iPhone AppleCare+ coverage with theft and loss is much more expensive in the U.S. than here in Japan

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I noticed that AppleCare+ coverage for the iPhone with theft and loss protection is much more expensive in the U.S. than it is in Japan. I posted some details here.

https://lerner.net/iphone-applecare-with-theft-and-loss-coverage-costs-much-more-in-the-u-s-than-in-japan/

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I’m sure your conclusions are the underlying reason.

This is insurance. Premiums are affected by risk. In the US, compared to Japan, theft is rampant. Also, people to large extent don’t take good care of their stuff, damaging it, losing it (and as you say, chances are slim it will be returned—unlike Japan), etc. I take better care of my stuff than the average Joe which tells me I am better off insuring myself than buying theft/loss coverage which means I’m de facto subsidizing others’ carelessness.

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