Did you get your policy before the price of the iPhone dropped to $400? I heard that State Farm wasn't writing new policies for the iPhone since it no longer costs more than $500. Or did you get around that by insuring two of them?
I have to disagree that these insurances are a waste of money. If it really does only cost $80 a year, I'd definitely pay that for the piece of mind in case anything happened or it got stolen so I wouldn't have to shell out $400 again. I don't currently have one, but I might look in to it now that i know I can.
I just bought insurance for my iPhone through State Farm. Only cost $35 with no deductible. Covers theft, accidental damage, water damage, etc. They're going to send me info on my policy but this is what the broker told me. They cover any cell phone under their "personal articles insurance" as long as it is at least $400.
I think the coverage varies from state to state with State Farm depending on the value of the phone. I got my insurance through a PAP with SF days after iDay and the agent told me as long as the value was over $500 then they could insure it. I called when the price drop occurred and she said they were no longer issuing insurance for the "new" iPhones ($400 ones) but would allow me to keep my policy I had already purchased.
i agree with termleech.
I just don't think an iPhone is something you can afford NOT to have covered.
I looked into the whole insurance thing too but it just seems sketchy. I ended up giving Squaretrade a shot. . So far, so good. I just registered online and got an even deeper discount using the discount code they have on the website. It covers "drops, spills and water damage" which is BOUND to happen...