Not bad... If you pay for the 2 year plan ($89 per phone upfront, $75 deductible), it is cheaper than Applecare + and I think SquareTrade gives you 4 incidences. If you go for the $6 monthly plan, you still only have a $75 deductible. That IS WAAAAY cheaper than carrier insurance. I carried SquareTrade for my kids last year and when I needed to file a claim, I did it online and I had to take the broken phone (water damaged) to the Genius Bar and pay for service. Then I went online and uploaded the Genius service receipt (Apple emails it to you) to SquareTrade and they reimbursed the money (minus $75) via Paypal the very next day!