updated 03:40 pm EDT, Fri June 4, 2010
Two-year coverage available for $99
SquareTrade has introduced a new warranty plan for iPhone owners. The plan protects against normal use failures, along with accidental damage, such as water or impact, that is not covered by the standard AppleCare terms.
The company claims most repairs are completed on the same day the device is received, with free overnight shipping to and from the depot. Rather than providing refurbished devices for replacements, customers will receive cash for iPhones that cannot be repaired.
The SquareTrade plan is currently offered for $99, just $30 above the two-year AppleCare plan. Normal use failures are covered without a deductible, although accidental damage requires the user to pay $50 per claim. Best Buy and AT&T also offer extended warranties with accident coverage, however the plans cost $15 and $14 each month.
iPhone owners must sign up for the SquareTrade plan within 90 days of purchasing the handset. The same fee applies to each type of iPhone. Interestingly enough, the company's website lists options for a 32GB and 64GB "iPhone 4G."