iPad Insurance: How can I get insurance for my iPad?

Many of our readers are already asking how they should go about protecting their iPad once they're able to purchase one. Considering that consumers will be paying between $499 and $829 for their iPad, and the portable (and thus heavily handled) nature of the iPad, most iPad owners want to be confident that their investment will be protected in the event of an accident.

Although Apple's iPad warranty will protect buyers for the first year of ownership for technical defects, it will nothing to protect owners in the event of accidental damage. Considering that the vast majority of iPhone failures are due to accidental damage or handling issues, there is little reason to expect a different situation with the iPad.

That said, many of you are interested in exploring extended/additional protection options for your iPad. Though there are many routes to take, these are the most highly recommended.

Third Party iPad Insurance

Several companies insurance solutions intended serve the needs and wants of consumers who have made significant investments in technology.

Squaretrade, who has been in business since 1999, offers technology insurance intended to provide coverage beyond the manufacturer insurance offered with many devices. Should your iPad meet an untimely fate (i.e. spills, drops and other accidents), Squaretrade promises to fix it or pay you the full purchase price of the device, all within five days. SquareTrade's insurance plans have received near perfect consumer ratings on NexTag and Epinions, and has received an A+ rating from the BBB (Better Business Bureau). As a result, SquareTrade has sold over 1,000,000 warranties to date.

SquareTrade offers coverage for either 2 or 3 years, at a price of $3.99 per month.

For more information on SquareTrade, head to the SquareTrade iPad insurance page.

Homeowners / Renters Insurance

If you have homeowner's or renter's insurance policy, you may be able to cover your iPad through an extension to your existing policy. Adding your iPad to an existing insurance policy is often considerably less expensive than other solutions, but can be complicated.

If you decide to insure your iPad phone this way, be careful to check with your insurance company on how your deductible works in regards to phone claims. If your deductible is $500, chances are you're not getting a very good deal. Make sure to lower your deductible (which would bring on additional costs) or get documentation from your insurance company which states that your extended coverage is not subject to your standard deductible.

Extended Credit Card Protection

Many gold, platinum and other credit cards offer extended purchase protection which in many cases effectively doubles the manufacturer's warranty on your device. While this will not provide any accidental damage protection, it may be free of charge if you purchase using your credit card.

Whichever option you choose, protecting your shiny new iPad with some sort of insurance policy can help protect your bank account in the event of the unexpected.