For iPhone insurance, Safeware is one of the few companies that covers loss/theft. To me, this is the only reason to insure the phone, since Apple will handle all other repairs for $199 anyway (and Squaretrade, i.e. charges premiums and deductibles totaling $149...not much savings there). But Safeware's policy for the iPhone 4 32GB is only $500 of coverage. That's $200 short of the retail replacement cost. I called their rep, and he said the $500 is the subsidized price of the 32GB with a new contrast, which is available to the consumer from AT&T six months after purchase. Is this correct? I thought the 32GB iPhone went for $299 subsidized, and I thought that discount pricing is only available 18 months into a 2-year contract. What are the facts? Has anybody dealt with Safeware?