SOURCE: SquareTrade

September 22, 2008 08:00 ET

SquareTrade Launches New Alternative to AppleCare and Only Available Accidental Damage Coverage for iPhone 3G

SAN FRANCISCO, CA--(Marketwire - September 22, 2008) - SquareTrade, the leading online warranty provider, introduced a new program for iPhone 3G owners today. The new SquareTrade iPhone 3G warranty with ADH is expected to be in high demand as the only available option for Accidental Damage from Handling coverage on the device.

SquareTrade also reports findings that as many as 80% of warranty claims in their database on the iPhone are due to accidental damage as opposed to device failure.

"We know there are a lot of people looking for insurance for their iPhones, but neither Apple nor AT&T offer it," says Steve Abernethy, CEO of SquareTrade. "So we created a warranty that also protects against drops, spills, and other accidents to give people an option for coverage."

Pricing for the SquareTrade warranty with ADH is $89 and $109 for the 8GB and 16GB models, respectively, for two years of coverage. A third year option is also available for an additional charge. Coverage can be purchased online at www.squaretrade.com/iphone.

"People love their iPhones for lots of different reasons, but the fact remains that their sleek style also makes them feel fragile," says Abernethy. "So far, we've seen most of the claims on the first gen iPhone coming from people accidentally damaging their phones -- not from software or hardware failure on the device."

About SquareTrade

Founded in 1999, SquareTrade makes warranties that make sense. With lower prices (40% less on average than retail warranties), a no-pressure way to buy online, and no-hassle 5-day service guarantee, SquareTrade is the smart choice for warranty coverage. Buy your item anywhere -- online or in a store -- then get a better warranty directly from www.squaretrade.com or call 877-WARRANTY. SquareTrade is the only service consistently rated 5 of 5 by consumers. Privately held, SquareTrade is headquartered in San Francisco. For more information, go to www.squaretrade.com.