SquareTrade Rolls Out New iPhone Warranty Program

SquareTrade, a popular electronics warranty company offering coverage for a wide array of devices including the iPhone and iPad, has rolled out a revamped iPhone warranty program temporarily priced at $99 for two years of coverage, with a regular price of $124. The warranty provides coverage against drops, spills, and general hardware failures, accidental claims typically requiring a $50 deductible and standard hardware failure warranty claims requiring no deductible. Premiums and deductibles are the same for all iPhone models.

AT&T has been rumored to be introducing an iPhone-specific version of its MobileProtect insurance plan through Asurion to be priced at $13.99 per month with deductibles ranging from $99 to $199 depending on the model of iPhone involved in the claim. While considerably more expensive than SquareTrade's new plan, AT&T's plan does also cover loss or theft in addition to the out-of-warranty hardware failures covered by both plans.

SquareTrade's plan offers free overnight shipping both ways for repairs, and claims that most repairs are done on a same-day basis. If SquareTrade is unable to repair a broken iPhone, it will provide cash value to the owner for a new replacement phone. Users must enroll in the service within 90 days of the purchase of their iPhone, compared to a 30-day window for AT&T's plan. If a customer purchases a SquareTrade warranty on the same day as their iPhone, coverage begins immediately, but policies purchased on a later date within the 90-day window are subject to a 30-day waiting period for accidental damage coverage.

In anticipation of the introduction of new iPhone models on Monday, SquareTrade has already populated its drop-down menu with options for users to select an "iPhone 4G 32GB" or "iPhone 4G 64GB". Those options will presumably be quickly adjusted to reflect the actual product names and capacities once they are announced.