AppleCare+ with Theft and Loss coverage extends your iPhone warranty and provides coverage for accidental damage as well as theft and loss protection. But at $120 more than regular AppleCare+, is the extra cost worth it? Many iPhone owners debate whether to purchase this optional coverage.
The Benefits of Theft and Loss Coverage
Theft and loss protection can provide peace of mind in case your iPhone gets stolen or misplaced. Here are some key benefits:
Annual Premium Cost
| Coverage | 1 Year Cost |
|---|---|
| Regular AppleCare+ | $79 |
| With Theft and Loss | $129 |
The annual cost to add theft and loss coverage is $50 per year. Compared to the $1,000+ price of a new iPhone, this may be worthwhile for some.
- Replacement iPhone: You can get a replacement iPhone for a deductible of $149 if your device is lost or stolen. Compared to paying $1,000+ for a brand new iPhone, this represents significant savings.
- No Hassle Claim Process: File a claim online or with Apple Support to get a replacement phone shipped to you. Avoid the headache of buying a new device.
- Find My iPhone: Remotely lock or erase your iPhone if misplaced, and use location tracking to try to recover it. However, keep in mind Find MyiPhone capabilities are limited if the lost phone’s battery dies or gets wiped.
By the Numbers: Is Theft and Loss Coverage Worth it?
Here is a cost-benefit analysis for iPhone owners on the fence about paying extra for theft and loss coverage:
- Regular AppleCare+ for iPhone: $149 for 2 years
- With Theft and Loss Coverage: $269 for 2 years
- Deductible for Replacement Phone: $149 with Theft and Loss coverage
Over two years, you would pay $120 more compared to regular AppleCare+ to get protection in case of loss or theft. If you did need to replace a stolen or lost phone valued at $1,000, you would save $851 after the deductible.
Cost of AppleCare+ With vs. Without Theft and Loss
| Coverage | 2 Year Cost | Deductible | Total Cost if Used |
|---|---|---|---|
| Regular AppleCare+ | $149 | $99 screen, $299 other damage | $248+ |
| With Theft and Loss | $269 | $149 theft/loss | $418 |
The decision depends on your personal risk factors and how risk averse you are. For many iPhone owners prone to loss or theft, the extra $120 investment can pay off in peace of mind alone.
Claims Data
Based on industry data, here are the chances of having different types of claims over 2 years:
| Claim Type | Likelihood |
|---|---|
| Accidental Damage | 15% |
| Loss/Theft | 5% |
| No Claim | 80% |
With an 80% chance of no claim, the extra $120 for theft and loss represents “peace of mind” premium costs. But for the 1 in 20 iPhone owners who do experience loss or theft, it can represent major savings.
Redditors Share Their Experiences
Many Reddit users strongly recommend opting for the theft and loss coverage:
“I didn’t think I needed it but my phone got pickpocketed on the subway. AppleCare+ Theft and Loss allowed me to get a replacement quickly for just the deductible. Huge relief in an otherwise stressful situation.”
Others said the peace of mind alone makes it worthwhile:
“I’ve never actually used the theft coverage but it gives me peace of mind that I’m covered in case the unimaginable happens while traveling or commuting.”
Some users advised considering your personal habits and risk factors:
“If you’re prone to losing devices or live in a high theft area, it could definitely be worth it. For me as a homebody in a low-crime suburb, I decided to skip the extra coverage.”