How Much Does the Insurance for iPhone Cost?

While purchasing insurance for your iPhone, you have two options. You can buy AppleCare+ from Apple or an iPhone insurance cover from a third-party insurer.

AppleCare+ is an accidental damage insurance policy that usually has a plan period of two years. The price of AppleCare+ varies with the model. For the iPhone Pro series, it stands at around Rs.27,000, and for iPhone 13, 13 mini, 12, 12 mini, and 11, it costs about Rs.17,000. For iPhone SE, AppleCare+ costs Rs.9,900. AppleCare+ offers up to two accidental damage protection every 12 months to your device and its battery. And at each occurrence, it charges a sum as a service charge from you; Rs.2,500 as service fees for minor screen/ back glass damages, and for other damages, it can go up to Rs.8,900. In India, AppleCare+ does not offer loss or theft protection.

On the other hand, many insurers provide iPhone insurance coverage, such as Mobile Protection Plan for iPhone from Bajaj Finserv, at a much lower price and ample benefits. These iPhone insurances cover both accidental damage and offer protection against loss and theft. A few coverages and benefits that most third-party insurers offer are:

Screen damages
Liquid damage
Motherboard damage and malfunctions
Coverage for the headphone jack, camera, mic, etc.
Repair/replacement of parts
Battery failure
Loss, theft, robbery, etc.
Global coverage
Free antivirus and malware protection
Cashless protection for a certain number of claims every 12 months. Here, the number of claims vary from insurer to insurer.
No claim bonus

Most third-party insurers offer you a flexible plan period; you can select one from 1-year, 2-year, or 3-year plan periods. And the premium you need to pay for the iPhone insurance depends upon the plan duration, benefits included in the plan, and the invoice value of your device. Though many insurers insist that the device should be new, a few offers insurance for old iPhones as well; under the condition that the device should be in perfect working condition at the time of buying the insurance plan. Also, depreciation will be applicable for old handsets while calculating their value. The maximum coverage that third-party insurers offer is usually the same as the value of the handset.

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