I'm pretty much convinced that Apple's $199 out-of-warranty swap program is the way to go for accidental damage, but still a bit concerned about loss/theft. I've already looked into/talked to SafeWare and Mobile Protect, and just got a reply from Worth Ave. Group. Q. In case of physical damage to the iPhone 4, will I send the phone to your provider and get it repaired? A. For accidental damage to an iPhone, there are a couple options: 1. Take your damaged iPhone to your closest Apple store, and exchange it for a new iPhone at a discounted price, and send us the receipt with a filled out claim form from our website. We will send you a check for the amount, minus your deductable. 2. Send us your damaged iPhone, a filled out claims form from our website, and replacement costs specific to your cell phone account. You can obtain your replacement cost information by accessing your cell phone account online and printing off your upgrade status eligibility. You will be given a check and the process usually takes about 3 weeks but since July-September is your busy season, it may up take 6 weeks. Q. In case of theft or lost phone, will I go purchase a new phone myself and wait for the reimbursement (-$50)? How long will that usually take? A. Stolen call phones require you to send us a copy of the police report, a filled out claims form from our website, proof of ownership (copy of original receipt which can usually be obtained from the establishment where you purchased the phone if you don't have the receipt saved, or a physical owners manual, the original box, or a copy of the upc/model number/ serial number from the box), and your replacement costs specific to your cell phone account. Then we will send you a check minus your deductable, and the turnaround time is the same as stated above. You can wait for the check to purchase your new phone, or purchase the phone before and then simply deposit our check into your bank account. My main problem with WAG prior to the conversation was the long turnaround. But looks like if you don't mind paying out-of-pocket first and wait for the reimbursement check to come later, you can just go to Apple Store and get a replacement while you deal with the actual claim filing concurrently. With coupon code, 1 year of iPhone 4 coverage is $80 = $6.67/mo. For loss/theft, this might be a good deal after all. (again, given that you don't mind waiting for the reimbursement.) Just FYI.