When you buy a new phone, you often pause at the checkout counter. Should you get AppleCare or carrier insurance? While the monthly difference may seem small, the story changes when you look at it over two years.

As I switched my phone this time, I took a closer look at this issue. To cut to the chase, in most cases, AppleCare is cheaper. However, there are conditions.

First, let's look at Apple. Currently, the only AppleCare plan available for iPhones in the U.S. includes theft and loss coverage. The option to buy a cheaper plan without theft coverage is no longer available.

For the iPhone 17 Pro, it costs $13.99 per month. If you pay for two years upfront, it totals $269.

If you pay monthly for 24 months, it will amount to $335.76. That's over a $66 difference compared to the upfront payment. Given that the coverage is the same, this is not a trivial amount.

If an incident occurs, there are separate service fees. The fee for screen or back glass damage is $29, while other damages cost $99. If you need a new phone due to loss or theft, you'll pay $149.

Theft and loss coverage is available up to two times every 12 months. Additionally, the Find My feature must be enabled. Be aware of this condition, as it can lead to complications when filing a claim if you're not informed.

Now, let's discuss carrier insurance. I'll use Verizon's Mobile Protect as an example. The cost is $16 or $19 per month per device, depending on the model.

If you have the latest Pro model, it's generally safe to assume you'll be on the higher end. At $19 per month for 24 months, that totals $456. Even at the lower rate of $16, it comes to $384.

However, carrier insurance has clear advantages. There's no deductible for repairs on broken screens or back glass. There are also no limits on the number of claims.

For other damages, a $99 deductible may apply. The deductible for loss and theft varies by device, ranging from $19 to $279. The more expensive the phone, the higher the deductible tends to be.

Let's assume you break the screen once over two years. The upfront cost for AppleCare would be $269 plus $29 for the repair, totaling $298. If you pay monthly, it would be $364.76.

For Verizon, at $19 per month, the total would be $456 with no deductible, so it remains $456. In this case, the carrier insurance doesn't come close.

If you break the screen three times, the total for AppleCare would be $356. It still proves to be cheaper. The gap is larger than I expected when looking at the numbers.

Even if you factor in one instance of loss, it's similar. Adding $149 to the AppleCare upfront cost brings it to $418. Verizon's monthly premium alone is already $456, plus the deductible for loss.

What if you don't get insurance at all? The official repair cost from Apple for a screen without warranty ranges from $199 to $329 for the Pro Max.

If you don't break your phone at all over two years, the insurance premiums are just an expense. For those who are careful, going without insurance can be a reasonable choice. However, you must consider that you're taking on the risk of loss alone.

If you have multiple devices in your household, the calculations change a bit. Carriers also offer bundle plans. Verizon's multi-device plan costs $38 for two lines, $57 for three lines, and $68 for four lines.

Apple seems to have recognized this and has introduced AppleCare+ for Families. The individual plan costs $19.99 per month and covers up to three devices. The family plan, which covers the entire group, is $49.99 per month.

If your household uses an iPhone, iPad, and Apple Watch, it's wise to calculate this option first. Apple claims you can save up to $11 a month by bundling rather than insuring each device separately.

One thing to note is that reports indicate the AppleCare price for the newly released iPhone 18 Pro is $14.99 per month, but I haven't been able to verify this directly on Apple's official page. If you're purchasing a new model, be sure to check the final price on the purchase screen.

Carrier insurance can't be signed up for at any time. Verizon has set the open enrollment period from September 3 to November 1 this year. If you want to add insurance to a phone you're already using, don't miss this window.

This area has long winters, so dropping your phone happens more often than you might think. It's common to drop your phone in a snow-covered parking lot while trying to take it out with thick gloves on. I've heard stories of people losing their phones on ski lift rides more than once.

That's why I personally opt for insurance. However, I choose to pay upfront rather than monthly. Since I'll be using the phone for two years, there's no reason not to save $66.

In summary, if you have one phone, the upfront AppleCare is the cheapest option. If you have multiple devices, compare AppleCare+ for Families and the carrier's multi-plan side by side.

If you frequently break your screen, the carrier insurance's no-deductible screen repair may seem attractive. However, you'll need to break it quite a few times to outweigh the difference in premiums.

Insurance is ultimately money you bet on probabilities. Writing down the total cost over two years, rather than relying on advertising slogans, is the most reliable method.