If you purchased your iPhone 4 with Amex, and it got stolen. You have 90 days of insurance coverage with Amex. The hard cap per incident is $1,000. If you purchased the phone with subsidized pricing, you paid, say $250. Now if I have to replace the phone, then I imagine I'll have to pay full price of $650. (I'm talking with easy numbers with CA tax, not the accurate prices) Would Amex reimburse $650 (lower than $1000 cap) or only $250 because that's what I paid initially. Anyone had to file a claim with Amex for a stolen smartphone in the past? How much did you get paid? I'm debating if I can rely on Amex coverage for 90 days or just get Safeware insurance that covers theft as well. I called Amex, but their answer was it's up to the examiner, and couldn't get me any more details.