is now readily available through third party providers. Many people ask themselves if iPhone insurance is really worth it. The following are a few reasons that provide the answer to that question.

First, it is important to look at the statistics regarding iPhone loss and damage. iPhone Water Damage Nearly 1.2 million phones face water damage in one year and thousands of them are iPhones. Once your phone falls into water, the chances of saving it are minimal to none. Apple is also keen on not allowing phone exchanges or returns in the event of water damage. Without insurance, the owner of a damaged iPhone will have to cough up a few hundreds to purchase another iPhone or simply downgrade to a less expensive cell phone. Losing an iPhone More than 1.6 million phones are lost every year and thousands of them happen to be iPhones.

As much as you call the last store you were at and look under the seat of your car, once an iPhone is lost, there is no way of getting it back. If you leave your iPhone unattended, chances are someone will decide to take it. Even if you decide to purchase a refurbished iPhone, you will be spending another 150 dollars at the least. Replacing your iPhone with a brand new one is going to cost you more than double that price.

In other words, rather than breaking the bank to replace your phone, you can purchase iPhone insurance. You will be required to pay monthly fees but the total fees added up at the end of the year will cost less than a new phone. In this case, iPhone insurance is worth it. When you have insurance coverage on your phone and you make a claim for loss or damage, you will be sent a replacement phone in no time.

It is important to do your research and find the best deals for insurance. Another crucial step to take is to check out the amount of coverage the insurance provides. This should include theft, loss, major damages, water damage and so on. A few scratches on your brand new iPhone are not included in the insurance policy. Be sure to check these conditions as well as the amount of time it takes to obtain your replacement. By understanding the financial burden you can potentially find yourself in when you lose your phone, it is more economic to invest in iPhone insurance instead.