Come this July 17th, the insurance premium offered for the iPhone will be lowered for AT&T subscribers. The new program, which is offered in partnership with Asurion, will cost $4.99 per month to insure along with a deductible of $125 per claim for smartphones, of which the iPhone is classified as, or $50 for feature phones.
The stipulation is that enrollment in insurance is limited to 30 days of new activation or upgrades. If you’ve bought your iPhone before 30 days of July 17th, you would not qualify. It’s unclear if customers on the current insurance program who had purchased their iPhones prior to the 30 day cut-off would be eligible for the new insurance program with lower rates and lower deductible, but it’s possible that AT&T could automatically roll those subscribers over automatically to the new terms.
Please Note: AT&T Mobile Insurance Update: Effective July 17, 2011, the Apple iPhone (all models) will be eligible for coverage with the AT&T Mobile Insurance program (formerly Wireless Phone Insurance). Enrollment restrictions apply. Customers can only enroll within 30 days of a new activation or upgrade, prior activations or upgrades outside of 30 days are not eligible.
Prior to the new insurance program effective July 17th, AT&T has offered insurance for the iPhone since the launch of the iPhone 4. That program was more expensive with a $12 per month fee and a $200 deductible. Previous to the iPhone 4, no insurance is offered for the Apple smartphone.
The benefit of the AT&T insurance program is that it covers everything from accidental damage (including dropping your phone in a pool) to losses or theft of the device.