Some Times the real insurance plan, comes from knowingly who you're buying the iPhone from. Or any device for that matter. I always feel comforted knowing that if there's an issue with something that I know it's out of my control, and I purchased it from Apple, they will make the situation right. Where is sometimes that I don't trust third-party retailers or big box stores that try to refrain from wanting to assist the customer. Maybe it's just a piece of mind or are all the years I've been with Apple have been positive experiences.
Exactly why I bought every device from Apple directly.