AppleCare+ VS SquareTrade | Best iPhone 11 Insurance Coverage

Posted by Todd 09/14/2019 0 Comment(s)

If you’re tossing around the idea of purchasing the new iPhone 11 some extended though is definitely warranted. When comparing the previous model iPhone XS to the iPhone 11 there isn’t all that much difference. The same is true when comparing their larger brethren, iPhone XS Max vs. iPhone 11 Pro Max, not much difference. However, the one thing we’ve seen change from the first iPhone launch on June 29, 2007, to the current iPhone 11 launch date on September 20, 2019, is price.

In 2007, Apple launched the first iPhone with a 4GB model and an 8GB model. The first generation Apple iPhone 4GB model starting price was $499; the 8GB model was $599. Almost immediately after Apple’s new iPhone announcement the press was buzzing about the preposterous pricing. We all know what happened afterwards so let us focus on how Apple has been able to push the envelope on iPhone pricing and why the comparison between AppleCare+ and SquareTrade for iPhone 11 is so critical.

As mentioned previously, the cost of the first iPhone in 2007 was $499 and $599 respectively. Today, the starting cost of the iPhone 11 is $699. At face value these seem comparable despite a twelve year gap. In fact, when adjusting for inflation, the original iPhone was actually a bit pricier at the time then a new iPhone is today; $736.64 compared to $699. My point is, although starting iPhone prices seem to have been in line with past launch prices, it is very misleading. The truth is Apple has reduced iPhone storage capacity as a means to arrive at seemingly consistent iPhone launch prices throughout the years. See How Apple Maintains the Same iPhone Launch Prices Year After Year for more on this.

Moving on, the iPhone 11 Pro Max will match last years iPhone XS Max as the most expensive cell phone at $1449. Granted this is the most expensive iPhone choice with 512GB of storage capacity but the next rung down will still cost you well over a thousand dollars at $1249 for 256GB of storage and the least storage capacity iPhone 11 Pro Max at 64GB of storage will still set you back $1099. Needless to say, $1000+ for something that is potentially in harms way each and every day needs some protection. Hence the meteoric rise of two industries; iPhone insurance and iPhone cases.

Before there was AppleCare

Before there was AppleCare and AppleCare+ for your iPhone there was SquareTrade. SquareTrade was the first company to offer insurance coverage on an iPhone. As the iPhone gained traction so did SquareTrade, which is now owned by Allstate Insurance, and insures not only iPhones, but many other consumer electronic devices as well.

 

AppleCare+ VS SquareTrade

Typically once a market is proven Apple throws their hat in the ring and tries to establish itself as the better choice outside of other entities. It has never mattered that other companies have been first to market with innovative technologies; Apple waits, improves upon, and perfects those technologies before going to market with their own device. This isn’t necessarily the case when it comes to iPhone insurance. Sure Apple waited a while before offering AppleCare but did they perfect this service offering? Let’s see how AppleCare+ compares to SquareTrade for the iPhone 11 Pro Max based on the coverages that matters most: screen damage, other accidental damage, and loss or theft. It is important to note AppleCare+ and AppleCare+ with Theft and Loss are two separate plans with different benefits and costs. The following excerpts are taken directly from Apple’s website.

AppleCare+

AppleCare+ for iPhone includes up to two incidents of accidental damage coverage every 24 months. Each incident is subject to the service fees listed below, plus applicable tax. In addition, you’ll get Express Replacement Service and 24/7 priority access to Apple experts by chat or phone.

AppleCare+ with Theft and Loss

AppleCare+ with Theft and Loss includes up to two incidents of accidental damage, theft, or loss coverage every 24 months. Each incident is subject to the deductibles listed below. In addition, you’ll get Express Replacement Service and 24/7 priority access to Apple experts by chat or phone. Theft and loss coverage requires you to have Find My iPhone enabled on your device at the time it is lost or stolen.

 

How Much is AppleCare for iPhone 11? | How much is Apple Care+ for iPhone 11 Pro, or Pro Max?

For 2019 Apple has changed things up a bit in terms of how you pay for AppleCare. There is now an option to pay monthly beyond the typical 24 month AppleCare contract. AppleCare+ for iPhone 11 costs $149 for a 2-year contract or $7.99/mo and AppleCare+ for iPhone 11 Pro or Pro Max costs $199 for a 2-year contract or $9.99/mo. AppleCare+ with Theft and Loss costs the same amount for the iPhone 11 Pro and Pro Max but it carries a higher deductible. Of course service fees and deductibles are not included in these prices. Fees are outlined below.

 

Service Fees and Deductibles for AppleCare+ and AppleCare+ with Theft and Loss

 

 

SquareTrade Phone Protection Plan Cost = $8.99/mo | Cancel Anytime

Since SquareTrade is actually owned by Allstate Insurance they are a direct provider of the phone insurance policy. With that being said, to them, it doesn’t matter which smartphone you own as long as it is working. As a result, their iPhone insurance coverage is simply grouped into a smartphone protection category rather than insuring a specific phone make and model.  Like AppleCare+, SquareTrade covers both accidents and liquid damage with the big differentiator being no term limit on repairs to your smartphone as the SquareTrade smartphone coverage plans operate indefinitely regardless of the age of your phone and transfer automatically to new phones. For a single smartphone plan you may file up to four claims per plan.

 

 

Square Trade Phone Protection Plus Plan Cost = $12.99/mo | Cancel Anytime

The Phone Protection Plus plan offered by SquareTrade includes all of the above coverage plus premium tech support, Allstate Roadside Assistance, and Identity theft recovery.

 

Square Trade Family Smartphone Protection Plan = $19.99/mo | Cancel Anytime

SquareTrade’s Family Smartphone Protection Plan seems to topple all other iPhone insurance plans as far as what is covered and for how much. At $19.99/mo this plan includes all of the coverage in SquareTrade’s Phone Protection Plan but covers up to four smartphones. That’s a savings of almost $16/mo if you have four phones on a family plan compared to purchasing a single phone protection plan.

SquareTrade Family Smartphone Protection Plan Plus = $24.99/mo | Cancel Anytime

As with the single Phone Protection Plus Plan mentioned above, an entire family of up to four smartphones will receive the identical coverage for all four devices.

 

 

Service Fees and Deductibles for SquareTrade Phone Protection and Phone Protection Plus

 

 

Which is better, AppleCare+ or SquareTrade?

First and foremost, both AppleCare+ and SquareTrade are both great options when it comes to insuring your iPhone. In fact, these should be your only two choices if you’re looking for iPhone 11 insurance. Avoid insurance plans through mobile carriers, more on this in a later blog post. For now, here is the breakdown of the pros and cons of insuring an iPhone 11 through SquareTrade and AppleCare+.

 

Coverage Plan

Cost per Month

Includes

Deductible

AppleCare+

$9.99/mo

Accidental Damage @ 2 Incidents every 24 months, 24/7 access to Apple experts

$29 / $99

AppleCare+ with Theft and Loss

*$9.99/mo

Accidental Damage, Theft / Loss

$29 / $99 / $269

SquareTrade Phone Protection Plan

$8.99/mo

Accidental damage @ 4 incidents per plan, Protects any phone regardless of age, Continuous coverage

$149 per claim

SquareTrade Phone Protection Plus Plan

$12.99/mo

All of the coverage in Phone Protection Plan, Premium tech support, Roadside assistance, Identity theft recovery

$149 per claim

SquareTrade Family Smartphone Protection Plan

$19.99/mo

All of the coverage in Protection Plan, Includes up to 4 phones

$149 per claim

SquareTrade Family Smartphone Protection Plus Plan

$24.99/mo

All of the coverage in Phone Protection Plan Plus, Includes up to 4 phones

$149 per claim

 

 

 

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