Engadget reports that Sprint will finally begin offering its Total Equipment Protection (TEP) plan for the iPhone beginning January 25. The TEP plan offers coverage not only for device failures that occur outside of Apple's standard warranty but also loss, theft, and damage.
The TEP plan consists of two parts, an $11 monthly fee for the service and then a significant $150-$200 deductible for cases where the phone requires replacement due to loss, theft, or physical damage. Consumers have 30 days from the date of purchase of their device in which to enroll in the program.
AT&T offers a similar program, although it costs $6.99 per month with a $199 deductible for all iPhone, iPad, and iPad mini models. Verizon's Total Equipment Coverage carries a special higher rate for iPhone compared to other devices, with the monthly fee set at $9.99 and deductibles ranging from $169-$199 depending on model.