Another option for iPhone insurance: credit card purchase protection

We previously reported that the iPhone is covered under a standard limited one-year Apple warranty, but is not eligible for AT&T's wireless phone insurance, which (for a $5 monthly fee) will provide replacement in the case of loss or theft, accidental physical or liquid damage or mechanical and electrical failure after the manufacturer's warranty period has expired, and noted several options for protection. Among them: AppleCare, third-party warranties like those offered by SquareTrade and Homeowners'/renters' insurance.

One set of options we left out is purchase protection plans offered by credit card companies.

As noted by iPhone Atlas reader Scott William, the American Express Gold Rewards Card generally includes the following protections:

• Purchase Protection Plan: The Purchase Protection Plan will repair or replace illegible items, or reimburse the amount you charged to the Card for covered items, up to $1000 per Occurrence, if they are stolen or accidentally damaged up to 90 days from the date of purchase.
• Buyer's Assurance Plan: The Buyer's Assurance Plan extends the terms of the original manufacturer's warranty on covered items, up to one additional year on warranties of five years or less that are eligible in the U.S., when the entire amount was charged to your Card.

Meanwhile, with Visa's purchase security, "virtually everything" you purchase with your covered Visa card is protected in case of theft or damage for the first 90 days from the date of purchase. The plan allows you to replace or repair your purchases, get reimbursed for eligible items, and file claims online. Note that there is a $500 per claim maximum. MasterCard also offers a similar 90-day program,.

Most credit card companies also include (with certain cards), extension of the standard manufacturer's warranty. Contact your issuer for details, and be sure to explicitly ask for coverage of the iPhone based on price and other details.

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